Symphony’s original backers included Bank of America, Citadel, Citigroup, Goldman Sachs and Morgan Stanley. But even with the support of these heavyweights, many of which have been under pressure to slash financial information costs running into the hundreds of millions a year, weaning traders off their terminals has not been easy. Bloomberg, for example, offers hundreds of functions other than chat, and habitually adapts the best features of its competitors to bundle into the terminal at no extra cost. As a result, it has been able to charge the highest prices in the industry — $25,000 a year for a two-year lease — while fending off competitors.

https://www.ft.com/content/c52fe67e-39bf-11e7-821a-6027b8a20f23