Thomson Reuters has announced that its Reuters Instrument Codes will be available to financial institutions beyond its desktops and feeds. The new offering will allow customers and any other financial market participant to use its instrument codes for trade processing purposes.
Thomson Reuters also announced that BATS Chi-X Europe has signed up for the service. “Cross referencing the BATS Chi-X Europe instrument codes with the Thomson Reuters RIC symbols will enable us to reach new market participants as well as improve efficiency and data transparency by facilitating accurate identification of securities on our platform,” said Paul O’Donnell, chief operating officer, BATS Chi-X Europe. “We welcome this move by Thomson Reuters and are pleased to sign up to this offering.”
“The RIC’s unique characteristics make it a natural choice for the identification of securities in trade processing. By offering the RIC to all market participants Thomson Reuters promotes operational efficiencies and supports competitive advantage as financial market participants can more reliably communicate with each other and capture more order flow,” said Gerry Buggy, global head of Enterprise Content at Thomson Reuters. “As our customers move to meet regulatory demands and reduce costs, we are pleased to take this first step in supporting the financial community’s symbology needs across all parts of the trading life cycle through our evolving symbology services.”
RICs are alphanumerical symbols that are an integral part and the centrepiece of the information service products the company offers, as they enable its customers to identify and retrieve data from its desktops, feeds and other content services. RIC symbols are provided for a broad range of content from Thomson Reuters across equities, bond markets, FX and money markets, commodities and energy, funds, indicators/indices and derivatives.
