FT: Bloomberg snatches BrokerTec data from rival Thomson Reuters

Deal with BrokerTec for rates benchmarks opens new front in war of the terminals

Bloomberg is aiming to tighten its grip over pricing information for issuers in the $8tn corporate bond market, following the defection of a data provider from rival Thomson Reuters. The trading platform BrokerTec will start providing data to Bloomberg for a new service on its ubiquitous terminal that will show benchmark interest rates on Treasuries, interest rate swaps and other financial instruments, according to people familiar with the plan. The aim is to wrest market share from Thomson Reuters’ famous “19901” page, from which market participants can glean information vital to pricing corporate bonds and other products. The challenge comes at a sensitive time for Thomson Reuters, following the purchase of a majority stake in the company’s financial and risk unit by private equity group Blackstone.

The full article is available at https://www.ft.com/content/852a94d0-8f76-11e8-b639-7680cedcc421

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