Fintech Reviews gives you the latest on players in the fintech industry as well as their history and context. Any company that uses new technology to create possibilities in the financial worlds changes the rules of the game for everyone on some level. It’s important for everyone to stay ahead of developments so they can take full advantage of new opportunities that open up in the face of change.
Here, we look at mass media and information firm, Thomson Reuters. Information is a marketable asset like any other in the world of finance. A company that filters events for consumption can strongly influence the way that those events are seen by the wider world.
Reuters was formed in 1851 and over the next 150 years showed itself to be at the cutting edge of news, technological development and media expansion. Thomson similarly took advantage of many opportunities after its inception in 1934. From newspapers to airways, they proved to be masters of acquisition, which eventually led them to take over Reuters in 2008.
Thomson Reuters have many products and services including financial analysis tools, collaboration software and data management. Within their headquarters, are five major business units: financial & risk, global growth & operations, legal, Reuters, and tax & accounting.
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One of the key services provided by Thomson Reuters is regulatory intelligence. They help provide a clear way through the maze of global financial regulation.
Ensuring compliance is vital to any financial company. In 2018 a new wave of regulation will come into force after the passage of Markets in Financial Instruments Directive II (MiFID II) legislation. Thomson Reuters have teamed up with Tradeweb to ensure their customers are up-to-date and ready to face these challenges.
Deb Walton of Thomson Reuters put it this way: “MiFID II is an enormous implementation effort for our customers and we fully appreciate the pressure they are under to achieve compliance by the end of the year.” She expressed confidence that the collaboration would reach the required standards through the merging of software and information from two high-end companies. The tools they are constructing are built “by the industry, for the industry”, which can only inspire confidence in their market.