Bloomberg’s new data retention policy vexes buy-side firms
Impacted users will have to pay extra costs to retain communications data for longer than two years.
Bloomberg is planning to shorten the default data retention period for which communications data will be accessible via its Terminal and messaging platforms to two years, frustrating some clients that will now need to change their data arrangements and absorb new costs to meet minimum legal and regulatory data retention requirements. Previously, Bloomberg has provided access to five years’ worth of data to subscribers of these services.
In an email sent to customers on March 15, which WatersTec
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