Nearly every trader, sales person, and investment manager in finance has a bloomberg terminal which is guaranteed to own a lot of screen real estate on their monitors. If you need to get in touch with someone as quickly and efficiently as possible, bloomberg chat is the way to go. You are usually involved in multiple conversations at once so phones just don't cut it.
I traded two different products that were almost exclusively traded via IB (chat) or MSG (email like). There is nothing special about either of those communication channels, but market norms are incredibly powerful.
As others are mentioning, Bloomberg also centralizes a ton of different data, but this much easier to replicate than the network effects of the products above.
Nearly every trader, sales person, and investment manager in finance has a bloomberg terminal which is guaranteed to own a lot of screen real estate on their monitors. If you need to get in touch with someone as quickly and efficiently as possible, bloomberg chat is the way to go. You are usually involved in multiple conversations at once so phones just don't cut it.
I traded two different products that were almost exclusively traded via IB (chat) or MSG (email like). There is nothing special about either of those communication channels, but market norms are incredibly powerful.
As others are mentioning, Bloomberg also centralizes a ton of different data, but this much easier to replicate than the network effects of the products above.