WM/Reuters FX benchmark rates are spot and forward foreign exchange rates that are used as standard rates for portfolio valuation and performance measurement. The WM/Reuters Closing Spot Rate service was introduced in to provide standard forex rates that would enable portfolio valuations to be compared more accurately against each other and financial benchmarks, without having to account for currency differentials.
The WM/Reuters FX benchmark rates are provided by Thomson Reuters, which acquired the rate calculation business of the World Markets Company (WM) from State Street in
The original WM/Reuters service provided closing spot rates for 40 currencies daily. The service has since expanded to closing spot currencies covered on an hourly basis. In addition, WM/Reuters also provides closing rates for currency forwards and non-deliverable forwards (NDF) hourly intraday for spot, forward and NDF rates, as well as historical data.
While most major equity and bond index compilers use the WM/Reuters benchmark rates in their calculations, the rates are also used for other purposes such as calculating benchmark rates for the settlement of financial derivatives. Some banks also provide a service to their clients by providing a guarantee to trade at the WM/Reuters rates.
The WM/Reuters benchmark rates are determined over a five-minute fix period, from 2 minutes 30 seconds before to 2 minutes 30 seconds after the time of the fix, which is generally 4 p.m. in London. During this five-minute window, bid and offer rates from the order matching system and actual trades executed are captured. Since trades occur in milliseconds, only a sample is captured, rather than every trade. The median bid and offer are calculated using valid rates over the fix period, and the mid-rate is then calculated from them.
The importance of these rates lies in the fact that they are used to value trillions of dollars in investments held by money managers and pension funds. In , the method of fixing the WM/Benchmark rates came under intense scrutiny, after widespread allegations of collusion and rate manipulation by traders surfaced.
The onset of the digital revolution cultivated new ways to access information, leading to cutting-edge information platforms in Bloomberg and Reuters. Both Bloomberg L.P. and Reuters are now seen by many as the fastest and most credible digital information sources in the financial industry, providing data and financial news to hundreds of thousands of investors and traders globally.
These two companies are best known as rivaling the traditional outlets such as The Wall Street Journal, The New York Times, and The Financial Times for financial news. But their core services offer users much more than news. Core users of these two companies look to their offerings to find the most up-to-the-minute information available on trading metrics throughout the trading day.
To many investors, financial tools provided by Bloomberg and Reuters have been indispensable in helping them post rich returns and prosper during the bull market of the last decade. In fact, Bloomberg's meteoric growth in revenue and profit has made founder and majority owner Michael Bloomberg a billionaire, enabling him to finance his quest to become the next U.S. president.
Both companies are known for their robust multimedia platforms, with key offerings being the Bloomberg Terminal and the Refinitiv Eikon, (formerly known as the Thomson Reuters Eikon), as explained below.
Founder Bloomberg established the company bearing his name in Before his political career as a three-term mayor of New York City, Bloomberg was a well-known name on Wall Street. After being laid off from the investment bank he had worked at for 20 years, Bloomberg launched his business information platform.
Bloomberg LP provided quick, high-quality business information to Wall Street. In the early s, the company sold its first financial information system to Merrill Lynch, now a part of Bank of America Corp. (BAC). Merrill Lynch owned a stake in Bloomberg for years, which it later sold.
Today, Bloomberg LP is not only known for the Bloomberg Terminal but has become a global multimedia entity as well. The financial news and media company includes Bloomberg News, weekly magazine Bloomberg Businessweek, as well as radio and television broadcasts. Bloomberg employs more than 2, news professionals in countries, and offers clients access to research from more than 1, sources.
Even with a vast array of products and services, the Bloomberg Terminal continues to be Bloomberg LP’s core revenue-generating product.
The Bloomberg Terminal is an integral tool within the finance industry that is used to access, compile and analyze financial information. Over the years, the Bloomberg terminal has transformed into a system that is accessible anywhere.
Many companies rely on the terminal to assess individual securities, market movements, and monitor news simultaneously. An extension, Bloomberg Tradebook, allows formal trade execution through its messaging service. Traders, portfolio managers, and risk management analysts, among other financial professionals, rely on the program for daily market analysis and trading decisions. Currently, there are over , Bloomberg Terminal subscriptions worldwide.
