"Contributions is the lifeblood of the real-time market data industry", stated Mike, but until now there has been no forum for all parties to meet and discuss opportunities and challenges. At each User Group, one vendor will have the opportunity to detail its contributions strategy, followed by an open session with users, vendors and solution providers discussing the issues that impact every aspect of the contributions industry. Mighter Gissing will also seek user feedback to inform the development of its contribution software.
The New Era - The New Reuters
At this first meeting, Jon Robson, Executive VP, Global Fixed Income at Reuters, led the debate on the importance of "realising the value of your content as a means to attract order flow". Robson described Reuters as entering a "new era" where partnership with the markets and the players that drive liquidity is key. As banks come under increasing cost pressure and trading operations seek ways to achieve profitable revenue growth, market presence and share, Jon emphasised the importance of strong content distribution to drive market liquidity and realise revenue.
Reuters' strategy is to act as a "neutral distribution partner" that can offer existing and significant connectivity to the right audience and enhance the power of individual content with value-adding content applications and news. Robson stressed Reuters' "attitude change" to being a responsive partner that can offer real understanding of the business needs of its customers. This extends to relationships with solution providers such as Mighter Gissing, whose contribution solution Robson supported as enhancing Reuters' ability to work efficiently with banks seeking to reach their audiences by integrating their content with the community that Reuters can reach for them.
"This is the new Reuters - our capabilities are yours to use. Our open technology is open to your technology." Reuters Messaging will enable content sources to interact directly with consumers of their prices and applications as they are displayed across Reuters' distribution. Reuters' "uniquely open" technology will allow each bank to deliver the full capability of its content, applications and trading solutions in their native form, so the bank can differentiate its brand as it reaches out to customers over Reuters. Robson stated that Reuters will help its customers build sales exposure and attract incremental order flow from a "premium audience".
Lesli Fairchild, Head of Global Contributions, went on to provide an example of how Reuters is adding value to contributed data with an overview of a CDS Display Template page.
ConteX as an STP Gateway
Mighter Gissing Director, Richard Gissing, updated users on the latest developments to multi-vendor contribution system, ConteX. The development of several trade capture feed handlers for routing electronic trade confirmations into back office systems means that ConteX can now function as an STP Gateway.