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

A-Team Insight Blogs

Stop Press: Thomson Reuters Drops Enterprise Data Management Platform

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.

Related content

WEBINAR

Upcoming Webinar: A new way of collaborating with data

Date: 15 April 2021 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Digital transformation in the financial services sector has raised many questions around data, including the cost and volume of reference data required by each financial institution. Firms want to pick and choose the reference data they need to fulfil...

BLOG

DSB Managing Director Emma Kalliomaki Outlines Issues in Progressing the UPI

As the Derivatives Service Bureau’s (DSB’s) first round of industry consultation on fee principles for the Unique Product Identifier (UPI) plays out, we talked to Emma Kalliomaki, managing director of ANNA and the DSB, about some of the issues involved in getting the UPI up, running and ready for its Q3 2022 release. Early conversations...

EVENT

TradingTech Summit London

The TradingTech Summit in London brings together European senior-level decision makers in trading technology, electronic execution and trading architecture to discuss how firms can use high performance technologies to optimise trading in the new regulatory environment.

GUIDE

Fatca – Getting to Grips with the Challenge Ahead

The industry breathed a sigh of relief when the deadline for reporting under the US Foreign Account Tax Compliance Act (Fatca) was pushed back to July 1, 2014. But what’s starting to look like perhaps the most significant regulation of the next 12 months may start to impact our marketplace sooner than we think, especially...