Thomson Reuters has added a new futures and options utility that caters directly to commodities and energy traders. The new application helps users execute futures and options orders via Thomson Reuters Eikon, helping mitigate market data fees across multiple platforms, according to a company statement.
The utility helps erode one of the most burdensome elements of trading, i.e. market data fees and functionality sacrifices incurred through the deployment of multiple platforms or services. Thomson Reuters’ new service will be provided through City Execution, a widely used third party app engineered by OptionsCity Software.
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.
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Presently, City Execution is already utilized by several global clearing firms and per the new offering is assimilated into the Thomson Reuters Eikon platform. The development is important for traders as it will help individuals garner access to comprehensive spread data, futures and options – additionally, users can execute trades simultaneously while accessing all other news, data and analytical tools available on Thomson Reuters Eikon platform.
According to Leigh Henson, Global Head of Energy Markets at Thomson Reuters, in a statement on the new application: “The addition of City Execution onto Thomson Reuters Eikon exemplifies the benefits of an open platform. Through collaboration with innovative companies such as OptionsCity Software, we are providing energy and commodities traders with a powerful, single-point solution that may reduce costs and improve both workflow and functionality.”
“With our cloud-based suite of products and APIs, OptionsCity can make it faster and less expensive for companies to offer innovative new products and tools. City Execution builds on our leadership in the options and futures markets, and we look forward to working with Thomson Reuters Eikon clients to assist in simultaneously reducing their costs and improving their workflow,” noted Hazem Dawani, CEO of OptionsCity Software, in an accompanying statement.