Bloomberg suffers rare drop in terminal numbers as banks cut back

First decline since 2009 comes as overall spending on financial data rises

Bloomberg suffered its second-ever drop in the number of ubiquitous terminals dotting global trading desks as it fell victim to cost cutting by the finance industry.

The number of Bloomberg’s distinctive black terminals, used daily by bankers, traders and money managers, fell by 3,145 last year to just under 324,500, down nearly 1 per cent from 2015, according to a report on Tuesday from Burton-Taylor International Consulting, one of the leading sources of information on the industry.

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