Bert W.

and Sandra Wasserman Trading Floor

Subotnick Financial Services Center
Bloomberg II: Fixed Income and Advanced Topics
May 07, 2013

Ryan Phillips
William and Anita Newman Library
Baruch College of the City University of New York
E-mail: ryan.phillips@baruch.cuny.edu

The content of this tutorial should not be construed as investment advice.

Scope
This workshop will introduce participants to Fixed Income securities as accessed through Bloomberg Professional service.
It is not meant to be a complete course on fixed income or bonds but rather an introduction to the topic through the
purview of the Bloomberg terminal. Bloomberg II will focus on finding and viewing debt securities by different categories of
issuers, the associated credit risk and through yield analysis for the securities.

Fixed Income and Topics Covered in this Workshop

Fixed Income is an investment category that provides real rates of return at regular intervals. In comparison to Equities,
Fixed Income investments provide regular and stable income. Bloomberg provides access to 4.6 million fixed income
securities from all fixed income categories.

The information covered in this workshop follows the layout of the Bloomberg keyboard for asset classes:

• Corporate Debt [F2]

Corporate bonds are debt securities that are issued by private corporations. In this workshop we’ll start by examining all
the related securities associated with a corporation. We’ll then view this company as an issuer of debt, the distribution of
its debt and introduce the concept of risk as associated with the company through credit ratings.

• Government Debt [F3]

Debt issued by the U.S. government include Treasuries--including treasury bills, bonds, notes, savings bonds, etc. and
Federal Agency Securities.

• Mortgage-Backed Securities [F4]

Debt obligations that denote a claim on the cash flows of a mortgage loans.

• Money-Market [F5]
Subsection of the fixed income market providing short-term debt securities in treasury bills, bonds and notes, certificates
of deposits, commercial paper, banker’s acceptance and repos. These securities are issued for a maturity of less than one
year.

• Municipal Bonds [F6]

Debt instruments issued by state and local governments.

• Preferred Stock [F7]

Although preferred stock is equity, these securities offer a fixed rate of income via dividends and thus are often
recognized as stocks that perform like bonds. This workshop covers preferred stock to show the different types of
corporate securities that are issued in order to raise capital.

Prerequisites
Prior to attending this workshop, students should have attended the Bloomberg I workshop and/or have previously
acquired basic navigation skills within Bloomberg Professional. Students should have cursory knowledge of Fixed Income
securities.

1 © Baruch College, 2013. All rights reserved.

Bloomberg Background
Bloomberg L.P. is an information service, news and media company. Based in New York, the company employs more
than 15,000 people in over 135 offices around the world. Bloomberg is in the business of accessing, reporting, analyzing
and distributing financial information.

The Bloomberg Professional service is a source of real-time and historical financial news and information for central
banks, investment institutions, commercial banks, government offices and agencies, law firms, corporations and news
organizations in over 160 countries. The Bloomberg Professional service is an all-inclusive financial information &
workflow product; subsets or customized products are not available.

Courses at Baruch
To learn more about the basics of financial markets, relevant courses at Baruch include:

Undergraduate: FIN 3000 Principles of Finance

Graduate: FIN 9770 Financial Decision Making

Sources of Further Information

The Newman Library and Subotnick Center staff have prepared a number of tutorials, guides and other resources related
to Bloomberg and other tools used in finance and economics. They can be found at:

• Wasserman Trading Floor / Subotnick Center home page: http://zicklin.baruch.cuny.edu/sfsc/

• Newman Library Instruction Page: http://newman.baruch.cuny.edu/instruct/default.htm
• Newman Library Bloomberg Guide: http://guides.newman.baruch.cuny.edu/bloomberg
• Bloomberg University. Command BU <GO> within Bloomberg Professional
• The SFSC Blackboard site. To join, log into Blackboard, click on the Community tab and search for “Wasserman”.
When the Wasserman Trading Floor, etc. appears, click the “Join” button.
• Books
o An Introduction to Bond Markets by Choudhry, Moorad (2010) Baruch Newman Library
o Investments by Zvi Bodie, Alex Kane, Alan Marcus (2010) Baruch Newman Library
o The Bond Book: Everything Investors Need to Know About Treasuries, Municipals, GNMAs, Corporates,
Zeros, Bond Funds, Money Market Funds, and More by Annette Thau (1992) Baruch Newman Library
o The Handbook of Fixed Income Securities by Frank Fabozzi (2005) Baruch Newman Library
o Bond Markets, Analysis, and Strategies by Frank Fabozzi (2013) Baruch Newman Library
o The Money Market by Marcia Stigum (1990) Baruch Newman Library

