Editing Bloomberg Terminal (section)

== History ==
In 1981, [[Michael Bloomberg]] was fired from [[Salomon Brothers]]. He was given no [[severance package]], but owned $10 million worth of equity as a [[Partner (business rank)|partner]] at the firm.<ref>{{Cite interview |title=Michael Bloomberg on How to Succeed in Business |last=Bloomberg |first=Michael |interviewer=Sam Roberts |url=https://www.nytimes.com/2017/02/01/education/edlife/mike-bloomberg-salomon-brothers.html |date=2017-02-01 |subject-link=Michael Bloomberg |work=[[The New York Times]]}}</ref> Using this money, Bloomberg, having designed in-house computerized financial systems for Salomon, set up a data services company named Innovative Market Systems (IMS) based on his belief that Wall Street would pay a premium for high-quality business information, delivered instantly on computer terminals in a variety of usable formats.<ref>{{cite book |url=https://books.google.com/books?id=DsJn4397J1cC&pg=PA26 |page=26 |title=The Battle for Wall Street: Behind the Lines in the Struggle that Pushed an Industry into Turmoil |isbn=9780470446812 |last1=Goldberg |first1=Richard |date=January 23, 2009 |publisher=John Wiley & Sons }}</ref> The company sold customized [[computer terminal]]s that delivered real-time market data, financial calculations and other analytics to Wall Street firms. At first, the machine was called the Market Master terminal, but later became known as the Bloomberg Terminal<ref name="Fast Company">{{cite news|url=https://www.fastcompany.com/3051883/the-bloomberg-terminal|title=How the Bloomberg Terminal Made History—And Stays Ever Relevant|website=Fast Company|date=October 6, 2015|first=Harry|last=McCracken|access-date=February 27, 2020}}</ref> or simply "The Bloomberg." The terminal was released to market in December 1982.<ref name="Fast Company" /> [[Merrill Lynch]] became the company's first customer, purchasing a 30% stake in IMS for $30 million in exchange for a five-year restriction on marketing the terminals to Merrill Lynch's competitors.<ref name="Make It New">{{cite book|last=Bodine|first=Paul|url=https://books.google.com/books?id=9G-FWJIAOSEC&pg=PA182 |title=Make It New: Essays in the History of American Business|publisher=iUniverse|year=2004|isbn=9780595309214|pages=182|access-date=February 27, 2020}}{{self-published source|date=June 2022}}</ref> In 1984, Merrill Lynch released IMS from the restriction.<ref name="Make It New" />

In 1990, the Bloomberg keyboard was released with a trackball and built-in voice-chat features. In 1991, the first color edition of the terminal was released.

Michael Bloomberg stepped away from working on the terminal in 2001 to run for New York City mayor, but returned to lead the project in 2014. Starting in 2012, Bloomberg Terminal had a greater annual revenue than [[Thomson Reuters]], the company that founded the market data business.<ref name="Vox">{{cite news |last1=Stewart |first1=Emily |title=How Mike Bloomberg made his billions: a computer system you've probably never seen |url=https://www.vox.com/2020-presidential-election/2019/12/11/21005008/michael-bloomberg-terminal-net-worth-2020 |access-date=24 December 2019 |work=Vox |date=11 December 2019 |language=en}}</ref>

Currently, the hardware aspect of the terminal is only a series of accessories. Some of those accessories are a custom keyboard with special keys, a fingerprint scanner, and a dual-screen display.<ref name="TerminalHistory">{{cite news |last1=McCracken |first1=Harry |title=How the Bloomberg Terminal Made History–And Stays Ever Relevant |url=https://www.fastcompany.com/3051883/the-bloomberg-terminal |access-date=2 December 2019 |work=Fast Company |date=6 October 2015}}</ref>