Thomson Reuters Symbology Made Available for use Across the Trade Lifecycle
(Thomson Reuters ONE) -
BATS Chi-X Europe is named as the first institution to sign up for the new
service
LONDON, 27 June 2012 - Thomson Reuters today announced that it will facilitate
financial market institutions' trade processing needs by making its Reuters
Instrument Codes available to financial institutions beyond its desktops and
feeds. This new offering, which will allow customers and any other financial
market participant to use its instrument codes for trade processing purposes, is
in response to customer demands and recognises the value and integrity of
Thomson Reuters symbology.
Thomson Reuters today also announced that BATS Chi-X Europe, the largest
European equities exchange by market share and notional value, has signed up for
the service. This launch supports Thomson Reuters vision to connect and enable
the global financial community and represents a step forward in addressing the
financial community's symbology needs across all parts of the trading life
cycle.
"This move by Thomson Reuters comes at a crucial time as the market faces
serious pressure from the regulatory community and the C-level to get a better
handle on data across the organization for reporting purposes and to better
inform business decision-making," said Virginie O'Shea, post-trade technology
analyst at Aite Group. "There is little appetite and scarce resources to adopt a
new standard, so being able to work with one of the established data symbologies
across the trade lifecycle will enable firms to tackle the cross-referencing
exercise on the front foot."
As financial markets have evolved, there has been a proliferation of trading
venues and participants and exponential growth in trading volume, adding
complexity, cost and operational risk. New regulations have also increased the
burden of risk management and trade reporting, all while the market experiences
growing competition for trade flow. The launch of the new service paves the way
towards more efficient and reliable capital markets by providing market
participants the freedom to use Reuters Instrument Code (RIC) symbols
irrespective of whether or not they use Thomson Reuters enterprise data
products.
"Cross referencing the BATS Chi-X Europe instrument codes with the Thomson
Reuters RIC symbols will enable us to reach new market participants as well as
improve efficiency and data transparency by facilitating accurate identification
of securities on our platform," said Paul O'Donnell, chief operating officer,
BATS Chi-X Europe. "We welcome this move by Thomson Reuters and are pleased to
sign up to this offering."
Thomson Reuters new service will allow market participants to use and cross
reference the RIC symbol for trade activities. It will facilitate the
advertisement of liquidity, acceptance of trade flow and execution of post trade
activities with the RIC symbol as a consistent identifier throughout the
process. Additionally, the service will allow Thomson Reuters pricing and
reference data customers to use RICs to reference and retrieve securities data
from their securities master databases and navigate to connected content such as
legal entity information.
"The RIC's unique characteristics make it a natural choice for the
identification of securities in trade processing. By offering the RIC to all
market participants Thomson Reuters promotes operational efficiencies and
supports competitive advantage as financial market participants can more
reliably communicate with each other and capture more order flow," said Gerry
Buggy, global head of Enterprise Content at Thomson Reuters. "As our customers
move to meet regulatory demands and reduce costs, we are pleased to take this
first step in supporting the financial community's symbology needs across all
parts of the trading life cycle through our evolving symbology services."
RICs are alphanumerical symbols that are an integral part and the centrepiece of
the information service products the company offers, as they enable its
customers to identify and retrieve data from its desktops, feeds and other
content services. RIC symbols are provided for a broad range of content from
Thomson Reuters across equities, bond markets, FX and money markets, commodities
and energy, funds, indicators/indices and derivatives.
Thomson Reuters
Thomson Reuters is the world's leading source of intelligent information for
businesses and professionals. We combine industry expertise with innovative
technology to deliver critical information to leading decision makers in the
financial and risk, legal, tax and accounting, intellectual property and science
and media markets, powered by the world's most trusted news organization. With
headquarters in New York and major operations in London and Eagan, Minnesota,
Thomson Reuters employs approximately 60,000 people and operates in over 100
countries. Thomson Reuters shares are listed on the Toronto and New York Stock
Exchanges. For more information, go to http://thomsonreuters.com.
CONTACTS
Yvonne Diaz Lemuel Brewster
Director, External Communications & PR PR Director
Financial & Risk Investors
+44 20 7542 2615 +1 646 223 5147
yvonne.diaz(at)thomsonreuters.com lemuel.brewster(at)thomsonreuters.com
Press Release PDF:
http://hugin.info/142273/R/1622262/518467.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Thomson Reuters Corporation via Thomson Reuters ONE
[HUG#1622262]
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Datum: 27.06.2012 - 04:00 Uhr
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