Bloomberg Posted Private Terminal Messages Online

Bloomberg Posted Private Terminal Messages Online

May 13th, 2013

Via: Quartz:

Bloomberg says it accidentally posted on the internet more than 10,000 private messages that traders sent each other on their Bloomberg terminals. The new revelation, reported by the Financial Times, will undoubtedly escalate the furor over Bloomberg’s handling of data that its customers consider to be confidential.

The messages were related to the Bloomberg Valuation Service, known as BVAL, which sets prices on financial products likes bonds and credit default swaps that are often traded among a small number of investors over the messaging system on their Bloomberg terminals. Customers allow Bloomberg to scan those messages for data about trades, so a market price can be established.

According to Bloomberg’s account, the messages that ended up online (and have since been removed) were voluntarily forwarded to Bloomberg by a customer “so that we could conduct internal testing to improve our technology for the client.� A Bloomberg employee uploaded the messages to what he thought was a private website. In fact, it could be accessed by anyone.

Leave a Reply

You must be logged in to post a comment.

Source Article from http://www.cryptogon.com/?p=35127

Views: 0

You can leave a response, or trackback from your own site.

Leave a Reply

Powered by WordPress | Designed by: Premium WordPress Themes | Thanks to Themes Gallery, Bromoney and Wordpress Themes