Skills for this workshop

1. Debt Markets Definitions and Structure
a. Bond ratings, rating agencies and risk metrics
b. Bond identification and description
c. Bond values and characteristics
d. Bond analysis
2. Displaying Yield Curves
a. Yield curves
b. Spreads
c. Plotting securities against benchmarks
3. Searching Corporate Debt
a. Corporate capital Structure & Debt Distribution
b. Corporate Issuers
4. Searching Municipal Bonds, and other issuers of debt.

Contents
1. Logging into Bloomberg
2. Corporate Debt and Related Securities
3. Displaying Yield Curves
4. Security Finder
5. Preferred Stock
6. Municipal Bonds
7. Government Securities
8. Mortgage-Back Securities
9. Money Market
10. New Issues and Fixed Income Monitoring
11. Bloomberg University – Review

2 © Baruch College, 2013. All rights reserved.

 12. Assistance – Review

1. Logging into Bloomberg

Logging into a trading floor workstation
To log into a trading floor workstation, press Ctrl-Alt and Del. Please read the summary of the full Usage Agreement as
shown below:

By clicking the button below, you agree to the terms and conditions for using the Trading Floor resources as outlined
in the Wasserman Trading Floor / Subotnick Center Usage Agreement. Briefly, this agreement stipulates that:

1) The use of the Center is restricted to educational purposes only. Use of the facilities for commercial or personal
investment purposes, or to support student internships or other employment is strictly forbidden.
2) Trading or auctioning activities of any kind via any medium (internet, telephone, PDA, etc.) within the Center is
strictly forbidden.
3) Cell phone use is forbidden within the Center.
4) Realtime and delayed data may not be captured in bulk or re-transmitted in any way, without exception.
5) Historical data may not be captured or retransmitted in any way. Permissible exceptions are limited to either a) a
specific assignment given by a professor for a Baruch course or b) written permission of the Center Director.
6) Downloading or installing software of any kind, including but not limited to search bars and instant messaging
clients, is strictly forbidden.
7) Tampering with or damaging any hardware or software in any way is strictly forbidden. Failure to adhere to these
terms and conditions will result in removal from the facilities. Please note that we reserve the right to monitor the
activities of users of the Center.
Figure 1. Summary of the Wasserman Trading Floor / Subotnick Center Usage Agreement

You may view the full agreement at the end of this handout. After reading the brief agreement and clicking on the OK
button, type in the username and password as instructed by the instructor. After a few moments, the Windows XP desktop
will appear.

Logging into Bloomberg. Start Bloomberg Professional Service application by double clicking on the
Bloomberg icon on the Windows desktop or by going to the Start -> Programs -> Bloomberg -> Bloomberg.

Once Bloomberg is open, press the red Connect/Default Key in the upper right-hand corner of the keyboard.
Once you’re logged in, four Bloomberg windows, or panels, will open. The four panels support the
Bloomberg user’s workflow, and allow you to multi-task by operating in multiple windows
at once. See Figure 1.

2. Corporate Debt and Related Securities

Corporations issue three types of securities to finance their operations—common stock, preferred stock and debt.
Bloomberg’s RELATED SECURITIES [RELS] function provides a snapshot of currently issued securities for a corporation (Fig. 3).
In addition to equities and debt [RELS] also provides a glimpse into the company capital structure, bank loans, funds,
money market instruments, funds, assets and other aspects related to financing and asset management.

A brief exploration of RELATED SECURITIES [RELS] screen for a diversified corporation like General Electric will provide
examples for most of the categories. For Corporate Debt specifically, the function also provides us an option to view a list
of “Corporates by Ticker GE.”

