Thomson Reuters Deepens Redi-Eikon Integration

In June this year, Thomson Reuters initiated the integration process of the Redi buy-side execution management system (EMS) that it acquired in January. The first stage was to equip Redi users with the Eikon Messenger, allowing asset managers to join a community of more than 30,000 sell-side participants. 

From that point onwards, the data vendor continued the integration process by adding more functionality and content to the Redi EMS. The conclusion of this second stage is going to give Redi users not only the benefit of Eikon messenger, but also a number of other pre-trade applications, analysis and content relevant to shaping trading decisions. 

Michael Chin, global head of trading at Thomson Reuters, says that the buy side can access content with indications of interest and advertised trades via the firm’s large broker community. “With this information, we help them when and where to direct their orders so that they achieve best execution,” he says. 

Chin adds that there are two significant milestones with the completion of this stage. “First, we have migrated all the real-time and referential data that Redi users consume to the EMS,” he says. “Users who trade on Redi and use Eikon are using the same real-time and referential data, which gives them consistency across the pre-trade end and the trading components of their workflow.” 

Second, the integration allows for data entitlements and permissioning to take place on both platforms. By consuming data from the same source, traders get the benefit of paying exchange feeds for market data once, rather than multiple times. “This has a significant impact on lowering their cost of ownership,” Chin says. 

As the integration process unfolds, Thomson Reuters is planning to add more functionality itself, as well as partner with third-party vendors in the future. 

“There’s just more and more of these capabilities that will be delivered to the traders so that they have tools and fill any of the gaps that they have in their workflow,” Chin says. “For example, we continue to grow our partnerships with order management systems and portfolio management systems; as more and more of these platforms become integrated into our open platform, the clients benefit from having this capability.”