Thomson Reuters today announced a powerful enhancement to its market data system to include electronic transaction capabilities.
Working together with Smart Trade Technologies and embedding their real-time, transactional, smartTrade liquidity management system technology, in combination with new peer-to-peer messaging, Thomson Reuters Market Data System (RMDS) will provide clients with smart order routing and liquidity management capabilities as an appliance within their platform.
The peer-to-peer messaging capabilities in RMDS in conjunction with smartTrade Transactional Platform (STTP) will provide clients with the vital elements necessary to create a global transaction fabric. Banks, brokers, exchanges and asset managers using RMDS will benefit from efficient and optimized liquidity management for best execution and smart order routing for multiple and cross asset classes. The peering of regional and global trading operations delivers tighter control of flow for risk management.
Multi-threading enhancements to the RMDS platform deliver massive scale and performance which is integral to Thomson Reuters next generation data distribution and execution fabric. Thomson Reuters comprehensive data coverage and suite of direct data feeds, delivering full order book content, provides easier integration and market coverage for pre-trade liquidity discovery in support of electronic trading applications. The benefits include improved content delivery and enabling distribution of all executions level messages from internal activity or any other source.
Customers will be able to achieve quick and cost effective time to market with these new capabilities to connect to a universe of transactional services. These include Thomson Reuters Order Routing for Equities, Reuters Trading for Exchanges (RTEx) and Reuters Dealing Matching, providing customers with immediate access to some of the world's largest liquidity pools.
Jon Robson, President, Enterprise, Thomson Reuters, said: "The increased focus on electronic trading, coupled with the rise in transaction volumes and complexity of financial instruments, has intensified the pressure on our clients to manage order-routing and internal matching across asset classes. Our transaction-enabled platform will allow financial institutions to efficiently transform their market data infrastructure into an intelligent trading network, linking their key business centers to other financial institutions and clients sharing similar technology."
Harry Gozlan, founder and CEO at smartTrade, said: "Leveraging the power of the Thomson Reuters global market data distribution community is a natural next step. STTP has already been integrated into RMDS and is deployed successfully by several of our clients. By strategically integrating STTP directly into RMDS we believe, Thomson Reuters is offering the fastest, most fully developed liquidity management platform in the market today."
"As trading increasingly becomes electronic, integrating market data and trading platforms becomes critical," says Larry Tabb, founder and CEO of TABB Group, the capital markets research, strategic advisory and consulting firm. According to Tabb, "when you're faced with an increasingly greater number of products, there's less time to think, less time to react and more trading opportunities that may never be realized unless your firm's trading, pricing and matching technologies are fully optimized against a low-latency market-data infrastructure."