After the Bloomberg outage a huge amount of sound and fury has been directed at the firm, indicating that Bloomberg has failed and that everyone needs to look at other products.
Let's look at this from a reasonable standard - the gold standard for uptime is so-called "five nines". The below table shows permitted downtime over time periods for 99.999% uptime. Note that I have not included leap years, leap seconds and other complications.
In 19 years of working in finance I can only recall one Bloomberg outage. So overall they do a pretty good job of keeping the system up and running.
I wonder how many firms that have leapt to attack Bloomberg will publish their own reliability statistics in order to allow an informed debate?
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