Global spending on financial market data, analysis and news topped $28 billion in 2017, with Bloomberg and Thomson Reuters both losing market share to smaller, cheaper rivals.
Thomson Reuters has signed a definitive agreement to sell a majority 55% stake in its financial and risk division to private equity funds managed by Blackstone.
Thomson Reuters is in advanced talks with US private equity outfit Blackstone over the acquisition of a majority stake in its financial and risk business.
Bloomberg is to provide forex traders with pricing on alternative virtual currencies, including Ether, Ripple's XRP and litecoin, alongside bitcoin charts as speculative investors pile into crypto-markets.
A year on from its launch, Thomson Reuters is doubling down on its Toronto technology centre, committing another US$100 million to the project, which will eventually be home to 1500 staffers working on areas such as cloud computing, big data and AI.
California-based InvestCloud is opening a fintech incubator and accelerator in London, inviting firms to take advantage of its platform in developing digital wealth management tools.
While Bloomberg continued to command the lion's share of financial market spending on data, analysis and news in 2016, the firm saw its terminal user base shrink for only the second time in its 36-year history.
Some of Wall Street's biggest firms have participated in a $15 million financing round for capital markets software house OpenFin.