Reuters is launching a new electronic trading capability for professionals dealing in exchange traded markets.
Reuters Trading for Exchanges will, for the first time, allow buy-side users to discover the price of an instrument, select from a range of brokers with which to trade and execute a trade, all from a single screen. Sell-side brokers will benefit from access to Reuters global community of desktop users, and the opportunity to target trading strategies at the buy-side.
Deutsche Bank, Barclays Capital and FIMAT International Banque S.A. are the first to sign up to offer trade execution and clearing services, with more brokers, including ABN Amro Futures, committed to joining during 2006.
'The combination of Deutsche Bank's extensive Exchange Connectivity and the strength of Reuters global distribution capabilities is a very powerful value proposition,' says Mario Muth, Global Head of E-Trading for listed derivatives at Deutsche Bank. 'This partnership allows a broader trading community to access exchange traded instruments and will help to increase the existing liquidity for all market participants."
The launch of Reuters Trading for Exchanges completes coverage of all major asset classes available for trading via Reuters desktop products. It is part of Reuters Core Plus growth strategy and builds on the growing buy- and sell-side base Reuters has built through its other trading services, Reuters Trading for Fixed Income and Reuters Trading for Foreign Exchange.
'Barclays Capital is pleased to extend its market-leading futures liquidity to Reuters Trading for Exchanges,' says Lawrence Peirson, Director of European Futures at Barclays Capital. 'In addition to our BARX application, clients will now be able to access our connectivity to over twenty global futures and options exchanges via Reuters expansive global network.'
Initially, Reuters Trading for Exchanges will be available via Reuters 3000 Xtra and Reuters Station, which combined have around 120,000 users worldwide, but will be extended to other Reuters desktop products - a potential community of over 300,000 users.
'Reuters Trading for Exchanges opens up an important new distribution channel for our global order routing product,' says Anna Pesman, Director of E-Trading Europe at FIMAT International Banque SA. 'We look forward to working with Reuters to facilitate access to trading on over sixty exchanges to both existing and new customers.'
Through Reuters Trading for Exchanges, users will be able to enter an order for any exchange-traded instrument supported by participating brokers. They will also have access to other services including individual trading strategies and algorithmic trading engines offered by execution and clearing brokers. Orders will be transmitted to participating brokers using industry standard FIX messaging.
'The growth of trading in exchange listed instruments has been exceptional,' says Mark Redwood, Managing Director of Reuters Sales & Trading Division. 'Last month CME, the largest Futures Exchange in the US, announced a fifth straight year of record annual traded volume. Reuters is the first company to offer a broker-neutral global trading capability in exchange traded instruments and its addition completes coverage of major asset classes available for trading through the Reuters desktop.'
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