Belgium's Dexia Bank, Banca Aletti Italy and Svenska Handelsbanken Capital Markets in Sweden, have been named as the first customers for Reuter's new direct trading tool, Order Management for Exchange Execution.
Reuters says the new sales represent approximately EUR700,000 of new business and areas where it displaced competitors such as Bloomberg.
Order Management for Exchange Execution was developed in partnership with Swedish trading and risk management technology vendor Orc Software and provides users of the Reuters 3000Xtra desktop with direct access to equity exchanges London Stock Exchange, Deutsche Bourse and Euronext.
The tool will also provide trading facilities on all European equity derivatives exchanges as well as to the Nordic exchanges.
Belgian brokerage house Dexia Bank says it will use the product to execute business on the Euronext Liffe Exchange.
"The equities and equity derivatives markets on Euronext represent a growing part of our retail business, and a reliable and efficient way of connecting to the Euronext is key to this success," says Jean-Pierre Vanhopplinus, head of back office securities, secondary markets and fixed income, Dexia Bank.
Stephen Wilson, director, equity alliances, Reuters, says equity traders need three things - fast and reliable price discovery, secure trading access to exchanges and highly functional order management.
"By combining Reuters flagship product, 3000 Xtra with Order Management for Exchange Execution, institutional sell side equity market professionals will have a cost-effective and efficient offering to support their trading activity," adds Wilson.
The system can be used as a stand-alone package, or integrated with internal systems and Reuters applications.
Reuters says it plans to extend the service to include Asian and North American stock exchanges later in the year.