Reuters (LSE: RTR, Nasdaq: RTRSY), the global information company, and Merrill Lynch (NYSE: MER), the global investment bank, today announced the signing of a new three-year global data services agreement.
Merrill Lynch Global Markets and Investment Banking (GMI) already utilizes significant numbers of Reuters 3000 Xtra product and uses Reuters datafeed services to feed its proprietary applications. The new agreement means the two companies will work even closer together, ensuring Merrill Lynch is benefiting from Reuters variety of data services across the enterprise.
This new agreement was reached after Merrill Lynch conducted a firm-wide review of its data vendor suppliers. It complements the agreement reached in 2003 for Reuters to provide its Reuters Market Data System (RMDS) as the central infrastructure to support Merrill Lynch’s Global Distribution Platform (GDP) strategy.
The deal also builds on the recent decision to subscribe to more than 500 positions of Reuters Knowledge for Investment Management for the Merrill Lynch Investment Managers (MLIM) group.
Jon Robson, Global Head Focus Group Accounts at Reuters comments: "This new agreement with Merrill Lynch displays the strength of Reuters ability to partner with our largest clients to support their business needs. We’re able to provide a family of products that deliver content, technology platforms and trader desk-tops. We’re delighted to have cemented our relationship with Merrill Lynch through this agreement."
Roger Anerella, COO Global Cash Equity at Merrill Lynch comments: "Reuters is now viewed as an enterprise partner. We have been a big user of Reuters through our existing agreement, and this new agreement enables us to extend our relationship going forward."