3 © Baruch College, 2013. All rights reserved.

Figure 2. The Related Securities screenshot for GE <EQUITY> RELS <GO>

To view the main menu for Corporate Securities, press the yellow F3 for CORP and then <GO>. Using each yellow F key
with <GO> will bring you to the main menu screen for each applicable asset class. Each asset class menu is similar in
organization and the functions presented.

Figure 3. The Corporate Securities menu, F3 CORP <GO>

4 © Baruch College, 2013. All rights reserved.

Issuer Description [ISSD]. In evaluating bonds, investors will be interested in information about the issuer of the bond,
whether it be a corporation, municipality, government agency or other. For corporate and other issuers, the ISSUER
DESCRIPTION [ISSD] function will display pages (1 – 7) for Summary, Company Info, Credit Fundamentals, Debt
Summary, Credit Health, Major Creditors, and Recent Cap Mkts (Fig. 3).

Evaluating this basic information is a starting point for evaluating the risk of debt issued by General Electric.

Figure 4. The Issuer Description screenshot for GE <EQUITY> ISSD <GO>

Distribution of Company Debt. The DISTRIBUTION OF COMPANY DEBT [DDIS] function will display a company’s total debt
obligation--including bond principal and associated interest, outstanding loans and tranche size—by the year of maturity
(Fig. 4). Users can filter by type of Debt, Coupon, Loan, Sec, and Maturity as well as by the Currency and Country or
Issue.

Note in Figure 5, debt distribution is shown for the GE and all GE subsidiaries. At the bottom of the DISTRIBUTION OF
COMPANY DEBT [DDIS] the corporate structure and hierarchy of GE is listed. Users can also view the debt distribution
according to each individual subsidiary. The terms in figure 4 are defined below.

5 © Baruch College, 2013. All rights reserved.

Figure 5. The Debt Distribution screenshot for GE <EQUITY> DDIS <GO>

Loan Type
Term Loan type specifying a certain principle, repayment schedule and floating interest rate. Term loans typically
mature between one to ten years.
Revolver Line of credit to a corporation that does not have a fixed number of payments, typically used to finance day-to-
day operations.

Security Type
144A Private Placement bonds that require the issuer to make limited disclosure to the SEC, according to
Rule 144A
Indexed Linked Interest payments are adjusted according to a price index, often the Consumer Price Index
Structured Notes Structured notes are hybrid securities, fixed-income instruments with derivative components, where
the bond's coupon, average life, or redemption value can be dependent upon the forward movement
of various underlying indices, spot rates, etc.
MTN Medium Term Note, those that mature five to ten years

Coupon Type
Fixed Pays a fixed rate of return over the life of the instrument.
Floating Coupon rate fluctuates according to an underlying benchmark (Maybe the T-Bill or LIBOR rate).
Variable Periodically reset.
Zero No Interest is paid. Face value is the only payment on this bond.
Warrant A derivative security that gives the holder the right to purchase securities (usually equity) from the issuer at a
specific price within a certain time frame.
Step A bond that pays an initial coupon rate for the first period, and then a higher coupon rate for the following
periods

Maturity Type
Bullet One-time lump-sum repayment of an outstanding loan.
Putable A bond that allows the holder to force the issuer to repurchase the security at specified dates before
maturity.
Callable At the callable date, the issuer may "recall" the bonds from its investors. This simply means the issuer
retires (or pays off) the bond by returning the investors' money.
Sinkable A bond issue that is backed by a fund, called a sinking fund, that sets aside money on a regular basis to
ensure investors that principal and interest payments will be made as promised. Sinkable bonds reduce the

6 © Baruch College, 2013. All rights reserved.

 risk for investors and therefore enable the issuer to pay a lower interest rate on the sinkable bond being
issued.
Convertible A bond that can be converted into a predetermined amount of the company's equity at certain times during
its life, usually at the discretion of the bondholder.

