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

Thomson Reuters Embeds Tagging Technology to Improve Transparency of Benchmark Submissions

Subscribe to our newsletter

Thomson Reuters has embedded tagging technology into its Enterprise Platform software with the aim of helping banks improve transparency and reporting around benchmark submissions and other contributed data. The development is a timely response to the issue flagged by the recent penalties imposed on banks for rigging of the key Libor benchmark.

The Thomson Reuters offering works by adding tags to information that is published to the platform and include details of the publisher and a timestamp. This information can then be analysed to spot any exceptional activity and the tags can be used to create an audit trail of publishing activity for compliance purposes.

The company started work on the solution about 18 months ago in response to banking customers’ concerns about benchmark-fixing investigations. It delivered an upgraded release of the Enterprise Platform software including embedded tagging capability last week and is close to production with a managed service following beta testing with a large bank.

The upgraded release of the Thomson Reuters Enterprise Platform allows users of the software to build apps using tags within their own compliance environments, perhaps capturing tagged data and analysing it in real time for exemption management, or integrating the data into existing audit and reporting tools.

The managed service has been developed by Thomson Reuters with Datawatch Panopticon and uses an analytics engine and reporting tools provided by Thomson Reuters and visualisation tools from Datawatch Panopticon. The service is browser based and initially includes tagging and analysis for submissions to the Sibor benchmark, although it will be extended to other benchmarks and rate fixings depending on customer demand.

Brennan Carley, global head of the Elektron platform at Thomson Reuters, notes that there is no explicit regulation around reporting benchmark submissions, but suggests banks will be in a better position if they improve transparency around such submissions and other contributed data.

He explains: “This capability gives compliance officers visibility of what is happening on the trading desk in real time. It also gives them a historic perspective and an audit trail so they can demonstrate what traders have done and how they are implementing their compliance policies. A knock-on from this is that traders know that compliance officers have visibility of what they are publishing, which could be an incentive for correct behaviour.”

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Navigating a Complex World: Best Data Practices in Sanctions Screening

5 November 2025 10:00am ET | 3:00pm London | 4:00pm CET Duration: 50 Minutes As rising geopolitical uncertainty prompts an intensification in the complexity and volume of global economic and financial sanctions, banks and financial institutions are faced with a daunting set of new compliance challenges. The risk of inadvertently engaging with sanctioned securities has...

BLOG

Juniper Square Seeks to Democratise Private Markets with Data

Juniper Square has, from a virtual standing start, become one of the fastest-growing providers of data and investor services to private-market participants. Earlier in the summer it received a US$130 million series D capital injection that underscored its prospects and valued the company within unicorn territory. That’s unsurprising for a company whose platform has, since...

EVENT

Data Management Summit London

Now in its 16th 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

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...