Software
Development (R&D;)
Overview
R&D; (Research & Development) is the digital software and product development business of Bloomberg; the majority of all Bloomberg functions, applications and analytical programs originate here.
We develop the most advanced financial and business software in the world, launching first in the field and then enhancing progressively. Our developers are immersed in all stages of the software lifecycle, from planning & design to implementation to testing & deployment.
We’re not just coding experts, although our knowledge of C++ and JavaScript continues to set industry standards. Our developers approach software solutions holistically. In fact, we empower every developer to master new domains after their first year.
Things move quickly in R&D.; We don’t like to sit still or keep our clients guessing. Our team is staffed to turn around daily client requests, enhancing functionality to better meet workflow. We convert client feedback into customized assignments, from top-level design changes all the way to deep coding challenges. It’s how we constantly advance, often conceiving and implementing ideas intra-day.
Who thrives here? Nimble minds. Practical professionals, who balance eagerness against over-eagerness. People who thrive in an environment where learning and revision are continuous.
Throughout R&D;, the chase to make the next great innovation is competitive. For example, new hires participate in a specialty Training Class Project. Up to six teams compete on a time-sensitive development challenge, where the winning project is often put into immediate production.
Case Study: SSR Over-The-Weekend Launch
SSR (Short-Sell Restricted) was a top-trafficked Bloomberg function with a lifespan of about four weeks. SSR provided an immediate assist to clients in the 2008 financial crisis. Conceived of on a Friday, it was launched the following Monday to meet the beginning of the workweek.
This over-the-weekend launch is a standout example of Bloomberg agility, highlighting the devotion to clients profoundly exemplified by R&D.;
What does short-sell mean?
A "short-sale" can be defined as the sale of a security (such as a stock) by an investor who does not own that security. The security has been promised to the investor by a lender at a certain price. To deliver the security to the purchaser, the short-seller "borrows" the security. In general, short-selling is utilized to profit from a downward price movement.
What’s the story?
In September 2008, the financial world was in crisis mode. Centuries-old companies were disappearing. Widespread instability led to governments talking about a restriction on naked short-sells. The restriction would occur in something called an SSR (Short-Sell Restricted) list.
At Bloomberg, we anticipated that an SSR list was in the works for U.S. markets. Our challenge: how can we proactively meet this client need? Our solution: build a function to easily showcase the SSR list.
How did you build it?
The SSR list came out on a Friday at 4:30 p.m. We immediately got to work. One of our solutions was a list function. You could run the function SSR<GO> to see the global SSR list. For our second solution, we modified all existing securities functionality. Quotes would now also indicate onscreen if that security was on the SSR list.
We started building the solutions on Friday night. More than 60 people worked over the weekend. Colleagues from R&D;, Sales, Product and Marketing all collaborated to make it happen. We worked from Friday to Sunday and released on Monday.
What was the upshot?
When our clients logged into their Bloomberg desktops on Monday, there was a flash screen to advertise the new SSR function. That flash screen existed because the SSR function was up and running.
Our competition? They went home on Friday night. By the time they figured out what to do, wrote their code, built their QA process, printed up CDs and shipped them to clients for installation, the SSR ban was lifted. They missed their window of opportunity.
Bloomberg Designer
At Bloomberg R&D;, we’ve built our own best-in-class IDE designer. We’ve invested in the technology that helps us create new-generation applications intra-day. If you’re familiar with any IDE, which is an Integrated Design Environment, such as Eclipse or Visual Studio, you’ll be amazed by our capabilities.
You have a palette and the tool kit. Drag and drop components to build a screen. We have the flexibility to innovate, customize and try new things. Our IDE empowers you to make anything from granular to holistic changes with incredible speed.
It gives our developers the flexibility to collaborate and work on the same code from multiple locations. Even better, we can test by deploying to one user, to one firm, to one city, etc. We can regulate the release of our enhancements, making progressive revisions until the product is set for global deployment.
What we’ve done is dramatically shorten the timeline from conception to delivery. You hear about "Just in Time" delivery—we’re JIT because our designer empowers us to find solutions instantly.
R&D; Training Programs
Entry-Level Research & Development Program: Financial Software Development (FSD) Training
We welcome brilliant New Type B personalities from all academic backgrounds—anyone intrigued by software development, even if your primary focus is not computer science. If you possess the aptitude, drive and ambition to learn, you may have what it takes to thrive here.
Our training programs are highly practical, proven to help you hit the ground running. While financial expertise is beneficial, it’s not a requirement. Entry-level positions are available in our New York, Princeton and London locations.
We begin with a hands-on, 10-to-16 week training program that integrates technical and financial training within our development environment. Participants learn our workflow and systems through individual projects, group projects and coursework. You’ll do more than just learn our systems. You’ll learn how we develop new products and solutions, in addition to how we build on existing functionality.
By the end of the program, you’ll learn about the numerous professional opportunities within R&D; and have the tools to succeed.
R&D; Personality
R&D; is seeking people with a passion for figuring things out. Our invitation: come to the environment that will maximize your potential.
Throughout R&D;, we’re adaptable, agile and intuitive. We’re trained to notice patterns in challenges and develop solutions to resolve them. For example, if someone gives our developers five qualities in a series, we’ll be able to predict the next two qualities and finish the thought.
We enhance products quickly and iteratively, recognizing that getting from Point A to Point B requires a series of steps. We embrace change, flexibility and eagerness—with a balance against over-eagerness, which can often lead away from solutions.
Potential Career Path
