16 Sep 2008
Thomson Reuters Integrates Tradeweb Equity Services Into its Exchange Traded Offerings
London – Thomson Reuters today announced that it has strengthened its exchange-traded offerings by drawing on assets from Tradeweb, a leading over-the-counter, multi-asset class, online marketplace owned by Thomson Reuters and 10 leading dealers. As part of the integration of the former Thomson Financial and Reuters suites of products, the company has added Tradeweb’s AutEx data into its premium desktop products and interconnected Tradeweb Routing Network and Reuters Order Routing. The combination of these world-class offerings provides powerful trading and routing capabilities to the sell- and buy-side communities.
Following today’s announcement, Reuters 3000 Xtra and Reuters Station customers can access the recap screen of AutEx, the world’s premier order indication and advertised trade service. This supports real-time, targeted (and broadcast) messages in single securities and provides financial market professionals access to the largest and broadest pool of global trading liquidity.
AutEx has been an industry leader in liquidity discovery for 40 years. Advertising dealer Indications of interest (“IOIs”) and trade advertisements to the global buyside community on AutEx enables institutions to identify the optimal trading partner. AutEx will continue to be available through Thomson ONE, autex.com and leading order management systems.
The interconnectivity of Tradeweb Routing Network and Reuters Order Routing’s broker-neutral hub-and-spoke networks enables market participants to trade within a significantly expanded community. The joint communities process in excess of 1.5 billion shares per day and connect over 1000 participants worldwide.
Stephen Wilson, Global Head of Exchange Traded Instruments at Thomson Reuters, said, “This is a time of unprecedented change for our customers who are facing increasing regulation, greater automation of trading and fragmenting liquidity. The integration of AutEx into our desktops and the connection of the two order routing networks is an integral part of Thomson Reuters strategy to provide our customers with the content, transaction and analytical capabilities they need.”
Albert Lojko, Managing Director and Head of Equities at Tradeweb, said, “The customers of Tradeweb and Thomson Reuters will be the real winners of this integration, which combines a leading source of block liquidity with the distribution of a world-class news and information community. This move underlines the commitment of AutEx to provide a global source of much-needed transparency at a time of increasing market fragmentation and the proliferation of dark liquidity.”
About Thomson Reuters
Thomson Reuters is the world’s leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, scientific, healthcare and media markets, powered by the world’s most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs more than 50,000 people in 93 countries. Thomson Reuters shares are listed on the New York Stock Exchange (NYSE: TRI); Toronto Stock Exchange (TSX: TRI); London Stock Exchange (LSE: TRIL); and Nasdaq (NASDAQ: TRIN). For more information, go to www.thomsonreuters.com.
About Tradeweb
Tradeweb is a leading over-the-counter, multi-asset class online marketplace, and a pioneer in the development of electronic trading and trade processing. The company provides services in the fixed income, derivatives, and equity markets to clients in more than 50 countries. Since 1998, Tradeweb has operated a global trading network, which harnesses the distribution of 35 major dealers with over 2,000 institutional clients. With its expansion into the equity markets, Tradeweb is leveraging AutEx, the industry leader for 40 years in providing indications of interests, and Tradeweb Routing Network, a global FIX network with more than 7,000 connections to over 750 firms. Tradeweb is owned by Thomson Reuters and 10 leading global dealers. For more information, go to www.tradeweb.com.
Media Contacts
Yvonne Diaz
Public Relations Director
Thomson Reuters
Tel: +44 (0)20 7542.2615
Email
Simon Hylson-Smith
Tradeweb
Tel: +1 201.915.3142
Email