Reuters has entered a reciprocal consulting and software licensing agreement with CodeStreet, a New York-based company set up by former employees of the UK-based news and information vendor.
Under the terms of the agreement, Reuters is to provide CodeStreet with the messaging middleware underpinning the CodeStreet ReplayService product suite for recording and replaying market data, JMS and Rendezvous messages, and the software framework behind the firm's Smart multi-asset trading platform. In return, CodeStreet will provide a range of consulting services, products and bespoke software development to Reuters and its customers. Reuters will also be able to market CodeStreet's products.
Howard Pein, CodeStreet chief executive and a former Reuters Consulting exec comments: "CodeStreet represents a new way for Reuters to address the custom tailored software solutions market. Through partnerships with specialist providers such as CodeStreet, who are experts in Reuters software and information products, Reuters can provide additional consulting options to its customers."
CodeStreet's chief operating officer is Jim Perrello, formerly head of Reuters' Liquid Markets initiative and founder of online moneymarket trading system LiquidityLink.
Alexander Hungate, Reuters group chief marketing officer says: "This is another step in the Fast Forward initiatives started last February. By aligning ourselves with a select group of high quality service providers, Reuters will be able to better service our customers."