Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, and BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets, today announced a strategic agreement to expand customer access to over-the-counter (OTC) pricing data.
BGC's OTC pricing data is now available to customers of Thomson Reuters Eikon, its flagship financial markets desktop, Thomson Reuters Elektron Real Time, Tick History and DataScope Select, as well as BGC's trading system. The agreement incorporates a consolidated licensing solution aligned to individual clients' business models.
As regulation in the OTC markets continues to evolve, financial markets professionals are increasingly looking for more accurate and timely OTC pricing data. Gaining access to real-time OTC pricing data alongside news and analytics tools provides traders with the information they need to better inform their trading strategies.
Thomson Reuters Eikon and Elektron customers will benefit from access to the broad range of BGC Partners' OTC pricing data. This dataset covers a large number of asset classes and instruments, including:
• global fixed income
• global interest rate swaps and options, covering developed and emerging markets and global credit derivative markets
• global foreign exchange, including non-deliverable forwards (NDFs) and foreign exchange options (FXOs)
Thomson Reuters Eikon and Elektron customers also benefit from access to BGC's Specialist Data Services.
"This agreement with BGC further demonstrates Thomson Reuters commitment to working with partners and clients to simplify access and distribution of key market data sets within our customers' workflow," said Debra Walton, chief content officer, Financial & Risk, Thomson Reuters. "It demonstrates our ongoing focus on the new regulatory and electronic transaction landscape in the OTC space, ensuring that we provide our customers with the tools and data they need to make more informed trading decisions."
"We are delighted to announce this partnership with Thomson Reuters which significantly expands the distribution of BGC's global market data capabilities via Thomson Reuters Eikon and Elektron. In additiion, it offers clients extensive flexibility and empowers their business operations with OTC data from BGC's global electronic and voice-hybrid broking operations," said Mark Benfield, executive managing director & global head of BGC Partners' Market Data Group. "We are also pleased that clients have quickly adopted this new data access and distribution model, which ultimately simplifies direct-to-source and client-driven data licensing options"
BGC and Thomson Reuters clients stand to benefit in a myriad of new ways from the partnership, which Brian Buzzelli, Executive Director and Head of Enterprise Data Management at Nomura calls "forward-looking" and "client-focused."