The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

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

Share article

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.”

Related content

WEBINAR

Upcoming Webinar: Entity identification and client lifecycle management – How financial institutions can drive $4 billion in cost savings

Date: 21 January 2021 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes A new model in Legal Entity Identifier (LEI) issuance has created significant opportunities for financial institutions to capitalise on their KYC and AML due diligence. By becoming Validation Agents and obtaining LEIs on behalf of their clients, financial institutions...

BLOG

Quantifind and OpenCorporates Expand Partnership to Fight Financial Crime

Quantifind, a software company providing solutions that boost the effectiveness and efficiency of anti-money laundering (AML) and fraud investigations, has expanded its collaboration with OpenCorporates, the largest open database of companies in the world. Building on their existing partnership, Quantifind plans to integrate the complete OpenCorporates database of more than 180 million companies from over 130...

EVENT

RegTech Summit Virtual

The highly successful RegTech Summit Virtual was held in November 2020 and explored how business and operating models are adapting post COVID and how RegTech can provide agile and enhanced compliance for managing an evolving risk and compliance landscape. The event featured daily live keynotes, panel discussions, presentations, fireside chats and Q&A sessions with content available on demand over five days.

GUIDE

RegTech Suppliers Guide 2020/2021

Welcome to the second edition of A-Team Group’s RegTech Suppliers Guide, an essential aid for financial institutions sourcing innovative solutions to improve their regulatory response, and a showcase for encumbent and new RegTech vendors with offerings designed to match market demand. Available free of charge and based on an industry-wide survey, the guide provides a...