The 12 brand new Bloomberg terminals arrived early this summer as a new resource that will be available for student use.

What is it?

Originally developed in the 1980s by former mayor of New York, Michael Bloomberg, for the gathering of instantaneous bond data, the Bloomberg terminals are now a staple in many Fortune 500 firms and for educators, alike.

It’s not a new reality gadget straight from a tech geeks fantasy or a “Star Trek” rip-off.  But it does look like it. Equipped with up to six monitors, and it’s very own specially designed keyboard, the Bloomberg terminal is a financial analysts best friend. The terminals are connected to databases which provide the latest information on stock, bonds and industrial supply chains in real time.

“The Bloomberg terminals are going to help us take our organization to the next level,” said Nicolette Lowjeski, president of Society for Applied Investing in Financial Education.

Even playing field

With the addition of these terminals, Oakland now competes with other universities in the state such as University of Michigan and Michigan State University, both of whom have had terminals for many years.

Each terminal costs around $20,000, but a special university discount and a “buy three, get nine free” deal put the terminals within reach for OU’s business school.

“I don’t care who you are, even Harvard. Each university only has 12 terminals,” Associate Professor of Economics Ron Tracy said.

Expanding education

Tracy discussed some new opportunities for OU with the addition of Bloomberg, including the possibility of new minors, Bloomberg aptitude certifications and the increased marketability of current graduates.

“Right now we are considering the Bloomberg proficiency tests as a requirement for graduates of the Business Economics program,” he said.

Tracy’s class will use data harvested on Bloomberg starting next week.

Professors aren’t the only ones getting ideas for its use. Sophomore actuarial science major Musaab Muhammad also has plans for its use. As a member of OU’s investing club on campus, Muhammad is looking forward to working with a real professional tool.

“It’s incredibly useful,” he said. “Before, we traditionally used Google, Apple and Yahoo finance to find data. Now it’s all in one place.”

Where are they?

The terminals can be found in the former ATiB lab, room 327 in Elliott Hall. They are not yet accessible for widespread student use, and are expected to be available in mid-November, pending the renovation of the lab.