Series Type
MTN Medium-Term Note, usually with a maturity date between 5-10 years
EMTN Euro Medium-Term Note, issued outside the United States and Canada with a maturity of less than five years.
144A Refers to a bond that follows the SEC rule modifying a two-year holding period requirement on privately placed
securities to permit qualified institutional buyers to trade these positions among themselves.

Credit Rating & Company Risk. Credit rating agencies are an important fixture in the bond for their opinions of debt
issuers’ relative ability to meet their debt obligations. The ratings themselves are measures of the issuer’s probability of
default as well as the expectations of loss given default.

There are dozens of credit agencies globally that issue credit ratings for issuers of different countries and for specific
industries. Bloomberg provides access corporate credit ratings with the function CREDIT RATING PROFILE [CRPR]. CRPR typically
displays the major international ratings agencies Moody’s and Standard & Poors and Bloomberg’s own Quantitative Issuer
Rating. Bloomberg grants access to other rating agencies such as Fitch and A.M. Best as well through different functions
and on security descriptions.

Ratings are provided at CRPR for debt by maturity and collateralization. Figure 5 displays all the different issuer ratings
addressing the overall credit strength of an issuer, GE, and the credit strength of the company’s debt by maturity, secured
or unsecured, seniority and by geographic scope.

By choosing a rating users will see the history of any changes the agency has made in the past as well as when watches
on the rating. Note figure 6 for Moody’s Senior Unsecured Debt where an initial rating of Aaa was issued in 1982. In
January of 2009, Moody’s alerted the public they had put GE on watch, indicating a future change to the rating may occur.
Changes are color coded. In March of 2012 Moody’s downgraded GE to Aa2. The same procedure and downgrade
occurred in March and April of 2012.

Figure 6. The Credit Rating Profile screenshot for GE <EQUITY> CRPR <GO>

7 © Baruch College, 2013. All rights reserved.

Figure 7. Moody’s rating for Senior Unsecured Debt found at GE <EQUITY> CRPR <GO>

Users can view Company Tree Ratings, ratings for all subsidiaries with the option in the red horizontal bar.

Figure 8. The Company Tree Ratings screen from the Credit Rating Profile, GE <EQUITY> CRPR <GO>

RATD – Rating Scales and Definitions are available via the function RATD. This function provides both basic and
detailed definitions for each rating agency by type of ratings (by issuer, term, grade, etc.).

8 © Baruch College, 2013. All rights reserved.

Figure 9. S&P ratings example from the Rating Scale and Definitions Function, RATD <GO>

Investment grade and non-investment grade are noted in the S&P example above. More specific definitions are can be
found at the RATD function. A comparison of the top three agencies’ ratings is given below.

Fitch Moody’s S&P Prime

AA+ Aa1 AA+
AA Aa2 AA High Grade
AA- Aa3 AA-
A A1 A
A A2 A Upper Medium Grade
A- A3 A-
BBB+ Baa1 BBB+
BBB Baa2 BBB Lower Medium Grade
BBB- Baa3 BBB-
BB+ Ba1 BB+ Non-Investment Grade
BB Ba2 BB
BB- Ba3 BB- Speculative
B+ B1 B+
B B2 B Highly Speculative
B- B3 B-
CCC Caa CCC+ Substantial Risks
Caa3 CCC
Ca CC Extremely Speculative
Source: http://www.financialregulationforum.com/wpmember/wp-content/uploads/2011/09/Sovereign-credit-ratings-001.jpg

RATC - Company Credit Revisions are available via the function RATC. The default search provides the last 30 days of
credit changes. Bloomberg users can adjust the time range and filter by Credit Revision Rating Type (Short term, Long
term, Outlook etc.), Agency, Current Rating, Last Rating, Country and Industry Type. Under Company Name, users
can limit credit revisions by company titles.

9 © Baruch College, 2013. All rights reserved.

Figure 10. The Credit Revisions screenshot for GE <EQUITY> RATC <GO>

RSKC– The Company Risk dashboard is available via the function RSKC. This function displays several key indicators that
provide investors and debtors with some means to gage the riskiness of a company. Covering a wide range of risk
measures from probability of default to environmental social governance (ESG) to company litigations, these numbers in
isolation may not provide all the information needed to assess the riskiness of a company, but they provide a decent
starting point for delving deeper into company operations and comparing these indicators against peers or industry
groups.

