Reuters launches equity trading network in South Asia

Source: Reuters

Global information company Reuters (LSE: RTR) today announced the launch of Reuters Order Routing for Equities (RORE) to support South Asia's trading and investment community at a one week event to be held on 7-10 December, 2004 in Bombay.

Financial professionals from the equities market who use RORE will be connected a global trading community of over 500 institutions routing to 200 brokers and execution venues worldwide, including already a growing number who have already joined the community in Japan, North Asia, Asean and the Pacific since the service extended to those Asian regions this year.

Reuters Order Routing will now allow users in South Asia to join this community, trading electronically with a range of brokers, exchanges, and crossing networks. Since the network is linked to virtually all major firms, users can now have widespread connectivity between institutions and brokers. Clients can easily access any existing broker on the network from their Reuters services such as the 3000 Xtra premium desktop. With each order, a single click allows for selection of a broker. Once sent, orders are quickly delivered to the broker of choice.

RORE will meet India's increasing need for fast and secure trading with a solution that can face the challenges of fragmenting liquidity and order flow, regulatory change and cost efficiency. The Reuters solution offers benefits to the trading community of reduced telecommunication, market data, software, and hardware costs.

Susanna Thornton, Head of Institutional Equities, Reuters Asia said, "RORE helps users keep on top of orders through routing, analysis and integration to in-house systems, and completes Reuters leading position as an electronic information provider for the trading community. Besides supplying the best real-time news, data and analytics, Reuters can now provide to users in India connectivity for order flow, increasing efficiency on both buy- and sell-side."

Venkat Ramani, Managing Director, Reuters South Asia said, "The launch of RORE in India is perfectly timed following the current positive outlook for the Indian stock market and the surge in the FII (Foreign Institutional Investors) interest. We are confident that this order routing system will be the most efficient and convenient platform for both domestic and foreign professional players to tap the FII investments."

Global Institutions and Broker/Dealers rely on Reuters Order Routing to successfully execute trades. Brokerage firms, banks, prime brokers, custodians are all looking to reduce their cost of trading with their counterparties. In addition to cost savings and efficiencies, Reuters provides neutral and reliable real-time information and data fundamental for decision makers to stay informed throughout the order process.

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