21 August 2017
visit www.avoka.com

Reuters Instrument Codes up for license

07 May 2003  |  9093 views  |  0 Reuters Sign

Reuters is to license use of Reuters Instrument Codes in an effort to establish a global standard for managing and tracking securities data across the lifecycle of a trade.

The news and information group says the licensing of RICs will enable the front office code to be used all of the way through to the settlement, providing a common way to identify and manage data throughout the entire trade process. The approach should make it easier for financial organisations to cross reference to numerous other different industry codes, such as ISIN, says the vendor.

Kevin Bradshaw, global director enterprise information products, Reuters, says the extension of the RICs code from front office through to settlement, provides "a powerful solution to the industry-wide problems of failed trades and high costs resulting from inconsistent and inaccurate data".

The Reuters Instrument Code is used within Reuters products. It is one of the few established global codes that enable an instrument to be identified at exchange level, thus providing a one to one match for all financial instruments. The license will initially cover the use of the RICs for all global exchange listed equities, as this is the area that financial institutions have highlighted to be the most problematic, says Bradshaw.

The licensing service forms part of Reuters Enterprise Information Products, including the Datascope business, which provides end of day and historical pricing data, cross reference data, terms and conditions, and corporate action information across all global asset classes.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Ryan Beck signs five year contract for Reuters Plus

Ryan Beck signs five year contract for Reuters Plus

01 May 2003  |  3823 views  |  0 comments
LSE partners with Microsoft and Accenture to deliver market data

LSE partners with Microsoft and Accenture to deliver market data

24 April 2003  |  6989 views  |  0 comments
Reuters unveils Multex 360

Reuters unveils Multex 360

23 April 2003  |  6013 views  |  0 comments
Reuters group revenues slide as Instinet posts $34 million loss

Reuters group revenues slide as Instinet posts $34 million loss

22 April 2003  |  4443 views  |  0 comments
Reuters shares bounce on Q1 results

Reuters shares bounce on Q1 results

16 April 2003  |  4367 views  |  0 comments
HSBC selects Reuters to deliver outsourced FX services

HSBC selects Reuters to deliver outsourced FX services

14 April 2003  |  5784 views  |  0 comments
Reuters upgrades Kondor; adds NumeriX analytics

Reuters upgrades Kondor; adds NumeriX analytics

08 April 2003  |  4619 views  |  0 comments
Reuters and IBM in Asia Pacific risk ASP deal

Reuters and IBM in Asia Pacific risk ASP deal

03 April 2003  |  5156 views  |  0 comments
FXall to use Reuters instant messaging

FXall to use Reuters instant messaging

20 March 2003  |  5551 views  |  0 comments
Reuters crashes below 100 pence a share level; knocks Thomson off GKM

Reuters crashes below 100 pence a share level; knocks Thomson off GKM

12 March 2003  |  7214 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.worldpaymentsreport.comvisit www.niceactimize.comvisit www.vasco.com

Who is commenting?

A Finextra member Finextra Member Commented on: Real-time payments in...
A Finextra member Finextra Member Commented on: Barclays uses sensors...

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
11494 views comments | 26 tweets | 23 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
9757 views comments | 22 tweets | 31 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
9575 views 0 | 5 tweets | 1 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
9322 views comments | 19 tweets | 23 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
9236 views comments | 10 tweets | 8 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job