Following the statement by CEO Tom Glocer at the start of the year that the newly merged firm would benefit from “synergies” between the two businesses, the media group and financial data provider has announced that it is linking two of its key products in the back office space. Thomson Reuters has linked its investment accounting system Portia to DataScope Select, its global pricing and security reference data offering.
Accordingly, Thomson Reuters says this link represents another step forward in the integration of the former Thomson Financial and Reuters suites of products. Through the newly built interface, Portia clients will be able to use DataScope Select’s pricing and reference data for portfolio management and valuation as well as investment accounting. The new link allows clients to add DataScope Select security data directly into Portia’s investment accounting platform.
Accessing DataScope Select through Portia will provide benefits to financial market participants that are required to meet the requirements for portfolio valuations and reporting, fund performance measurement and analysis, and regulatory and compliance reporting, says Thomson Reuters.
Jon Robson, president of enterprise, Thomson Reuters, says: “In today’s market climate of heightened risk and regulatory pressures, staying competitive requires enterprises to pay closer attention to the middle and back office. Thomson Reuters aims to help its customers do just that. The linking of Portia and DataScope is a leading example of taking the best of both companies’ assets to deliver leading data to achieve operational efficiencies in valuation, client reporting and portfolio management.”