About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Eikon Reaches ‘Tipping Point’ as Thomson Reuters Halts New-Client Sales of 3000 Xtra

Subscribe to our newsletter

Thomson Reuters has halted sales of its 3000 Xtra premium desktop service to new clients, in a move seen as a vote of confidence in successor desktop product Eikon. As of July 31, Thomson Reuters’ sales teams will offer new clients Eikon as the sole choice of premium desktop, although existing 3000 Xtra clients will be able to add to their existing subscriptions.

The decision to withdraw 3000 Xtra in favour of Eikon reflects management thinking that Eikon is now ready for prime-time. The system – heralded as Thomson Reuters’ next-generation desktop – has had a difficult start since it was launched two years ago, as evidenced by the continued sale of 3000 Xtra as a premium desktop option.

According to Peter Moss, managing director of the new Trading group at Thomson Reuters Financial & Risk, the decision to halt sales of 3000 Xtra wasn’t a sudden one. “We’ve been working over the past six to 18 months to build the momentum behind Eikon,” he says. “We felt we had got to the point where the balance tipped and we could focus on Eikon solely in the premium desktop space.”

Moss describes instances of ‘client pull’ where customers have requested migration of their entire stock of 3000 Xtras or other providers’ premium desktops to Eikon. In a memo to sales teams last week, Moss and Investors group head Neil Masterson said: “We’re delighted that customers now see Thomson Reuters Eikon as a compelling desktop platform with rich functionality and data coverage.”

Moss and Masterson went on to point out that “since the start of 2012, 89% of desktop sales to new clients were for Eikon, vs 11% for Reuters 3000 Xtra.”

In their memo, the two said “to reflect this shift and actively support efforts to upgrade customers to Eikon as soon as possible, Reuters 3000 Xtra will be withdrawn from sale to new customers as of July 31, 2012. It will still be available to existing customers.”

The memo says “existing Reuters 3000 Xtra users can continue to use the service and add users. Support will continue to be available for existing users of Reuters 3000 Xtra.”

Indeed, Moss says it’s too early to talk about an obsolescence plan for 3000 Xtra. “There is still a sizable population out there,” he says. “We are talking to everybody about Eikon, but people don’t have to roll over; they can move at their own pace. This won’t be a forced push.”

Elsewhere in its desktop product lineup, Thomson Reuters “will continue to offer Datastream Pro and Thomson ONE where they are currently the best options,” according to the memo. Moss sees applicability of these services primarily within the investment management, investment banking and wealth management segments, particularly in the US.

For those firms implementing Eikon alongside 3000 Xtra, Moss says, there are similar delivery and connectivity options. The Eikon desktop has been “thinned out” somewhat, he says, by moving certain elements of functionality upstream to Thomson Reuters’ data centres. Eikon users can opt to receive real-time data via the Internet or a terminal concentrator (a similar piece of kit to the 3000 Xtra controller), or they can opt to run Eikon as a desktop of their Thomson Reuters Enterprise Platform (the former Reuters Market Data System [RMDS]).

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: The challenges and potential of data marketplaces

Data is the lifeblood of capital markets. It is also a valuable commodity providing financial institutions with additional insight when gathered in an internal data marketplace, or packaged and sold externally to other institutions. While the theory is sound, the practice of setting up a data marketplace can be challenging. Internally, vast amounts of data...

BLOG

SIX Extends ESG Data Provision Through Partnership with Climate Specialist Urgentem

SIX has extended its provision of ESG data through a partnership with Urgentem, a provider of carbon emissions data and climate risk analytics. The data is available immediately and is expected to help SIX clients meet climate related requirements such as regulatory reporting of emissions data, tracking alignment to climate goals, and stress testing. The...

EVENT

Data Management Summit London

Now in its 13th year, the Data Management Summit (DMS) in London brings together the European capital markets enterprise data management community, to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

Regulatory Data Handbook 2022/2023 – Tenth Edition

Welcome to the tenth edition of A-Team Group’s Regulatory Data Handbook, a publication that has tracked new regulations, amendments, implementation and data management requirements as regulatory change has impacted global capital markets participants over the past 10 years. This edition of the handbook includes new regulations and highlights some of the major regulatory interventions challenging...