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2025: Failure in Bloomberg's IT terminal system leads to costly European government bond trading halt
On May 21, 2025, Bloomberg's terminal IT system crashed. This provoked a stop in trading in government bonds in Europe - difficulties arose with the placement of securities of Great Britain, Portugal and Sweden.
According to the Financial Times, traders complain that the Bloomberg service is working with significant delays. Some market participants point to the lack of current quotations that they need to make transactions. "Would you bet on a match whose score is not visible or unknown?," One trader wonders. As a result of the failure, trading volumes decreased significantly.
 | We are currently facing a global terminal issue and our engineering team is actively working to identify and address the issue, Bloomberg said in a statement. |  |
The failure caused the public debt auction to collapse and the Debt Great Britain Management Office extended the bidding time. Sweden forced to postpone the planned bond auction due to "technical problems." The auction of bills of exchange in Portugal has also been postponed to a later date. European Union revised the bond sale deadline. At the same time, traders say that the instant messaging service, known as IB, continues to operate normally.
| | You can't download any new information and update the tables, some auctions have been postponed, "says Peter Schaffrik, RBC's chief macroeconomics strategist in Europe. | |
Bloomberg's support service apologized for the inconvenience, reporting on the restoration work. What exactly the technical problems that have arisen are connected with is not specified as of May 21, 2025.[1]
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On December 20, 2021, it became known about the appointment of Yulia Fedorinova as head of the Moscow bureau of Bloomberg. She took over from Torrey Clark, who moved to the position of Bloomberg's managing editor for Eastern Europe. She will continue to work from Moscow. Read more here.
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