Where the
blue icon is
available,
users are
given the
option to look
at more details
and the
calculations for
the indicators

Figure 11. The Company Risk screenshot for GE <EQUITY> RSKC<GO>

10 © Baruch College, 2013. All rights reserved.

Hillegeist 1 Year Probability of Predicts the probability of default with the next year.
Default
AI AGR Score Audit Integirty’s Accounting and Governance Risk score
H-Watch Score H-Score is a measure of a company’s Fundamental financial health.
Altman Zscore This metric was developed by a NYU Professor in the 60’s and predicts probability of
default
ISS GCQ Index This is a relatively new method for tracking corporate governance, board structure,
compensation, audit, ownership.

ESG Disclosure Proprietary Bloomberg Score to gauge a company’s Environmental Social and
corporate governance disclosure.

With regards to the Corporate Governance Scores, keep in mind there are risk metrics beyond those included here, but
these have been chosen by Bloomberg to be included in the RSKC dashboard. The Zicklin School of Business also has
made contributions in this area with the Baruch Index of Corporate Political Disclosure from the Robert Zicklin Center for
Corporate Integrity. http://www.baruch.cuny.edu/baruchindex/

Searching for Corporate Bonds is easy. The command is GE <CORP> <GO>. This retrieves corporate bonds for GE keyed to
the ticker. For GE, there are +5,000 bonds available. In this function the user can view 1-20 and scroll through to see
more.

Asset classes

Fixed Income
Categories

Figure 12. The company bonds list screenshot for GE <CORP> <GO>

If we choose the first bond listed, the user can retrieve a menu screen listing functions to explore more information about
this bond.

11 © Baruch College, 2013. All rights reserved.

Figure 13. The screenshot for GE 3.1 01/09/23 <CORP> <GO>

The main menu’s categories cover Price Discovery, Analytics, Relative Value, Hedging, Scenarios, Descriptive, etc. Clicking on any of
these categories will return more functions beyond the couple listed on the initial equities screen. Figure10.shows us an
example of this with Description. By clicking Description, the user can view more options under this category as well as more
categories: Security Description, Issuer Description, Rating Functions, Holdings and Research & Filings.

The ticker for a corporate bond includes the company ticker, the coupon rate (rate of return on the debt, the amount paid
at each coupon) and the maturity date: GE 3.1 01/09/23.

Stock Ticker Coupon Rate

Maturity Date

In the Description function we have eleven pages of information for this bond from 1) Bond Info to 11) Coupons (Fig 10.).

12 © Baruch College, 2013. All rights reserved.

Figure 14. The company bonds list screenshot for GE 3.1 01/09/23 DES <GO>

Security Identifiers. Since the tickers for bonds are sometimes cumbersome to remember and reconstruct, Bloomberg
also provides security identifiers. These numbers are standard identifiers used across different financial information
platforms, the one exception being the BB Number, which is specific to the Bloomberg terminal. These identifiers can be
found in 6) Identifiers.

CUSIP Committee on Uniform Securities Identification Procedures is a 9 alpha-numeric identification number for
the United States and Canada issued by the American Banking Association – The first six digits identify the
issuer and the last three identify the issue
ISIN International Securities Identification Number. The ISIN 12 alpha-numeric character consisting of a two-
letter country code, followed by the nine character national security identifier, and a check digit.
Common Common code is a 9 digit identification number assigned by EUROCLEAR and Cedel
BB Number Bloomberg Identification Number

3. Displaying Yield Curves

To graph a yield curve of our chosen bond against a benchmark, users can utilize the function CG, Graph Curve. To include
the benchmark, as in the example in Figure 11 the US Treasury Actives Curve, browse for curves in <Add Curve> or choose
a recent or related curve from the Curve List .

In the example below, our bond GE 3.1 01/09/23 is plotted against the US Treasury Actives Curve and the USD US Composite AA BVAL
Curve.