Created from the Thomson Corporation's acquisition of Reuters, Thomson Reuters is a multinational media and financial information resource. Thomson Reuters prides itself on delivering leading intelligence on various sectors, from finance, tax, and accounting to legal and intellectual property.
In , Thomson Reuters moved beyond the realm of financial news with the release of a more affordable option to the Bloomberg Terminal: the Thomson Reuters Eikon, now known as the Refinitiv Eikon. Like the Bloomberg Terminal, Eikon is a software system used to monitor and analyze financial information. Eikon provides financial professionals with access to market data, analytics, and messaging tools. Information can also be exported to Microsoft Excel for continued data analysis.
Furthermore, Eikon can use all tweets on a given subject to identify positive or negative indicators. Unstructured data from social media sources have been vital in identifying trends over the past decade, but few platforms, other than Eikon, have been able to collect and analyze this data.
In , Thomson Reuters and The Blackstone Group, a leading asset management company, created a firm called Refinitiv that was 55% owned by Blackstone. In January , Thomson and Blackstone sold Refinitiv to the London Stock Exchange Group in a deal worth $27 billion.
Refinitiv is a financial information provider serving more than 40, institutions in about countries and has a year agreement to use Reuters data. Refinitiv is also now the entity managing the Refinitiv Eikon.
Eikon and Bloomberg Terminal are the two most used business information platforms in the world. The Bloomberg Terminal has a % market share, while Eikon has a %, according to the latest available data. The remaining market share is primarily comprised of FactSet, S&P Capital IQ, and Morningstar Direct.
Bloomberg Terminal has about , users while Eikon has about ,
For individuals who work at large financial institutions, the cost of either program is high but necessary to compete. However, for non-profit higher education institutions, government agencies, and small businesses, the costs can be staggering. Bloomberg Terminal is the most expensive among financial data providers, at $24, per year, according to the latest detailed analysis of Bloomberg and its rivals by Wall Street Prep. For customers with two or more subscriptions, Bloomberg charges $20, per year. By comparison, a fully loaded version of Eikon costs $22,, and a discounted version costs $3,, according to Wall Street Prep.
Bloomberg Professional Services does not publish a price for a Bloomberg Terminal subscription, and Refinitiv does not publish a price for Eikon.
While Bloomberg Terminal and Thomson Reuters Eikon are by far the two most popular platforms in this space, there are several less expensive substitutes. FactSet, S&P Capital IQ, Morningstar Inc., and YCharts are all viable alternatives. The choice depends on one’s needs and budget.
After Bloomberg and Eikon, FactSet and Capital IQ also are popular financial data platforms for professionals. For smaller more personal use, YCharts offers a lite and professional version. These subscriptions are geared toward individual investors and the YCharts professional service is better suited for small businesses.
(Adds new analyst comment, PPI details, housing starts data, byline, NEW YORK and MILAN datelines, updates prices)
By Gertrude Chavez-Dreyfuss and Stefano Rebaudo
NEW YORK/MILAN, Feb 16 (Reuters) - The U.S. dollar edged higher on Friday after data showed producer prices in the world's largest economy came in higher than expected, affirming expectations the Federal Reserve will hold off the start of its interest rate-cutting cycle to the middle of the year, or even later.
The U.S. currency's gains were higher following the producer price index (PPI) data, but have since come off ahead of a long holiday weekend.
Tuesday's report showed the PPI gained % in January, up from forecasts of a % rise. On a year-on-year basis, the PPI increased %, compared with expectations of a % rise.
The PPI data followed a stronger-than-expected consumer price index (CPI) as well last month, suggesting the Fed would be in no rush to cut rates.
The dollar index, a gauge of the greenback's value against six major currencies, was on track for a fifth straight week of gains. It was last up % at On the week, the index rose %.
"Year to date, the dollar has been stronger. But if you consider the strong jobs, inflation, and GDP (gross domestic product) numbers, you could make the argument that the U.S. dollar should be way higher than it is," said Eugene Epstein, head of structuring for North America at Moneycorp in New Jersey.
