In addition to providing news and information, Bloomberg also provides terminals to brokerages and others in the financial industry. These terminals — which rent for as much as $20,000 per year — provide real-time market information as well as messaging systems and other information.
In his apology, Winkler revealed that Bloomberg’s reporters could track user’s actions while they used their rented terminals. Information such as login times, programs accessed and potentially other information were available to those inside Bloomberg. However, Winkler stressed that reporters did not have access to client trade information nor were they able to read client messages.
“Our reporters should not have access to any data considered proprietary. I am sorry they did. The error is inexcusable,” Winkler wrote.