In the same week that Markit announced plans to acquire Cadis, rival data vendor Thomson Reuters has confirmed plans to exit the enterprise data management platform business. The company has decided to withdraw its Enterprise Platform for Data Management product, and will focus instead on enterprise content in the form of pricing, valuations, corporate actions and other reference data.
In response to enquiries from Reference Data Review, the company issued the following statement:
“Thomson Reuters confirms it is winding down its data management product. This move follows customers’ requirement for more bespoke, consultancy-led solutions for data management. The company is working closely with the limited number of customers affected to provide each customer with a suitable transition plan and ongoing support.
“Thomson Reuters commitment to meeting its customers’ data management requirements remains as strong as ever. In the current regulatory environment the Company sees a great need for bespoke solutions and will focus on providing customers with tailored solutions to optimize end-to-end data management through its Data Consulting business. The Company also continues to provide specialised data management solutions such as Thomson Reuters DataScope Legal Entity Data and DataScope Evaluated Pricing Service.”
According to sources, the decision to drop Enterprise Platform for Data Management was taken a few weeks ago. The platform had been under evaluation for some time. Following the various rounds of corporate reorganisations, responsibility for the platform had fallen to incoming executive Brennan Carley, who joined recently from Omgeo to lead the Elektron platform business. His remit appears include several of the responsibilities of the former Enterprise executive Terry Roche, who departed as part of the recent restructurings and was responsible for the Enterprise Platform (both for Data Management and for Real-Time).
The demise of Enterprise Platform for Data Management seems to mark the end of any commercial deployment of technologies Thomson Reuters acquired via its 2007 purchase of the M35 platform, elements of which were also used in the TopOffice risk management system, now spun off to Turaz.