Latest news with #DebtManagementOffice
Finextra
21-05-2025
- Business
- Finextra
Bloomberg Terminals back up after outage
Bloomberg terminals were hit by a global outage on Wednesday, disrupting trading round the world. 0 This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. Terminals - which cost more than $25,000 a year for a single license - are a vital tool for investors, enabling them to access live prices, data and news. The outage forced the UK Debt Management Office to extend bidding for a bond auction by 90 minutes. Another debt sale in Portugal was delayed from the morning to afternoon. The glitch, which Bloomberg has called an "internal issue" was fixed before 1:00pm BST. "Our systems are returning to normal operations and Terminal functionality has been restored following a service disruption earlier today," says a spokesperson.
Yahoo
21-05-2025
- Business
- Yahoo
UK bond auction disrupted as Bloomberg terminals freeze
An auction of UK government debt was thrown into chaos after Bloomberg terminals on which investors rely suddenly stopped working. Britain's Debt Management Office (DMO), which is charged with raising money for the Government, was forced to extend the length of an auction after screens froze across the City of London on Wednesday morning. Bloomberg admitted to a 'a global terminal issue', prompting frustrated traders to complain of 'a fate worse than death' on social media. The DMO was seeking to sell £4.25bn worth of bonds due for redemption in 2031 at a rate of 4pc to help Rachel Reeves finance her spending. The auction was meant to run from 9am to 10am but was extended to 11.30am amid the terminal turmoil. Professional investors around the world rely on Bloomberg terminals for real-time market data, crunching numbers and executing trades. The product has helped turn US billionaire and former New York mayor Michael Bloomberg into the 18th richest person in the world, according to Forbes. One trader complained on social media: 'Bloomberg not working, so sales people are actually trying to talk to me. Please IT gods, save us.' Some functions, such as instant messaging on the terminal, remained in operation, but users reported extreme delays in accessing market data. A single terminal subscription typically costs around £21,000 a year, nearly the same as an entry-level employee in many industries. Bloomberg's help-desk said: 'We're currently experiencing a global terminal issue, and our engineering team is actively working to identify and resolve the problem. 'We sincerely apologise for the inconvenience, and we truly appreciate your patience and understanding in the meantime.'. The Bloomberg terminal outage prompted speculation that the company may have become the latest to fall victim to hackers. Pierre Andurand, a French businessman and hedge fund manager, wrote on X: 'Bloomberg has been down for over 20 minutes ... cyber attack?' Several British retailers have been targeted by hackers in recent weeks, including Co-op, Marks & Spencer and Harrods. M&S warned on Wednesday that it faced a £300m hit to profits as a result of the cyber attack and said disruption to its online services could last months. A Bloomberg spokesman said: 'Our systems are returning to normal operations and terminal functionality has been restored following a service disruption earlier today.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Telegraph
21-05-2025
- Business
- Telegraph
UK bond auction disrupted as Bloomberg terminals freeze
An auction of UK government debt was thrown into chaos after Bloomberg terminals on which investors rely suddenly stopped working. Britain's Debt Management Office (DMO), which is charged with raising money for the Government, was forced to extend the length of an auction after screens froze across the City of London on Wednesday morning. Bloomberg admitted to a 'a global terminal issue', prompting frustrated traders to complain of 'a fate worse than death' on social media. The DMO was seeking to sell £4.25bn worth of bonds due for redemption in 2031 at a rate of 4pc to help Rachel Reeves finance her spending. The auction was meant to run from 9am to 10am but was extended to 11.30am amid the terminal turmoil. Professional investors around the world rely on Bloomberg terminals for real-time market data, crunching numbers and executing trades. The product has helped turn US billionaire and former New York mayor Michael Bloomberg into the 18th richest person in the world, according to Forbes. One trader complained on social media: 'Bloomberg not working, so sales people are actually trying to talk to me. Please IT gods, save us.' Some functions, such as instant messaging on the terminal, remained in operation, but users reported extreme delays in accessing market data. A single terminal subscription typically costs around £21,000 a year, nearly the same as an entry-level employee in many industries. Bloomberg's help-desk said: 'We're currently experiencing a global terminal issue, and our engineering team is actively working to identify and resolve the problem. 'We sincerely apologise for the inconvenience, and we truly appreciate your patience and understanding in the meantime.'. The Bloomberg terminal outage prompted speculation that the company may have become the latest to fall victim to hackers. Pierre Andurand, a French businessman and hedge fund manager, wrote on X: 'Bloomberg has been down for over 20 minutes ... cyber attack?' Several British retailers have been targeted by hackers in recent weeks, including Co-op, Marks & Spencer and Harrods. M&S warned on Wednesday that it faced a £300m hit to profits as a result of the cyber attack and said disruption to its online services could last months. A Bloomberg spokesman said: 'Our systems are returning to normal operations and terminal functionality has been restored following a service disruption earlier today.'
Business Times
21-05-2025
- Business
- Business Times
Bloomberg terminal back up after outage affects European bond sales
[LONDON] News and data company Bloomberg said its systems were returning to normal on Wednesday (May 21) after a brief disruption earlier in the day that delayed numerous government bond sales and affected customer activity. 'Our systems are returning to normal operations and Terminal functionality has been restored following a service disruption earlier today,' a Bloomberg spokesperson said. The deadline for an auction of UK government debt was delayed, although that sale has now gone ahead, according to the Debt Management Office (DMO). A bill auction in Portugal was postponed until 14:30 CEST (1230 GMT) because of the outage, while Sweden delayed its scheduled bond auction due to 'technical issues'. 'Bids in the auctions are (...) submitted electronically via the Bloomberg auction system,' the Swedish debt office website said. It was not immediately clear if Wednesday's delay had been caused by the outage. The European Union also postponed its deadline for Wednesday's sale of EU Bonds by one hour to 1300 CEST (1100 GMT). Traders and market sources had earlier reported that live pricing and market data had stopped functioning and screens went blank. 'You can't load anything new, you can't update spreadsheets, some of the auctions have been delayed,' Peter Schaffrik, chief European macro strategist at RBC and a Bloomberg terminal user, said. REUTERS
Bloomberg
21-05-2025
- Business
- Bloomberg
UK, EU Extend Debt Auction Deadlines Due to Technical Issues
The UK and European Union extended the bidding window for debt auctions on Wednesday in response to Bloomberg LP technical issues. The Debt Management Office, which manages bond sales on behalf of the UK Treasury, said it expects to close the auction bidding window at 11:30 a.m. in London. Usually the bidding finishes at 10 a.m. The EU said in a separate statement it was delaying the deadline for its bills sale by one hour to 1 p.m. in Brussels