"I just see sideways trading or a slow grind higher for the dollar as a more likely scenario," he added.
Fed funds futures have priced in no rate cut in March and a 74% chance of easing at the June meeting, according to LSEG's rate probability app. That was more than 80% on Thursday.
Two weeks ago, markets had expected the first rate cut to happen in May. Futures are also pricing in about three rate cuts of 25 basis points each this year, down from about five cuts two weeks earlier.
Against the yen, the dollar rose % to yen . The currency pair has touched the last few days, putting the market on high alert to possible Japan intervention to weaken the yen.
The Japanese currency, which is highly sensitive to U.S. rates, was down 6% against the dollar this year as investors pare back their expectations of rate cuts from the Fed.
Finance Minister Shunichi Suzuki said that while a weak yen has merits and demerits, he was "more concerned" about the negative aspects of a weak currency.
A separate report showed that U.S. single-family homebuilding dropped in January, likely due to harsh weather, but a rise in permits for future construction suggested a rebound is likely in the coming months.
Single-family housing starts, which account for the bulk of homebuilding, dropped % to a seasonally adjusted annual rate of million units last month.
"With the Fed likely cutting rates by the end of the year and demand resilient, the housing activity should stay supported," Citi's U.S. economics team wrote in a research note.
The U.S. consumer sentiment survey was also released on Friday, but the currency market showed little reaction.
U.S. consumer sentiment was little changed in February while one-year inflation expectations inched up.
The University of Michigan's preliminary reading on the overall index of consumer sentiment came in at this month, compared with in January. Economists polled by Reuters had forecast a preliminary reading of
The survey's reading of one-year inflation expectations edged up to % this month from % in January.
The euro was flat at $ (Reporting by Gertrude Chavez-Dreyfuss in New York and Stefano Rebaudo; Editing by Alison Williams and Jonathan Oatis)
Canadian multinational information conglomerate
This article is about the company. For the charitable organization of the company, see Thomson Reuters Foundation.
Office at Bay Adelaide Centre, Toronto | |
Company type | Public |
---|---|
Traded as | |
Industry | Mass media |
Predecessors | |
Founded | 17April ; 15 years ago() Toronto, Ontario, Canada |
Headquarters | 19 Duncan Street, Toronto, Ontario, Canada |
Area served | Worldwide |
Key people | |
Revenue | US$ billion ()[2] |
Operating income | US$ billion ()[2] |
Net income | US$ billion ()[2] |
Total assets | US$ billion ()[2] |
Total equity | US$ billion ()[2] |
Owner | The Woodbridge Company (%)[3] |
Number of employees | 25, (Dec )[2] |
Divisions | Reuters Openly Context |
Subsidiaries | West (Confirmation, Integration Point, HighQ) |
Website | eunic-brussels.eu |
Thomson Reuters Corporation (ROY-tərz) is a Canadian multinational information conglomerate.[4] The company was founded in Toronto, Ontario, Canada and maintains its headquarters in that city's Bay Adelaide Centre.[5]
Thomson Reuters was created by the Thomson Corporation's purchase of the British company Reuters Group in April [6] It is majority-owned by The Woodbridge Company, a holding company for the Thomson family of Canada.[7]
Main article: Thomson Corporation
The forerunner of the Thomson company was founded in by Roy Thomson in Ontario as the publisher of The Timmins Daily Press.[8] In , Thomson acquired the Scotsman newspaper and moved to Scotland the following year. He consolidated his media position in Scotland in , when he won the franchise for Scottish Television. In , he bought the Kemsley Group, a purchase that eventually gave him control of the Sunday Times. He separately acquired the Times in He moved into the airline business in , when he acquired Britannia Airways, and into oil and gas exploration in , when he participated in a consortium to exploit reserves in the North Sea. Following the death of Thomson, the company withdrew from national newspapers and broadcast media, selling the Times and the Sunday Times to Rupert Murdoch's News International in , and instead moved into publishing, buying Sweet & Maxwell in The company at this time was known as the International Thomson Organization Ltd (ITOL).[9]
In , ITOL merged with Thomson Newspapers, forming the Thomson Corporation. In , the Thomson Corporation acquired West Publishing, a purveyor of legal research and services (including Westlaw).[10]
Main article: Reuters Group
