Bloomberg adds Twitter feeds to financial platform on heels of new SEC rules
Bloomberg LLC’s terminals, used by financial analysts and traders around the world, will now integrate Twitter feeds to help investors watch for market-moving information.
The new feature, which Bloomberg announced on Tuesday, comes after the Securities and Exchange Commission updated its disclosure rules to say that public companies can now reveal important news on social media platforms like Twitter and Facebook.
For practical purposes, Bloomberg’s decision means traders will not have to monitor a separate screen to watch for companies or executives that announce news on Twitter. While most market-moving news still arrives by way of traditional news wire agencies or official websites, social media sites are becoming an increasingly important tool for distributing such information.
The SEC’s rule to allow social media disclosures comes after an investigation into Netflix CEO Reed Hastings’ decision to share relevant corporate information through a Facebook post.
Under the new rule, public companies that want to use social media platforms for market-moving news must first tell investors that they are doing so.
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