Thomson Reuters (NYSE:TRI) has launched a new strategic partnership with Symphony Communication Services, a cloud-based communication service platform, looking to improve their joint information sharing capabilities across the financial services industry. The partnership will effectively see the integration of each other’s information services suite, including both Thomson Reuters’ Eikon module and Symphony’s Workflow platform.
The goal of the accord is a push towards an integrated workflow solution, which would create one of the most comprehensive information sharing solutions in the industry. The Eikon solution is one of Thomson Reuters’ flagship products, helping aggregate and process real-time and historical data, which collectively enable transactions and connectivity within the financial markets community. Symphony’s Workflow platform will also be providing significant news and data contributions, helping market participants gain improved access to valuable market information.
Improved Access to Charts and News
More specifically, the integration planned for later this year, with the two providers already exploring sharing capabilities between the two solutions. Users who have access to both Thomson Reuters’ Eikon and Symphony’s Workflow will be able to share Eikon content directly through the Symphony messaging and collaboration platform. This will include the ability to share live data, news, and charts, part of a combined effort to foster dynamic, real-time collaboration across financial markets.
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The Eikon solution has already been adopted across 180 different countries, making it one of the most widely used platforms in the market. Notably, the integration will leverage both Eikon and Symphony open APIs. This development follows on the heels of Eikon’s recent Side by Side Integration API that it pursued in recent months. For its part, the new partnership is the latest step by Symphony to bolster its own market penetration, having just secured $63.0 million from investors last month.
Debra Walton, Global Managing Director of Customer Propositions at Thomson Reuters, explained: “Thomson Reuters partnership with Symphony is another important step towards breaking down barriers to efficiency in financial markets. Symphony joins a growing community of partners who, together with Thomson Reuters, are bringing innovation to the financial community via our open Eikon platform.”
“While Eikon users can already share Eikon content with counterparts via our strategic open Eikon Messenger platform, this partnership gives our customers the choice to extend these collaboration capabilities to the Symphony community. This is about streamlining desktop workflow for our customers by providing access to a powerful and integrated financial technology ecosystem,” Walton added.
“We are thrilled to partner with Thomson Reuters as a highly respected market leader within the financial industry. This partnership will provide the Symphony Community a comprehensive and integrated collaboration and workflow solution. Customers will be able to execute entire workflows within Symphony through the seamless integration of powerful communication and collaboration capabilities with information-rich content and business critical applications,” noted David Gurlé, founder and CEO of Symphony.