The company was founded in by Paul Julius Reuter in London as a business transmitting stock market quotations.[10] Reuter set up his "Submarine Telegraph" office in October and negotiated a contract with the London Stock Exchange to provide stock prices from the continental exchanges in return for access to London prices, which he then supplied to stockbrokers in Paris.[10] In , Reuters in London was the first organization to report the assassination of Abraham Lincoln.[10] The company was involved in developing the use of radio in [10] It was acquired by the British National & Provincial Press in , and it first listed on the London Stock Exchange in [10] Reuters began to grow rapidly in the s, widening the range of its business products and expanding its global reporting network for media, financial and economic services. Key product launches included Equities (), Dealing (), Business Briefing (), Reuters Television for the financial markets (), Series () and the Reuters Xtra service ().[10]
The Thomson Corporation acquired Reuters Group plc to form Thomson Reuters on 17 April [11] Thomson Reuters operated under a dual-listed company ("DLC") structure and had two parent companies, both of which were publicly listed — Thomson Reuters Corporation and Thomson Reuters plc. In , it unified its dual listed company structure and stopped its listing on the London Stock Exchange and NASDAQ. As of October ,[update] it is listed only as Thomson Reuters Corporation on the New York Stock Exchange and Toronto Stock Exchange (symbol: TRI).[12][13]
Thomson Reuters was ranked first in Interbrand's ranking of Canadian corporate brands.[14]
In February , Thomson Reuters announced it would cut 2, jobs to cut costs in its legal, financial and risk divisions.[15] In October , Thomson Reuters announced it would cut another 3, jobs, mostly in those same three divisions.[16]
The Thomson-Reuters merger transaction was reviewed by the U.S. Department of Justice and by the European Commission. On 19 February , both the Department of Justice and the Commission cleared the transaction subject to minor divestments.[17] The Department of Justice required the parties to sell copies of the data contained in the following products: Thomson's WorldScope, a global fundamentals product; Reuters Estimates, an earnings estimates product; and Reuters Aftermarket (Embargoed) Research Database, an analyst research distribution product. The proposed settlement further requires the licensing of related intellectual property, access to personnel, and transitional support to ensure that the buyer of each set of data can continue to update its database so as to continue to offer users a viable and competitive product.[18] The European Commission imposed similar divestments: according to the commission's press release, "the parties committed to divest the databases containing the content sets of such financial information products, together with relevant assets, personnel and customer base as appropriate to allow purchasers of the databases and assets to quickly establish themselves as a credible competitive force in the marketplace in competition with the merged entity, re-establishing the pre-merger rivalry in the respective fields."[19]
These remedies were viewed as very minor given the scope of the transaction. According to the Financial Times, "the remedy proposed by the competition authorities will affect no more than $25m of the new Thomson Reuters group's $13bn-plus combined revenues."[20]
The transaction was cleared by the Canadian Competition Bureau.[21]
In November , the European Commission opened formal antitrust proceedings[22] against Thomson Reuters concerning a potential infringement of the EC Treaty's rules on abuse of a dominant market position (Article 82). The Commission investigated Thomson Reuters' practices in the area of real-time market datafeeds, and particularly, whether customers or competitors were prevented from translating Reuters Instrument Codes (RICs) to alternative identification codes of other datafeed suppliers (so-called 'mapping') to the detriment of competition. In December , the European Commission adopted a decision that renders legally binding the commitments offered by Thomson Reuters to create a new licence ("ERL") allowing customers, for a monthly fee, to use Reuters Instrument Codes (RICs) in applications for data sourced from Thomson Reuters' real time consolidated datafeed competitors to which they have moved.[23]
Historically, no single individual has been permitted to own more than 15% of Reuters, under the first of the Reuters Principles, which states, "Reuters shall at no time pass into the hands of any one interest, group or faction."[24] However, that restriction was waived for the purchase by Thomson, whose family holding company, the Woodbridge Company currently owns 53% of the enlarged business. Robert Peston, business editor at BBC News, stated that this has worried Reuters journalists, both because they are concerned that Reuters' journalism business will be marginalized by the financial data provision business of the combined company, and because of the threat to Reuters's reputation for unbiased journalism by the appearance of one majority shareholder.
