Bloomberg interruptions of power outage.

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Bloomberg, data and media service, suffered from a large -scale interruption on Wednesday morning, preventing traders from reaching direct prices and postponing the UK government debt auction.

Users complained that the amount of $ 28,000 a year Bloomberg The peripheral service was working with great delays and that the absence of direct pricing prevented them from carrying out trading.

By 11 am on Wednesday, the station users reported that the services seemed to have been recovered after about 90 minutes of reporting problems for the first time.

Traders and investors have become highly dependent on the company’s distinctive black and orange stations in 35 years since its foundation by billionaire Michael Bloomberg.

The station carries prices and analyzes on stocks and bonds around the world, and is widely used by merchants and bankers to exchange messages, making it one of the main arteries of the global financial system.

“We have been told not to trade. I cannot remember this level of lack of job,” said one of the fund managers in London on Wednesday.

“Do you bet on a match that you cannot see or know the result?” Another said, adding that trading sizes were less as a result.

Although there are two alternative data provisions, including LSEG and FactSet, Bloomberg is widely considered as the golden standard for the financial services industry.

The interruption led to the disruption of the UK government debt auction, as the debt administration office extends at the time of the bids at 90 minutes.

DMO said: “We expect the near time of the auction window at 11:30 am, according to the issues of the Bloomberg systems that are resolved,” DMO said.

Traders said that the instant messaging service in Bloomberg – known as IB – is still working normally throughout the turmoil, allowing them to conclude deals with other users to settle later. The company did not immediately respond to suspension requests.

The Bloomberg Assist Office published a message at 9.55 am on Wednesday, which said: “We are currently facing a global issue for the station, and our engineering team is actively working to determine the problem and solve it.”

He added: “I apologize sincerely for the inconvenience, and we really appreciate your patience and understanding in the meantime.”

One of the wallet managers in a large asset manager complained that the trading had not been disabled, but the course of his work was completely due to the power outage.

He said: “This is very frustrating … I am unable to run my daily work. Not only deals, I have a presentation where I need data schedules that depend on Bloomberg to work.”

Participated in additional reports by Mary Novak and Rob Smith