Thomson Reuters has offered concessions in the way it licenses the proprietary Reuters Instrument Codes (RICs) in a bid to settle an EU antitrust investigation.
The EC's market testing has failed to receive any acceptance of a RIC licence in March 2012. The industry in Europe including Switzerland was overhelmingly against it.
Now the EC Commission might fine under their EC antitrust rules TR ( up to a max of 10% on turnover) and or TR offers a free last minute global usage for the TRRIC to the EC Commission.
So the extended RIC licence (ERL) is off the table implementing 10 years and or more licence fee for different business activities of a financial institute. Btw netting of the RIC accross licence items was forbidden.
A multi billion £ ticket for the European financial industry and the consumer.
This ERL would have come on top of terminal fees, data licence fees for RT data. It would have been just around the corner that the back office area hence non real time data would have been brought under the ERL concept for non real time data by means of
TR Business Principles adjustments- including settlement process fees!
Be aware that TRBP are one sided adjustments in favor of TR never the customer! They form part of TRSC. The TRBP are legally not correct and should be abolished immediately.
So one further night mare on the global fight on identification codes cost such as US ISIN has disappeared. And BB has quite cleverly profited on its BBUID initiative to be closer to the consumer.
Lets wait on the EC decision on TR RIC!
Excellent salary with uncapped commissionMilton Keynes
© Finextra Research 2013