London – Reuters, (LSE: RTR, NASDAQ: RTRSY) the global information group, today unveiled plans to help banks extend the reach and distribution of their tradable prices and liquidity over Reuters 327,000 desktops via a new advanced suite of electronic trading capabilities. The new transaction capabilities are a key component of Reuters transformation and will be a central feature in Reuters 3000 Xtra and Reuters Trader product families.
Tom Glocer, Reuters Chief Executive, commented, “As banks and institutions and clients demand the aggregation of fragmented liquidity pools across asset classes, we see a great opportunity for Reuters. Our neutral platform has the scale, openness, and the community to help banks distribute their prices globally and cost effectively, while preserving their ability to differentiate and compete through their brand and depth of offer. In addition to decision support, Reuters products increasingly will be valued as an on-ramp to liquidity across asset classes.”
Reuters Fixed Income and Equities trading plans announced today will feature executable prices on a broad range of instruments and advanced algorithmic trading strategies from leading industry players, such as ABN AMRO, Bank of America, Deutsche Bank, Dresdner Kleinwort Wasserstein, Goldman Sachs, JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, Rabobank, RBC Capital Markets and UBS, with others expected to join in 2005. The remaining component, aimed at bringing foreign exchange trading will follow and builds on Reuters leading global foreign exchange business.
Buy-side participants such as hedge funds, asset managers and corporates will be able to access and trade on real-time executable prices from major global liquidity providers with a common format, user interface, single sign-on and open-access. This is particularly important as more institutions look across asset class for their investment and trading strategies. The deployment of open interfaces and support for industry accepted protocols enable the integration of third party algorithmic strategies and proprietary “black box” trading tools. The trading capabilities are supported by Reuters comprehensive, real time news and powerful analytics within the Reuters 3000 Xtra family products, allowing traders to manage their trading positions effectively.
The trading capabilities will be available as part of the flagship Reuters 3000 Xtra, Reuters Station and Reuters Trader. The capability was built using Reuters proven automated dealing technology, which came from the company’s AVT acquisition led by Mark Redwood and sits under its Next Generations Transaction group.