Pehr Gyllenhammar, Chairman of the Reuters Founders Share Company, explained that the Reuters Trust's First Principle had been waived for the Thomson family because of the poor financial circumstances that Reuters had been in, stating, "The future of Reuters takes precedence over the principles. If Reuters were not strong enough to continue on its own, the principles would have no meaning." He stated, not having met David Thomson but having discussed the matter with Geoff Beattie, the president of Woodbridge, that the Thomson family had agreed to vote as directed by the Reuters Founders Share Company on any matter that the trustees might deem to threaten the five principles of the Reuters Trust. Woodbridge will be allowed an exemption from the First Principle as long as it remains controlled by the Thomson family.[25][26][27][28]
The chief executive of the combined company is Steve Hasker, who was the chief executive for the professional division, and the Chairman is David Thomson.[29][30][31]
In , the company was organized around four divisions: Legal, Reuters News Agency, Tax & Accounting, and Government.[32]
Former divisions: Intellectual Property & Science, Financial & Risk, Thomson Healthcare, and Scholarly & Scientific Research.
As of , the Financial & Risk division makes for over half of the company's revenue.[33]
Thomson Reuters competes with Bloomberg L.P., in aggregating financial and legal news.[34]
Thomson Reuters subscriptions compete with open access alternatives, accessible through open data and open source aggregators such as Unpaywall, which can help counter the increase in subscription costs (+% in the – period vs. 58% for the consumer price index).[35]
In , Reuters Group plc acquired Lipper Analytical as a wholly owned subsidiary.[36] Lipper became part of Thomson Reuters in April , following the merger of Thomson Financial and Reuters. (The Lipper Fiduciary Services and Lipper FMI was purchased by Broadridge Financial Solutions in May )[37]
The company has been highly acquisitive, completing over acquisitions between and [33] This includes, in July , Thomson Reuters' acquisition of Streamlogics.[38] Founded in , Streamlogics is a provider of customizable, high volume, real time data mining solutions[buzzword][39] for hundreds of enterprises across several verticals including financial services, technology and health care/life sciences. Streamlogics' webcasting solutions are used for training and certification, marketing and lead generation, and corporate communications.[40] In August of that year, it bought Vhayu Technologies. Vhayu is a provider of tick data services, and Thomson Reuters had been distributing its Velocity product under the Reuters Tick Capture Engine label for the four years prior to the acquisition.[41]
Additionally, on 21 September , Thomson Reuters bought Hugin Group, the European IR and PR distribution group, from NYSE Euronext. Terms have not been disclosed, but it has been reported in Danish newspapers that the price was between €40 million and €42m.[42] It also bought the Abacus software business from Deloitte, a provider of corporate taxation software for the UK, Ireland, the Netherlands, New Zealand, and Hong Kong, as well as Indirect Tax Reporting software for 20 E.U countries. Terms of the transaction were not disclosed.[43]
In October, Thomson Reuters acquired Breaking Views.[44]
In November, The Tax & Accounting business acquired Sabrix, Inc, a global provider of transaction tax management software applications and related services.[45]
Also, in , Thomson Reuters sold the Physician's Desk Reference to Lee Equity Partners.[46]
In January , Thomson Reuters acquired Discovery Logic[47] and subsequently, in February, Aegisoft LLC to improve their electronic trading capabilities by offering direct market access.[48] Also in February, it acquired the legal ranking system Super Lawyers.[49]
In May , it acquired Point Carbon A/S, a Norwegian company that provides news and trading analytics for the energy and environmental markets.[50] Also in May, it acquired the Brazilian legal publisher Revista dos Tribunais.[51]
In June, it acquired Complinet, a compliance software company.[52]
In October of that year, it acquired Serengeti Law, a matter management and ebilling system.[53]
