Bloomberg (see additional listing in Chapter 9) offers an on-line global analytical system that is useful for institutions buying or selling equities.

Primary among the features are on-line monitoring capabilities for the equity market, including quotations and analytic functions (such as spreads), as well as real-time money flows, including money flows by sectors, groups, and designated portfolios. In addition, an algorithm tracks the impact of program activity on the market.

Post-close reports recap daily trading (including the change in the market relative to the net buying and selling), calculate the daily cost of block transactions, and generate a screen of individual stocks showing unusual trading characteristics.

For each listed stock, as well as NMS issues, there exists a trading profile of specialist evaluation, normal price changes, status of moving averages, and other trading and technical parameters.

Extensive databases and analytic macros are provided for user-directed analytics. Databases include:

• Daily closing DJIA from 1915
• NYSE daily volume and breadth from 1930
• FRB flow of funds data from 1954
• NYSE member firm trading from 1980

In addition, all corporate buybacks, mergers, LBO's, and other information relating to capital flows are maintained by this service.

The custom hardware includes a compact, color, dual twelve-inch screen and a color-coded keyboard, for ease of identification. The system is entirely menu-driven. Each analytic screen is supported by a help screen. A laser printer, supplied by the subscriber, can be used for high quality printouts. The Bloomberg is available world-wide, seven days a week, on a continual basis. Can be run on your own laptop. Available as "Open" Bloomberg on your PC/Network.

Monthly
Dual-screen terminal $ 1,640
Two or more terminals (each) $ 1,140
All functions are included in the terminal charge- portables are available. Bloomberg supports Serial HP LaserJets; there is no charge to print. The minimal local phone line charges are extra and vary with location. Third-party access charges for real-time equities, newswires, etc., are extra but are passed on to the user without a Bloomberg markup or service fee. International charges vary by country.

Contact your CAPIS salesperson at 800.247.6729 or 214.720.0055, or call Bloomberg at 800.448.5678 or 212.318.2000.

Internet address: www.bloomberg.com