3di are advising Firms on mitigating the financial overhead and operational risk

3di are advising Firms on mitigating the financial overhead and operational risk as Bloomberg Open restrictions revert to a post-pandemic normal. As Bloomberg revokes its pandemic flexibility to activate their Disaster Recovery subscriptions which enabled remote access to Bloomberg Open and Shared terminals, clients now find themselves facing increased costs of upgrading up to Bloomberg Anywhere terminals, or returning to complete office-based working environments.

Due to the change in working practices, and the increase in remote working and hybrid working that appears here to stay, this has thrown up a potentially costly situation for firms. The conundrum to be solved is simply, ‘to support current working practices do we invest – at high cost – in Bloomberg Anywhere terminals, for all our Open Bloomberg users now working remotely’? This quandary has actually been asked and answered comfortably for nearly 30 years. Off-floor, non front-office trading and fund management activities have always had alternatives to Bloomberg, and therefore this situation does not have to result in high-cost Bloomberg Terminal contracts for remote users. Depending on the specific functions to be carried out, anything from Factset to Refinitiv’s Workspace…. could potentially do the job – at low and affordable fees. 3di analysis always focuses on the specifics of clients’ use cases and we are currently working through a number of engagements and making appropriate recommendations to client firms.

3di have over 20 years experience in helping market data consumers optimise products and costs in this type of scenario. Check out our Profiler vendor intelligence utility for even more options – please get in touch for a product demo on profiler@3di-ltd.com.

Hannah McDonnell – Head of Client Communications & Marketing