On 22 November , it acquired the legal process outsourcing (LPO) provider Pangea3. Financial Terms of the deal were not disclosed.[54] It also acquired the banking data and analytic provider Highline Financial, and GeneGo, a supplier of systems biology databases, software and services.[55]
On 20 June , Thomson Reuters acquired CorpSmart from Deloitte.[56]
On July 18, it acquired Manatron from Thoma Bravo.[57] In August, Thomson Reuters acquired GFMS.[58]
On December 8, Thomson Reuters acquired Emochila, a website development firm founded by Chad Brubaker and Justin Curzi in the tax and accounting space, in order to further integrate its CS suite of products onto a cloud-based platform.[59]
In January , Thomson Reuters acquired Dr Tax, which, according to its press release, was "Canada's largest independently owned developer of income tax software for accounting firms and consumers."[60] Dr Tax's product line includes DT MAX, a tax compliance software for accounting firms, and its consumer tax preparation software, UFile and ImpôtExpert.[61]
In February, the company acquired RedEgg, a provider of media intelligence solutions[buzzword] for public relations and marketing professionals.[62] On March 22, it acquired BizActions, a digital newsletter and Web marketing providers for accounting firms in North America[63]
On 8 June , Apsmart, a London-based company specializing in design and development of mobile solutions, became the next organization to be acquired.[64]
On 25 June , Reuters obtained Zawya Limited, a regional provider of business intelligence and unique tools for financial professionals in the Middle East and North Africa .[65]
On 10 July , Thomson Reuters acquired FX Alliance Inc, an independent provider of electronic foreign exchange trading services to corporations and asset managers.[66]
In July, it also acquired Dofiscal[67]
On 26 July , Thomson Reuters announced acquisition of MarkMonitor, a San Francisco-based company specializing in internet brand protection software and services.[68]
In , Thomson Reuters sold its Healthcare division to Veritas Capital, who renamed the business Truven Health Analytics.[69]
On 3 January , Thomson announced that it was to acquire Practical Law Company, the London-based provider of practical legal know-how and workflow tools to law firms and corporate law departments. Practical Law Company has more than employees, with principal operations in London and New York, and will be part of the Legal business of Thomson Reuters.[70]
On 16 April , Thomson Reuters acquired Select TaxWorks Assets of RedGear Technologies.[71]
On 6 June , Thomson Reuters acquired Pricing Partners, a provider of OTC Derivatives Pricing Analytics and independent valuation.[72]
On 2 July , Thomson Reuters acquired the foreign exchange options business of Tradeweb.[73]
On 16 August , Thomson Reuters acquired the foreign exchange options risk management technology provider SigmaGenix.[74]
On 18 August , Thomson Reuters acquired a majority stake in Omnesys Technologies[75] and acquired completely the company on 16 September [76]
In August, it also acquired WeComply.[77]
On 10 September , Thomson Reuters acquired the CPE and CPA Division of Bisk Education Inc [78] and Kortes.[79]
On 23 October , Thomson Reuters acquired Entagen, acquiring the Cortellis family of products for drug pipeline, deals, patents, and company content.[80]
On 10 December , Thomson Reuters acquired Avedas and expands its scholarly-research analytics solution.[buzzword][81]
In February , Thomson Reuters acquired Brazil's Domínio Sistemas, a company focused on developing accounting solutions.[buzzword][82]
On 1 July , Thomson Reuters acquired UBS Convertible Indices.[83]
In October , Thomson Reuters sold its PE/VC media assets (including PEHub and Venture Capital Journal) to UCG.[84]
In January , Thomson Reuters acquired K'Origin.[85]
In September , Thomson Reuters acquired Business Integrity Ltd.[86]
In April , Thomson Reuters acquired Wm Reuters Foreign Exchange benchmarks from State Street Corporation.[87]
In July , Thomson Reuters announced it would be selling its Intellectual Property and Science business (including Web of Science, MarkMonitor and EndNote) to private equity funds;[88][33] the newly independent business is Clarivate Analytics.[89]
In January , Thomson Reuters acquired REDI allowing Thomson Reuters to incorporate an advanced, cross-asset execution management system (EMS) into its buy-side trading capabilities and deliver integrated trading workflow solutions[buzzword] to the buy-side community.[90]
