London… Investment bank Dresdner Kleinwort Wasserstein (DrKW) and global information company Reuters (LSE:RTR, NASDAQ: RTRSY) are pleased to announce a cooperation agreement whereby Reuters 3000Xtra and Reuters Trader for Commodities (RTC-Kobra) will link to DrKW’s GATOR (Global Access to Order Routing) system. This will provide mutual Reuters and DrKW customers with access to the GATOR order routing facility that provides authenticated customers direct access to transactional liquidity within the London Metal Exchange electronic trading system, LME Select.
This initiative, which goes live today, will enable mutual customers to route their orders directly from the Reuters 3000Xtra and Reuters Trader for Commodities (RTC-Kobra) systems through to DrKW’s GATOR system for execution at the LME.
Alex Wilkinson, Head of Listed Products at DrKW, commented, "This is a logical step in DrKW’s strategy to empower customers with direct market access via our GATOR system." Andy Rowland, Head of Digital Markets at DrKW added, "Electronic access and price transparency are at the heart of our drive to meet changing customer needs and grow demand for trading."
Under DrKW and Reuters’ agreement, GATOR’s advanced order book management, real-time P&L calculation, Request for Quote (RFQs) and trade reporting functionality will be accessible directly from Reuters desktops. From today Reuters subscribers will be offered a new screen or 'Kob sheet' which, when opened within the Reuters desktop environment, will for the first time incorporate Reuters pricing together with GATOR’s full range of execution and order management functions. This 'Kob sheet' has been developed primarily to support those trading the products listed on the London Metals Exchange (all customers will need to have a pre-agreed trading account with DrKW prior to receiving the kob sheet).
Mark Redwood, Managing Director of Next Generation Transactions at Reuters, says, "The ability to tap specific liquidity pools and route orders to other participants in financial markets from the Reuters desktop is a natural extension of our proposition, and helps us continue to meet the many information and transactional needs of our customers."