U.S. financial data provider Bloomberg has expanded its data offering at the expense of its rivals, with a Swiss provider playing a supporting role.
Bloomberg is expanding its data content in the $8 trillion corporate bonds market. As the British newspaper «Financial Times» (behind paywall) reports the New York-based news and data provider, whose terminals are widely used in the Swiss banking sector, has entered a partnership with the bonds trading platform Brokertec.
Bloomberg thus beat its arch-rival Reuters to Brokertech, which had previously been available on Reuters. Brokertec cancelled its contract with Reuters effective July 31 and will then supply the U.S. service with key interest-rate reference data.
Bloomberg also offers bonds data from two other platforms: Trade-X, owned by the Lausanne-based broker group Compagnie Financière Tradition, is already on offer to users of Bloomberg terminals.
