Thomson Reuters joins R3 blockchain consortium

Thomson Reuters joins R3 blockchain consortium

The bank-backed R3 blockchain consortium has expanded its partnership network to the market data business, recruiting Thomson Reuters as a new member.

Mark Rodrigues, MD, strategic customers and solutions, Thomson Reuters, says the firm has been collaborating with customers on blockchain and distributed ledger initiatives and proof-of-concept projects for some time.

“The opportunities afforded by this emerging technology are enormously exciting for us and for our customers," he says. "Our goal with R3 is to collaborate together with the consortium and our customers in these key industry discussions as we shape the future of financial transactions.”

R3, which counts over 40 of the world's largest financial institutions among its membership, recently unveiled Corda, its shared ledger platform specifically designed to record, manage and synchronise financial agreements between regulated financial institutions.

R3 CEO David Rutter described the addition of Thomson Reuters as a major milestone for the initiative.

“Distributed and shared ledger-based solutions hold the potential to transform the technology used by financial market participants to execute trades and access market data," he says. "Thomson Reuters’ insight and expertise in this field will be an invaluable asset in our collaborative lab environment.”

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