Reuters today announced it will distribute detailed trade ideas from sell-side brokers to buy-side customers via the Reuters 3000 Xtra product.
Reuters is the first vendor to use the Trade Idea Monitor system from youDevise Limited, a provider of on-demand technology applications for financial markets, to enable brokers to send equity trade ideas simultaneously to Reuters users globally. The addition of trade ideas content reinforces Reuters commitment to delivering world class content and analytics as well as price discovery and execution capabilities all from a single screen.
Users of the trade ideas functionality in Reuters 3000 Xtra will be able to exploit Reuters instant messaging service (Reuters Messaging), allowing the buy- and sell-side to instantly collaborate about trading ideas, and get related stock price information, news, data and analytics. Buy-side customers in turn will be able to trade with their broker of choice on the Reuters order routing network, entering orders via Reuters Institutional Order Entry or Reuters Trading for Exchanges applications from within the 3000 Xtra terminal. Control features enable buy-side customers to select which sell-side firms can send them ideas and what kinds of ideas can be sent.
The Trade Idea Monitor from youDevise Limited is a new high-speed communication system that allows the buy-side to view, filter, rank and track ideas from all their brokers on a single-screen, as well as enabling sell-side brokers to send equity trading ideas to customers. It converts the complex process of authoring, sending, receiving and tracking a trade idea into a streamlined, automated process. This process is further enhanced with the integration into Reuters 3000 Xtra. Prior to the Trade Idea Monitor, sell-side firms communicated their ideas via telephone, email or by keying them into multiple client systems. Buy-side customers tracked ideas using paper-based methods, Excel spreadsheets or custom systems.
Steve Wilson, Global Head of Exchange Traded Instruments at Reuters, commented, "The addition of the Trade Idea Monitor system to Reuters 3000 Xtra demonstrates Reuters commitment to providing high value research, analysis and trading capabilities through a single screen. It also illustrates the importance of Reuters Messaging on Reuters desktop products, encouraging dialogue between our customers looking to make informed and timely investment decisions and those brokers channelling equity trading ideas through Reuters 3000 Xtra."
Colin Berthoud, Director of youDevise, commented, "The resultant combination of Trade Idea Monitor and Reuters adds measurable value to the brokerage-research process used in making and executing investment decisions, all of which takes on added significance in light of new and proposed regulatory guidelines in the US and UK for increased documentation and transparency of execution, research and other soft dollar services paid for with commission charges."