Thomson Reuters and Redkite Financial Markets, a real-time trade surveillance solution provider, announced a global arrangement to provide all market participants with access to relevant pre and post-trade information to enable appropriate monitoring and risk management controls. Customers of Thomson Reuters will be able to access the Redkite trade surveillance solution as a managed service within the Elektron high performance real-time network and hosting environment. The Redkite solution Redeye, will also be available as a deployed software implementation within a firms own enterprise environment.
Global sell side and buy side firms face continued regulatory pressure, which is driving the need for capable risk management, compliance and surveillance solutions. New regulatory proposals are being drafted at record pace. These include from Europe, ESMA and the extensions to the Market Abuse Directive; in the US, from the SEC and its investigations into the Flash Crash and the Dodd-Frank bill; and worldwide, from sources such as the August 2010 IOSCO report.
These new rules are driving markets to provide adequate solutions for trade monitoring. As the industrys first trade surveillance solution available through Elektron, users of Redeye will have access to a fully managed, integrated solution powered by Thomson Reuters high quality real-time pricing, news and tick history data. Financial firms can also take advantage of Elektron Hosting to co-locate their trading applications and market connectivity in a fully managed, low latency environment. This will enable financial institutions to rapidly integrate, test and use new surveillance strategies according to changing market requirements.
Mike Powell, Global Head of Enterprise Real Time Solutions, Thomson Reuters, said: Globally, we are seeing increased demand for improved surveillance products and processes in the face of imminent market structure changes. The combination of Thomson Reuters Elektron and Redeye will provide a high performance solution to support customers trading workflow and better enable them to meet new regulatory requirements. We welcome the addition of Redkite to the Elektron community, a move that underlines our commitment to deliver best in class solutions to help customers respond to a dynamically evolving marketplace.
Justin Amos, Co-Founder & CEO, Redkite Financial Markets, comments: Working with Thomson Reuters will ensure that Redeye users will have access to the most comprehensive global cross asset content from the leading market data and infrastructure provider, with comprehensive, dedicated hosting and application support afforded by Elektron’s global footprint. With demand for improved market surveillance, compliance and regulatory accuracy continuing to rise across the world, we are confident that the combination of Redeyes superior technology, on Elektron, backed by reliable and experienced implementation and support teams, will help market participants rise to the challenges ahead.
D.C.