Thomson Reuters (NYSE:TRI) has expanded its Eikon platform to include a more comprehensive commodities focus, whereby it will focus on supply chain data to help better pinpoint financial markets behavior, according to a Thomson Reuters statement.
Last month, Thomson Reuters revamped its existing Eikon dashboard to help cater towards buy-side equities traders. Per the upgrade, the new face-lift encapsulated the needs of equities traders and tapped the Buy-Side Optimized Workflow (BOW), which integrated a number of functions and Eikon capabilities into a unified interface that will aim to help buy-side traders facilitate trades in the equities market.
The Eikon solution is one of Thomson Reuters’ flagship products that helps aggregate and process real-time and historical data, which collectively enable financial markets transactions and connectivity with the financial markets community.
Commodities in Focus
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Despite the recent considerations made to the space of equities, the Eikon solution is now gearing up for a broader commodities focus with its Commodity Trade Flows. The new improvements will aim to provide analysis of the global movement and delivery of cargoes, thereby giving commodity analysts a more insightful look into the supply and demand dynamics of key commodities and their consequent price movements.
Presently, commodities supply chain data is widely available from a variety of sources that presents logistical difficulties in navigating through myriad data points to obtain a complete picture of the flow of commodities along the physical supply chain.
Commodity Trade Flows was launched on Eikon last year, having originally focused on regional flows for crude oil and agricultural commodities. However, Thomson Reuters will be extending this focus to include additional commodities such as liquid petroleum gas, iron ore, and coal in the near future.
According to Shaun Sibley, Managing Director, Commodities at Thomson Reuters, in a recent statement on the expansion, “Commodity Trade Flows in Eikon combines raw data with Thomson Reuters algorithms and specialist insight to help our customers quickly see the dynamics of the global commodities supply chain and gauge the likely impact on supply and demand and prices in the market.”
“We are committed to continually expanding the scope of this analysis and providing commodities markets professionals with the real-time actionable insight they need to make more efficient and better-informed trading decisions,” he added.