13 © Baruch College, 2013. All rights reserved.

Figure 15. Displaying Graph Curves, for a security, GE 3.1 01/09/23 <CORP> GC <GO>

Other bond functions to explore:

• Bond Holders GE 3.1 01/09/23 <CORP> AGGD
• Aggregated Debt GE <EQUITY> AGGD
• Yield Analysis GE 3.1 01/09/23 <CORP> YAS
• Bond Yield Forecasts BYFC for forecasted benchmark yields
playiYield Curves
4. Security Finder & SRCH
The Security Finder [SECF] is the search function for all securities of all asset classes as well as statistics, indices and funds.
When searching for a security in a specific asset class, it’s best to narrow down the results by the Security Finder tabs on the
top.

14 © Baruch College, 2013. All rights reserved.

Figure 16. Securities Finder, SECF <GO>

Users may also search bonds for multiple companies and by several criteria: Industry, geographic region, credit rating, etc
via the function SRCH. Note the Advanced Search for more search options.

Advanced Search

Figure 17. The company preferred stock screenshot for SRCH <GO>

15 © Baruch College, 2013. All rights reserved.

 5. Preferred Stock

Figure 18. The Preferred Stock menu, F7 Pfd <GO>

Although Preferred Stock is technically equity, it does contain some features similar to debt. First, preferred stock pays a
fixed rate of return to holders called a dividend. Second, preferred stock holders have priority over common stockholders
in the case of these dividend payments and in the event of liquidation because of bankruptcy.

To view a company’s preferred stock issues, simply execute the following command: GE <PFD> <GO>.

As you can see from Figure 14, each security is listed with characteristics familiar to what we see with bonds: rate of
return in the form of dividends, maturity, series, currency, redemption type and maturity date.

Figure 19. The company preferred stock screenshot for GE <PFD> <GO>

16 © Baruch College, 2013. All rights reserved.

Figure 15 shows the security description screen for General Electric’s preferred stock. Notice there are two pages of
information. From the first page we can note that stock is cumulative, meaning the dividend is accrued until fully paid at
the dividend pay date (in this case 1/24/2011). The dividend (Div) is 6% and is fixed-rate. Amount issued is 40,000,000
SHR and the par amount is 25.

The Call Schedule follows on page 2. This shows that the stock may be called in full or part any time after 4/24/12, but the
holder must be given 30 days notice.

Figure 20. Preferred security display for GE 6.2 12/31/21 <PFD> DES <GO>

Figure 21. Call schedule for GE 6.2 12/31/21 <PFD>

17 © Baruch College, 2013. All rights reserved.

 6. Municipal Bonds

Fig 22. The Municipal Bonds menu, F6 Muni <GO>

Fig 23. Search for municipal bonds by municipality, SMUN <GO>

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Fig 24. Search the Bloomberg Muni Universe using MSRC<GO>

Fig 25. Search results using MSRC<GO>

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Fig 26. An example of a municipal bond security description.

Fig 27. Page 2 of an example of a municipal bond security description.

20 © Baruch College, 2013. All rights reserved.

Fig 28. Choosing the issuer description for municipal bond via SMUN <GO>

Fig 29. Credit ratings for states, STGO <GO>.

For City Issuer Ratings, CTGO <GO>

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 7. Government Securities

Fig 30. The Government Securities menu, F2 Govt <GO>

8. Mortgage-Back Securities

Fig 31. The Mortgages menu, F4 Mtge <GO>

22 © Baruch College, 2013. All rights reserved.

 9. Money Market & Sovereign Debt

Fig 32. The Money Market menu, F6 M-Mkt <GO>

Fig 33. The Bloomberg Treasury & Money Markets, BTMM <GO>

23 © Baruch College, 2013. All rights reserved.

Fig 34. Sovereign Debt Ratings, CSDR <GO>

Fig 35. Sovereign Debt Monitor, SOVM <GO>

24 © Baruch College, 2013. All rights reserved.

