A new iTunes-style app store opens up Bloomberg terminals to third-party developers, letting subscribers buy extra tools direct from independent software providers to complement the terminal’s core news and data offerings.
There are currently 45 apps on the Bloomberg App Portal, developed by third party groups from financial institutions to software firms and academia. The apps are currently split into categories including data analysis, news and research, portfolio management and risk analysis, valuation and pricing, data visualisation and technical analysis.
The service, launched on Thursday, gives those wanting to develop software for the finance industry a fast-track to get their product in the hands of users by developing and launching an app from the service’s website.
Bloomberg subscribers pay for the apps as the App Portal, run by Bloomberg’s Enterprise Products and Solutions business, has a licensing arrangement separate from the Bloomberg Professional service. Customers can also test applications before purchasing them.
Tom Secunda, co-founder and global head of Bloomberg’s Financial Products and Services group, said the service would boost creativity in the financial tools space.
“Cultivating the third-party developer community is critical to enhancing the user experience and growing the value of the Bloomberg Professional service,” Secunda said. “The Bloomberg App Portal extends our commitment to embrace innovation and fuel creativity in the financial marketplace.”
Developers must undergo a formal review process for their app and can receive technical and business support from the Bloomberg team as part of the development programme.