Bloomberg has rolled out an App Portal that will act as a third party distribution channel for financial services software providers.
The applications will be available through the Bloomberg App Portal, and will run alongside the Bloomberg terminal.
Global business leader for the App Portal, Claudio Storelli, said Bloomberg's goal was to create a venue that would "allow us to tap into the best minds around the world" – with no barriers to entry.
The App Portal would allow anyone from a Ph D in Romania to a large software developer to have an application available in a couple of clicks through Bloomberg, Storelli said.
The provider of the application keeps 70 per cent of the revenue from the application sales, with Bloomberg pocketing the remaining 30 per cent, he said.
"We let the vendor establish the relationship with the client and negotiate any price. We don't want to get in the middle … Our goal is to bring content to the terminal," Storelli said.
There are currently over 45 applications available to Bloomberg users. They range from detailed technical analysis applications to products that monitor carbon emissions.
Storelli said the App Portal would foster "disruptive change" in the financial software community.
"We're willing to partner with very small, aggressive third party providers who are studying all day long, thinking about a very 'niche' type of functionality. We know that by bringing them in it will force us to be on our toes as well," he said.
