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

GFI Group and Thomson Reuters Extend Agreement to Cover Reuters Datascope Real-Time

Subscribe to our newsletter

GFI Group and Thomson Reuters have extended their existing data agreement, which has been in place since 2003, to incorporate Reuters Datascope Real-Time (RDRT). This means that Thomson Reuters customers may now subscribe to GFI market data via RDRT for use in algorithmic trading, risk management, portfolio pricing and valuations.

The agreement covers GFI credit derivatives, FX options and energy market data and GFI plans to extend this to equity derivatives and interest rate options early in 2009. Both vendors have had an agreement for the distribution of GFI credit since 2003 and the agreement was extended in 2005 to include FX options and again in 2007, to include a suite of energy data products from GFI.

Philip Winstone, GFI’s global head of data sales, says: “The previous agreements have licensed Reuters to distribute of GFI market data as an integral part of the desktop products such as their flagship 3000 Xtra product and to Reuters internal systems for the creation of derived data. This new agreement enables Reuters clients to subscribe to the data for use in non-desktop application environments.”

Winstone explains the background behind the recent deal: “GFI and Thomson Reuters have been discussing the extension of the existing agreement for some months. The timing of the extension signature is a factor of the contract negotiation and execution, rather than any other factors. Having said that, GFI has seen increasing demand over this year for its market data from a range of institutions, including bank mid and back office functions and companies offering reval and pricing services.”

GFI’s data consists of real market executable prices and actual trade data, which has become increasingly in demand over consensus or aggregated data sources, says Winstone. “From the GFI perspective we believe that making this data available via RDRT enables Reuters clients to have seamless access to GFI market data off the desktop,” he adds.

Mike Powell, global head, Enterprise Information at Thomson Reuters, says: “Our customers require high quality data to fuel not only their desktops but also the business critical applications that support their trading, risk and back office operations.”

The administration work required to make the data available via RDRT has been undertaken in parallel with the contract negotiation process, says Winstone: “So upon contract signature, the datasets as mentioned are available for RDRT clients.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: How to automate entity data management and due diligence to ensure efficiency, accuracy and compliance

Requesting, gathering, analysing and monitoring customer, vendor and partner entity data is time consuming, and often a tedious manual process. This can slow down customer relationships and expose financial institutions to risk from inaccurate, incomplete or outdated data – but there are solutions to these problems. This webinar will consider the challenges of sourcing and...

BLOG

SmartStream Reference Data Services Provides Derivatives Data for EMIR Refit

SmartStream Reference Data Services (RDS) has released an enhanced derivatives data service providing in-depth insights into futures related transactions and playing into EMIR Refit reporting requirements. EMIR Refit is geared towards enhancing transparency and stability in the OTC derivatives trading market and is set to take effect in April for Europe and September for the...

EVENT

TradingTech Summit London

Now in its 13th year the TradingTech Summit London brings together the European trading technology capital markets industry and examines the latest changes and innovations in trading technology and explores how technology is being deployed to create an edge in sell side and buy side capital markets financial institutions.

GUIDE

Preparing For Primetime – How to Benefit from the Global LEI

They say time flies when you’re enjoying yourself, and so it seems the industry have been having a blast with its preparations for the introduction of the global legal entity identifier (LEI) next month. But now it’s time to get serious. To date, much of the industry debate has centred on the identifier itself: its...