Bloomberg Eliminates Buy-Side’s Barrier to Twitter
9 April 2013
By Darrell Heaps
Yesterday I had the opportunity to meet with a friend who runs a hedge fund and got a hands on look at Twitter inside of Bloomberg. My first impression was that the integration is very straightforward, with Twitter featuring all of the same capabilities as any other news source in Bloomberg. It’s a very slick integration in that it’s exactly what Bloomberg users would expect.
One of the things that caught my eye was Bloomberg’s introduction of the Twitter service. It highlights both the SEC and the growing use of Twitter by companies to share market moving information as the reasons why it has now integrated Twitter at this level.
“The Securities and Exchange Commission announcements that gave companies a green light to disseminate information via social media puts a spotlight on Twitter. Bloomberg provides investors and traders with simple solutions to follow tweets about companies, industries and markets.
Interest in Twitter is growing in part because more and more companies and governments are using the service. Twitter provides a fast and easy way to disseminate press releases and other market moving information.”
As with any news source inside Bloomberg, Real-time Twitter alerts can be delivered as a message, pop-up or scheduled message alerts which can be delivered daily, weekly or at customizable intervals, etc. While my friend was taking me through the features, he was pleasantly surprised at how easily he could configure Twitter to alert him on a number of things he was currently interested in.
In addition to the standard filters, Bloomberg has also included social media velocity alerts. These include trending social velocity alerts as well as velocity alerts based on a specific keyword, ticker symbol, etc. The screen below also shows a historical look at the velocity.
An interesting comment from my friend was that, although social velocity alerts were interesting, in his trading they were not very useful because they are historical and effectively old news. He said the same applied to tracking news services/wires. He said:
“If I see something in the market I look to Twitter first to try to figure out what’s going on. Then the newswires, which typically don’t tell me much. I’m trying to understand what’s happening before it hits wires, once it breaks there, it’s too late….it’s old news”
With Twitter now integrated at this level inside Bloomberg, it’s only a matter of time until we see the same level of Twitter integration with Bloomberg’s competitor systems like Thomson One, etc.
One of the arguments against the use of social media in investor relations that I’ve heard many times is that institutional investors are not able to access Twitter on their desktops, “IT departments block Twitter so they can’t use it.” Bloomberg’s integration of Twitter completely blows that out of the water.
Goodbye argument that the Buy-Side can’t use Twitter.
The case for why companies should be using Twitter has never been clearer. You now have a direct connection to the Bloomberg desktop.
Happy Tweeting everyone.