In March , Thomson Reuters acquired the Avox and Clarient businesses from DTCC.[91][92][93]
In January , Thomson Reuters announced it was divesting its financial and risk unit to U.S. private equity firm, the Blackstone Group. Thomson Reuters will retain 45% of the divested unit, keep the Reuters brand, and will continue to deliver Reuters news and editorial content to the new divested unit. The joint venture will be branded as Refinitiv. The deal will fund the Reuters business for the next 30 years.[94]David Thomson is said to oppose the deal,[95] and the transaction was approved by the EU commission on 23 July [96] The Lipper Fund Awards, retained from the company's acquisition of Lipper Analytical, also transferred from Reuters to Refinitiv.[97]
In October , Thomson Reuters announced the future acquisition of Integration Point, an international leader in global trade management (GTM) operations.[98]
In November , the company acquired global legal market research analyst firm Acritas.[99][]
In April , Thomson Reuters acquired Gestta Technology Ltda, an accounting automation software, formerly part of the Redspark Group.[]
On 3 January , Thomson Reuters acquired SurePrep, a US-based leader in tax automation software and services. On 11 November , Thomson Reuters announced that it had reached a definitive agreement to acquire SurePrep for $ million in cash.[]
In June , Thomson Reuters agreed to acquire Casetext, a provider of AI technology for legal professionals, in an all-cash deal worth $million.[] The acquisition was completed in August []
Thomson Reuters has sponsored Canadian golf champion Mike Weir and the Williams Grand Prix EngineeringFormula One team. It also sponsors Marketplace, a radio show from American Public Media.
Thomson Reuters, among other media corporations, also donated hundreds of thousands of dollars to the Clinton Foundation.[]
In November , two groups of legal scholars and human rights activists called on Thomson Reuters to cease providing U.S. Immigration and Customs Enforcement and Palantir Technologies access to information through Westlaw, which has enabled the deportation of illegal immigrants. A company representative replied that Thomson Reuters will help the American government and police in active criminal investigations and against threats to national security or public safety.[][] In February , a group of Thomson Reuters shareholders criticized the company's involvement with ICE for immigrant tracking.[]
In , three Reuters investigative journalists, Raphael Satter, Christopher Bing and Jack Stubbs, who were conducting an investigation about a hack-for-hire company based in India, forcefully took a photograph of Kumar, a small scale Indian herbal businessman for an alleged hacker Sumit Gupta of Belltrox.[] Kumar had showed his identity proof that he is not the alleged hacker but one of the three journalists took his photograph and used in their story. The businessman was questioned by the police, suffered reputation damage and business loss, and later relocated to a small town.[] Reuters later admitted to an error of mistaken identity caused by the businessman's sharing of same address with the alleged hacker.[]
Move promotes openness in FX markets with Thomson Reuters FXall and T customers benefiting from integrated and automated price distribution
Frankfurt am Main – June – T, Deutsche Börse Group’s FX unit and Thomson Reuters have expanded their collaboration in the foreign exchange market by enabling pricing of Thomson Reuters FXall customers through T’s rate engine technology. Banks utilizing the T Pricing Engine infrastructure, comprised of the Market Maker Cockpit and Auto Dealing Suite, can now directly price their customers on the FXall multibank platform.
Landesbank Hessen-Thueringen (Helaba) is the first German financial institution to go live with this new connectivity. Through the new interface, Helaba can quote customers on both the T and FXall multi-bank platforms utilizing T’s FX price engine technology.
The two-way interface enables T’s market maker participants to quote client price requests originated from Thomson Reuters multi-bank platform FXall. By utilizing the T Pricing Engine infrastructure, T’s and FXall’s clients can benefit from integrated and automated price distribution.
