Reuters (LSE: RTR; NASDAQ: RTRSY) today an announced an enhancement to Reuters DataScope Select which will see its corporate actions data updated hourly, rather than once a day.
Users will be able to monitor portfolios more actively by choosing how often they receive updates and paying according to the quantity of data they use.
The move follows clients' request for reference data and pricing information throughout the trading day in response to the increased complexity of trades and rising volumes driven by market instability. Organizations using algorithmic trading have been particularly keen to see more timely updates so that their trading models can react instantly.
Reuters clients will now be able to monitor corporate actions data on an hourly basis, enabling them to keep up to date with information drawn from over 50,000 companies in over 70 countries. They will be able to select only the data they require, which includes dividends, initial public offerings (IPO's) and mergers and acquisitions (M&A) information, and pay only for the data they consume.
All Reuters corporate actions data is collected, cleansed and checked in local data centres on the day of announcement to the market.
Tim Rice, Reuters Global Head of Fund Administration said: "Recent market conditions have meant our clients need greater visibility over what is happening in their portfolios than ever. Hourly updates on what companies are doing will give them the valuable information they need - when they need it. Reuters is committed to meeting the demand for accurate and cleansed data across organizations."