For better or worse, many things happen in Wall Street as a continuation of market convention.
Why do people use Bloomberg rather than email?
Why is Sybase the standard?
Why is so much done in Excel?
There are a half dozen reasons for each of these (and a dozen more that they shouldn't be) but the common link is, "It's the market standard, and it's hard to change the standard."
Comments
For better or worse, many things happen in Wall Street as a continuation of market convention.
Why do people use Bloomberg rather than email?
Why is Sybase the standard?
Why is so much done in Excel?
There are a half dozen reasons for each of these (and a dozen more that they shouldn't be) but the common link is, "It's the market standard, and it's hard to change the standard."