Thomson Reuters has unveiled a new data distribution network and hosting environment Elektron to enable financial firms to get access and share information.
Hedge funds, asset managers, banks, brokerages, exchanges and other participants will for the first time be able to connect to the financial community and securely reach trading partners over the network.
Thomson Reuters Elektron enables firms to trade faster, using the complete coverage of real time financial information available, connect to more markets and interact freely across a global, resilient and secure cloud. Firms of all sizes will benefit from lower operational costs and reduced time to market, plus the opportunity for the open exchange of data, transactions and new business opportunities.
The fabric includes strategically located proximity and co-location hosting centers, initially in New York, Chicago, London, Frankfurt, Tokyo and Singapore. Later this year additional centers will open in Hong Kong, India and Brazil.
Using this open and neutral network, clients, exchanges, brokers and other liquidity providers will be able to publish messages and content directly to their discrete counterparties and subscribe to service providers’ analytics, algorithms, risk models, as well as post trade facilities and reference data resources.
Elektron is fully compatible with Thomson Reuters existing middleware, metadata and commercial model. Third parties can move all the applications they have built on Thomson Reuters market data system seamlessly to Elektron.
Jon Robson, president, enterprise at Thomson Reuters, said: “This is a time of extraordinary innovation for Thomson Reuters, our customers and our partners, as together we respond to and shape a rapidly evolving financial marketplace. Elektron is designed to enable this innovation. It marks a step-change in empowering customers, enabling them to innovate and connect to the markets and to each other across a neutral, global and content rich infrastructure. Firms of all sizes will be able to connect via Elektron, benefiting from greater speed, lower operating costs and flexibility that will enable the markets to work and evolve freely.”