Reuters has added an enhancement to Reuters DataScope Select which will see its corporate actions data updated hourly, rather than once a day. Users will be able to monitor portfolios more actively by choosing how often they receive updates and paying according to the quantity of data they use. Reuters clients will now be able to monitor corporate actions data on an hourly basis, enabling them to keep up to date with information drawn from over 50,000 companies in over 70 countries. They will be able to select only the data they require, which includes dividends, initial public offerings and mergers and acquisitions information, and pay only for the data they consume.
The move follows clients’ requests for reference data and pricing information throughout the trading day in response to the increased complexity of trades and rising volumes driven by market instability. Tim Rice, Reuters Global Head of Fund Administration, says: “Recent market conditions have meant our clients need greater visibility over what is happening in their portfolios than ever. Hourly updates on what companies are doing will give them the valuable information they need – when they need it.”
Reuters competitor Interactive Data recently began delivering corporate actions information in North America on an intraday basis – every two hours.