Reuters reports Fortis desktop deal; teams with Mastercard for US retail sales data

Source: Reuters

Reuters (LSE: RTR; NASDAQ: RTRSY) today announced it has signed a global enterprise-wide agreement with Fortis to supply premium desktops, latest transaction systems, content and real-time pricing.

The agreement is the first global deal for the latest generation Reuters 3000 Xtra (version 5.0) allowing Fortis to deploy a total 750 positions of the flagship desktop of which 450 positions will replace the Telerate desktop, Active8.

Fortis Merchant Banking will now use the Reuters Market Data System (RMDS) platform in Belgium, the Netherlands and Luxembourg, replacing the Telerate Trading Room System (TRS). The bank will extend the use of RMDS to offices globally making this the largest migration yet from Telerate systems and products onto their Reuters equivalent.

Christopher Hagman, Managing Director, Reuters Global Sales and Service Operations, said: "We are delighted that Fortis has decided to use Reuters products right across its enterprise. This deal embeds Reuters content, data, and real-time pricing into Fortis backed by our RMDS platform. It cements an already established relationship with Fortis adding in, for the first time, access to our transaction products."

Antoine Meyers, Head of Project Management, Process & Support, Fortis, said: "We are pleased to be using the latest generation Reuters 3000 Xtra at Fortis backed by the benefits of the Reuters Market Data System. The scalability and openness of RMDS are vital requirements for Fortis to cope with aggressive business growth targets in all asset classes."

Separately, Reuters today announced an agreement with MasterCard Advisors LLC, the global professional services organization of MasterCard International, to provide a U.S. retail economic service exclusively to Reuters clients. The service, known as SpendingPulse, provides granular measures of the U.S. retail economy, both nationally and regionally, with a degree of speed and a level of detail surpassing spending data estimates from traditional sources.

Using estimates of retail payments including cash and check volumes together with adjusted spending information based on aggregated sales activity through the MasterCard network, MasterCard is able to provide an accurate snapshot of U.S. economic retail sales performance and trends.

Since 2004, SpendingPulse reports have been available through a subscription service. Reuters will now provide exclusive access to SpendingPulse reports through Reuters 3000 Xtra, Reuters Station, and Reuters Knowledge screens. Twice a month, customers will receive reports which include information such as:

  • National and regional retail sales performance each month, before comparable government estimates are released
  • Industry sector data such as sales of electronics, furniture, restaurants, retail apparel, transportation and others
  • Sales and distribution channel breakdowns such as retail sales online

Julie Holland, Global Head of Research and Asset Management at Reuters, comments: "This deal illustrates our growth strategy of focusing on high value content to provide enhanced market insights in order to supplement the news, company information, research and analysis that we currently provide.

We are delighted that the SpendingPulse data will now be available exclusively to our customers, further enabling them to make timely investment decisions."

Jim Thomas, Global Practice Leader, MasterCard Advisors, said: "MasterCard Advisors has the ability to access and analyze information in a way that gauges the true economic landscape. We are excited that we can now provide customers with our U.S. economic data through Reuters world-class distribution network.

For years, professionals have relied on U.S. retail spending data that has been subject to restatements and recommendations made before final economic data became available. Now timely SpendingPulse information will be readily available through Reuters extensive global distribution network, providing accurate retail spending reports for banking, economic, investment, retail and other industry professionals alike."

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