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Thomson Reuters and Markit expand communications connectivity in financial markets

First Published 24th September 2014

Integration of Markit's directory with Eikon Messenger improves cross-industry collaboration and increases transparency.

London and New York - Thomson Reuters and Markit have announced that the directory for the open messaging network powered by Markit's Collaboration Services has been fully integrated with Eikon Messenger, extending the reach of the industry's first vetted, cross-network directory. Clients can now find contacts from a growing address book of 250,000 individuals.

Instant messaging has become an ingrained part of how the financial industry conducts business. However, the disparate, closed systems typically in use today hamper collaboration and can lead to inefficiencies, compliance risks and increased costs. Today, banks are evaluating how to improve messaging infrastructure, and compliance and security controls for their communications systems.

In Eikon Messenger, Thomson Reuters aims to provide the industry with an open and secure messaging service and a set of tools that can help companies comply with both external regulations and internal policies. Thomson Reuters was a founding member of Markit's Collaboration Services network, the first open messaging network for the financial services industry. The network allows different messaging platforms to connect to each other, removing barriers to communication and helping firms improve efficiencies.

"Instant messaging and other chat tools are embedded in the workflows of financial services professionals because they are simply indispensable," said Paul Rowady, principal and director of data and analytics research, TABB Group. "However, spend on these tools is now under scrutiny by trading and investment firms. Compliance and security are also areas of concern. Innovations like the open network from Markit and Thomson Reuters are solid examples of new tools that aim to deliver better communications and collaboration functionality to the industry at a lower cost."

"Thomson Reuters has always been a proponent of open systems, reflecting the need of the financial industry for greater compliance, interoperability and cost control," said Yvette Jackson, global head of collaboration services at Thomson Reuters. "The integration of the Markit directory into Eikon Messenger is just the latest development in the continuing evolution of our instant messaging service."

"Thomson Reuters has been a key part of the open messaging network initiative from the start," said Brad Levy, global head of Processing at Markit. "Our vision has been to bring best in class assets from multiple vendors together in an open environment, to benefit all parts of the financial industry. Our integrated directory service shows how service providers are working together to create an industry-wide solution."

Thomson Reuters Eikon Messenger is available both inside Thomson Reuters Eikon and as a free of charge, standalone application, it provides its users with access to a community of over 250,000 financial professionals from more than 180 countries. Eikon Messenger includes a suite of compliance enabling tools, available free to all users.

Collaboration Services is an open messaging network launched in October 2013 by Markit in partnership with Thomson Reuters and eight global banks. The network enables financial professionals to send instant messages across disparate messaging platforms.

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