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Reuters (LSE: RTR; NASDAQ: RTRSY) and HSBC Group have signed a new agreement that will for the first time give the bank a global licence to use Reuters data and information across the entirety of its business.

The agreement means that Reuters capabilities can now be fully applied to the rapidly expanding business needs of HSBC. It also supports HSBC’s ambition to standardise and rationalise its overall data costs and the number of data suppliers it has globally.

The deal delivers on Reuters stated aim of extending beyond the desktop to offer a complete business solution for an entire global organization. It will run for the next three years with an option to extend for a further two years.

Stuart Gulliver, Chief Executive, Corporate, Investment Banking and Markets and Group Investment Businesses HSBC, said: “Reuters was chosen as a strategic partner due to its unique ability to combine comprehensive market and reference data, analytics, transaction capabilities and open infrastructure within a single enterprise agreement. The benefits of this agreement will be felt right across HSBC’s business.”

Tom Glocer, Chief Executive Officer, Reuters, commented: “We are delighted to enter into this enterprise agreement with HSBC, deploying many of our latest Core Plus developments. It represents the form of broad partnership that only Reuters can deliver for our customers, combining content, desktops, datafeeds, transactions services and the software to enable them.”

Jon Robson, President Reuters Focus Group Accounts, said: “Deals such as this one with HSBC approach the delivery of information in a new way with the whole of an organization in mind, not just the terminal, and are the model for the future. This global agreement will help HSBC realise its business vision by unlocking significant value from Reuters products and information.”