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

Talking Intelligent Trading with Andrew Delaney: Don’t Kill the Messenger

Subscribe to our newsletter

Away from the surreality of the supposed real world of British politics, the past week has seen a resumption of action in the trader messaging space.

Thomson Reuters announced it has partnered with CME Group to combine their respective messaging networks, creating a critical mass in the derivatives markets. Earlier, Thomson Reuters said it was pushing its messaging platform in the energy market, where a lot of the action apparently takes place over Yahoo Messaging.

Could all this action represent a re-opening of hostilities in trader messaging, a segment that many of us believed had been sorted by the emergence of the industry-backed Symphony initiative?

It seems that Thomson Reuters and others don’t subscribe to that latter thought. Symphony was the industry’s response to the need to create a viable, agnostic alternative to the near-monopolistic Bloomberg Messaging platform in the wake of alleged abuses on that system by Bloomberg editorial staff. It has established a robust messaging platform that’s been adopted by the likes of Goldman Sachs. But some believe its ambitions go much further than that, fuelled by the healthy funding pot provided by its member owners.

At our own Intelligent Trading Summit in London back in February, Symphony outlined extensive plans to offer many services beyond messaging – data, analytics, news and so on – all accessible through its own delivery framework. The impression was of a comprehensive trader workstation offering. This may explain why Thomson Reuters now seems to be pushing its own messaging solution so heavily.

Elsewhere, the past several months has seen the piecemeal emergence of so-called collaboration tools from the various suppliers of voice systems to the financial markets marketplace. Several trader turret providers are in the process of adding messaging to their platforms; indeed, a friend in the voice systems space recently remarked how crowded the segment had become, with the likes of BT, IPC/Etrali, IFS/ITECH/Telstra, Cloud9, IP Trader/Cisco, Green Key Tech, SpeakerBus and others all looking to add to their trader collaboration capabilities.

The Bloomberg debacle of a couple of years ago – wherein Bloomberg News reporters were allegedly snooping on Bloomberg Messaging users – sparked industry demand for an alternative messaging platform. With Symphony now looking at more ambitious aims, the marketplace seems to be fragmenting. This may add a level of complexity that the trading community doesn’t necessarily want or need, as entrants old and new vie for critical messaging mass.

Time and cash-strapped trading technologists may not be thrilled by this development, but as they say: Don’t kill the messenger.

Subscribe to our newsletter

Related content


Recorded Webinar: The emerging structure of the institutional digital assets market

As interest in trading digital assets continues to increase among institutional investors, so too does the need to focus on market structure, regulation and trading solutions. For financial institutions that get it right the rewards will be significant, but it is not necessarily easy and the challenges are many. This webinar will consider how digital...


Crédit Agricole CIB Implements Opensee’s Advanced Market Risk Management Platform

Opensee, the specialist data analytics platform for financial institutions, has successfully rolled out a new market risk management solution for the front office users of Crédit Agricole Corporate & Investment Bank (CACIB). The new solution consolidates multiple data sets from varied sources into a single repository, rather than the previously segregated systems used for each...


TradingTech Briefing New York

Our TradingTech Briefing in New York is aimed at senior-level decision makers in trading technology, electronic execution, trading architecture and offers a day packed with insight from practitioners and from innovative suppliers happy to share their experiences in dealing with the enterprise challenges facing our marketplace.


Regulatory Data Handbook – Fifth Edition

In response to the popularity of the A-Team Regulatory Data Handbook, we have published a fifth edition outlining the essentials of regulations that are likely to have an impact on data and data management at your organisation. New to this edition is a section on RegTech, covering drivers behind the development of innovative regulatory technology,...