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Citigroup moving some traders off Bloomberg chat

The Associated Press

NEW YORK (AP) -- Citigroup's foreign currency traders will soon stop using a messaging system on their Bloomberg terminals and use an internal chat tool instead.

The change has been planned for months and affects only Citi's foreign-exchange traders worldwide. Other traders will still be able to use the chat function on their Bloomberg terminals. Foreign-exchange traders will also still have access to Bloomberg's instant-messaging features.

"This move has been in the works for some time and is unrelated to recent issues," said Jeff French, a spokesman for Citi in London.

The shift comes less than a week after news emerged that reporters at Bloomberg L.P. have had access to traders' private information through the company's terminals.

The Federal Reserve is looking into whether Bloomberg journalists tracked data about terminal usage by top Fed officials. Lawyers for JPMorgan Chase & Co. have also asked Bloomberg to turn over any records it has of reporters looking up the log-in and usage data of JPMorgan's employees.