CBA: Azerbaijani banks not affected by information leakage from Bloomberg terminals
Azerbaijan, Baku, June 3 /Trend, A. Akhundov/
Azerbaijani banks were not affected by the information leakage from Bloomberg's financial terminals, Deputy Chairman of the Central Bank of Azerbaijan (CBA) Khagani Abdullayev said to Trend on Monday.
"Azerbaijani banks [Azerbaijani banks' foreign exchange transactions were transferred to Bloomberg's trading platform in 2011,] did not face any problems," Abdullayev said.
The Federal Reserve System and the US Ministry of Finance have started to check Bloomberg's activity. Bloomberg is one of the largest providers of financial information and off-exchange trade services. The accusations that Bloomberg could not provide its journalists with access to its clients' trade information were the reasons for the investigation.
Bloomberg has let the leakage of more than 10 thousand personal messages of the users from its own financial terminals.
Correspondence between traders of the largest global banks, such as Barclays, Citigroup, Deutsche Bank, Goldman Sachs, Nomura JPMorgan, Morgan Stanley, as well as, their clients was freely accessible on the Internet for several years.
The documents, of the 2009 and 2010 were containing the messages which were sent to the clients, which gave opportunity to Bloomberg to use the information on the price of securities, credit default swaps and other financial products. The messages contain unique identification codes of users, their true names and the e-mail addresses of traders, as well as, the confidential information on bargains.
In total the Bloomberg has 315 thousand terminals that provide the subscribers from all over the world with various information and trade services. The subscriber payment for each terminal can exceed 20 thousand US dollars per year (varies in accordance with the specter of the provided services). According to the results of the previous year the revenues from the Bloomberg's licensed terminals is 7.9 billion US dollars.