Carlo Kölzer, T CEO, said: “We are very pleased that Thomson Reuters is supporting the ‘open platform concept’ which increases the efficiency of the global electronic FX market by connecting market leading venues, technologies and global communities of clients regardless of client type, geographic location or choice of execution venue and FX Fintech partner.”
Michael Burckhart, Head of FX Trading, Helaba, said: “We welcome the cooperation between Thomson Reuters FXall and T. With this we can use T’s Pricing Engine infrastructure and have the possibility to reach all our FX clients with consistent pricing while benefiting from operational risk mitigation and consistent integration to our internal risk management infrastructure”.
Neill Penney, Co-Head of Trading at Thomson Reuters added: “Collaboration and openness in the financial markets delivers efficiency and value across the entire market, and this partnership puts that principle into action. The enhanced pricing and workflow benefits FXall liquidity providers using the T price engine technology.”
About T Group
T is an independent and globally-established trading venue. As Deutsche Börse Group’s powerhouse for FX, T provides a web-based trading technology for over-the-counter (OTC) instruments, integration solutions and related services. Since its inception in , the company has developed and maintained a state-of-the-art multi-bank portal for foreign exchange, cash and money market products and FX/interest rate derivatives.
T’s secure global transaction network enables clients to trade with greater transparency and enhanced control at every stage of the trading lifecycle. The company also offers licensing of a hosted white labelled trading technology between a scalable group of price-takers and either proprietary price providers or a rich choice of back-to-back liquidity sources. T’s buy-side clients are national and multinational corporate treasuries, institutional clients (asset managers, hedge funds, commodity trading advisors), broker/dealers and banks. The company is authorized under German law and regulated by the German Federal Financial Supervisory Authority (BaFin).
Headquartered in Frankfurt am Main, Germany, T maintains subsidiaries in New York ( Trading Networks Inc), Singapore (T Asia Pacific Pte. Ltd.), India (ThreeSixty Trading Networks (India) Pvt Ltd) and Dubai ( Trading Networks LLC).
About Thomson Reuters
Thomson Reuters FXall is a dealer-to-client FX marketplace used by over 2, institutional clients and market makers. Thomson Reuters Matching is an anonymous electronic trade matching system for FX used by thousands of market participants in every region of the world to access and trade on deep liquidity in over 80 currency pairs. Collectively, Thomson Reuters FX platforms support an average daily trading volume of over $ billion.
Further information: eunic-brussels.eu
_
Media Contact
Claudia Stirner
Head of Marketing & Communication T Group
[emailprotected]
Tel: +49 69
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Stocks Buzz provides short-form coverage of stocks on the move. Designed to answer the question, *“*Why is my stock moving?", Stocks Buzz runs in parallel with breaking news about companies, including results and corporate actions, and provides metrics on valuations and performance.
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Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Significant Losses In Renovaro To Contact Him Directly To Discuss Their Options
If you suffered significant losses in Renovaro stock or options and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at or (Ext. ). You may also click here for additional information: eunic-brussels.eu.
There is no cost or obligation to you.
New York, New York--(Newsfile Corp. - February 17, ) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Renovaro Biosciences Inc. ("Renovaro" or the "Company") RENB.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
On February 13, , Hindenburg Research published a report alleging that in the months leading up to the vote on Renovaro's merger with GEDi Cube, "Renovaro enlisted stock promoters, including one previously sanctioned by the SEC, to hype up the GEDi deal and pump shares to retail investors." Following this news, the price of the Company's stock dropped.
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Thomson Reuters Corp. engages in the provision of news and information for professional markets. It operates through the following segments: Legal Professionals, Corporates, Tax and Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment provides research and workflow products to law firms and government. The Corporates segment serves corporate customers with full suite of content-enabled technology solutions for in-house legal, tax, regulatory, compliance, and information technology professionals. The Tax and Accounting Professionals segment offers research and workflow products focusing on intuitive tax offerings and automating tax workflows to tax, accounting, and audit professional in accounting firms. The Reuters News segment supplies business, financial, national, and international news to professionals via desktop terminals. The Global Print segment offers legal and tax information primarily in print format to customers around the world. The company was founded in and is headquartered in Toronto, Canada.
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