Fig 36. Sovereign Debt Ownership, DEBT <GO>

10. New Issues and Fixed Income Monitoring

Below is the Fixed Income Trading [FIT] or the [BBT], [FITG] Government Bond Markets Monitor.

Fig 37. Fixed Income Trading and Monitoring, FIT <GO>

25 © Baruch College, 2013. All rights reserved.

Fig 38. New Issues Monitor, NIM <GO>

11. Bloomberg University - Review

Bloomberg University is the users’ access point to all Bloomberg-provided educational resources. The command to
access Bloomberg university is [BU <GO>] (Figure 20). Through Bloomberg University users can access the following:

• Bloomberg events & seminars happening in New York City or throughout the world
o Attend free seminars at Bloomberg headquarters
• Access training documents by market sector and job function
• Recent enhancements to the Bloomberg Professional service
• The Bloomberg Essentials Online Training Platform [BESS <GO>] (Figure 21)
o In addition to the Subotnick Center workshops, Bloomberg offers online self-directed training on the
Bloomberg platform. There are four core courses and upon their completion an exam. Next are market
sector modules, addressing equity, fixed income, forex and commodities, each followed by its own exam.
Upon your successful completion of the exams (75%), you can request an “Acknowledgement of
Completion” certificate.
o To participate in this training, you should first establish an account in your own name on our Bloomberg
terminal; otherwise, the certification will be in the name of the Subotnick Center. Once logged in on the
terminal, type BESS and enter and you will reach the page below. You must also bring your own
headphones to listen to the videos (Figures 22, 23).
o Please see one of the assistants if you have any questions.
• Online Training Videos

To sign up for the Bloomberg events/seminars or participate in the BESS exams, users must sign up for their own
username and password.

26 © Baruch College, 2013. All rights reserved.

Figure 39. Bloomberg University, BU <GO>

Figure 40. Bloomberg Essentials Online Training Platform BESS <GO>

27 © Baruch College, 2013. All rights reserved.

 Follow the directions provided to
set up a new login and password.

Figure 41. Bloomberg login screen, Create a new login

Fill in the fields, and

continue the login
creation following
steps 1-4.

Figure 42. At the login screen, follow the directions to set up your username and password 1) Continue

28 © Baruch College, 2013. All rights reserved.

 12. Assistance - Review
Please see one of the assistants if you have any questions. If you have additional questions about Bloomberg
Functionality, please e-mail: ryan.phillips@baruch.cuny.edu

Conditions and Rules for using the Wasserman Trading Floor / Subotnick Center

Use of the Wasserman Trading Floor / Subotnick Center is subject to the following conditions and rules:

1) You must have a valid Baruch or CUNY ID Card to use the facilities. Keep your ID with you at all times.
2) The use of the Center is restricted to educational purposes only. Use of the facilities for commercial or personal
investment purposes, or to support student internships or other employment is strictly forbidden.
3) Trading or auctioning activities of any kind via any medium (internet, telephone, PDA, etc.) within the Center is
strictly forbidden.
4) Cell phone use is forbidden within the Center.
5) Real-time and delayed data may not be captured or re-transmitted in bulk, without exception.
6) Historical data may not be captured or retransmitted in any way. Permissible exceptions are limited to either
a. A specific assignment given by a professor for a Baruch course or
b. Written permission of the Center Director. Students should be prepared to produce documentation
supporting the above.
7) Downloading or installing software of any kind, including but not limited to search bars and instant messaging
clients, is strictly forbidden.
8) Tampering with, damaging or removing any hardware or software in any way is strictly forbidden.
9) Food and beverages are strictly prohibited from the Trading Floor, Seminar Room and Development Classroom
areas.
10) Please keep conversations and personal audio devices to a low volume so as not to disturb others.
11) This lab does not provide local storage of data. Computer workstations automatically log off after 30 minutes of
inactivity and all working data is erased.
12) The Center staff is not responsible for lost or stolen items. Please keep your valuables with you at all times.

Failure to adhere to these terms and conditions will result in removal from the facilities.

The Center staff reserves the right to monitor the activities of users of the Center and to verify student ID cards with
the security desk.

29 © Baruch College, 2013. All rights reserved.