The complexity of the platform is cumbersome.

In first place you need a special purpose terminal (the Keyboard essentially) because you need special functions, that are only found on that keyboard.

Second the usability of the thing. It's just appalling. To search a quote you need to know codes similar to the names of x86 CPU register (not jocking... you want to search by topic? TNI <Go key>. Want to view some equity analysis? Hit <Equity key> NN <Go key>). The interface is confusing, cluttered, horrible to navigate through, and concept of "back" is skittish at best.

For the privilege of a steep learning curve, horrible design, proprietary formats, little integration with outside tools (except for Excel) and a horrible looking keyboard, you pay 1500$ a month.

They are, however, the best source for Data in the market. Stocks, futures, fixed income, you name it, they have a price quote for it.

So yes, it's a good market for disruption. But (there is always a "but"): it's not a easy market to get in, and bloomberg as a very good choke on the Banks. The other competitor is Reuters. And IMO, it's easier to disrupt B2C companies. B2B reminds me of the "Nobody ever got fired for buying MS". Well, no trader desk director ever got fired for buying Bloomberg.

I've actually put a lot of time and thought into this very question and am happy to discuss with you further. gberrio has hit a lot of the points. No one can compete with their database of deals and pricing but I think that so much changed post Lehman that you can get away with going back to 2007.