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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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From: TFF11/21/2004 6:19:11 PM
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Reuters to launch desktop trading platform next yr

19.11.2004

LONDON - Global news and information provider Reuters has unveiled plans to enable banks, brokers and fund managers to buy and sell stocks and bonds over its desktop products in the first quarter of next year.

The electronic trading platform is Reuters' first major growth initiative since chief executive Tom Glocer implemented a three-year restructuring plan, known as Fast Forward, in February last year. The plan so far has focused primarily on cutting costs.

The new service is a move by Reuters to compete with its rival Bloomberg in the fixed-income market, where Bloomberg has an established bond trading platform.

"I don't think we've been effective competitors in fixed income for a while and this is the opening shot," said Devin Wenig, Reuters executive director and one of the main architects of the electronic trading initiative.

"The market wants choice in fixed income, and we're going straight for that."

The Reuters service eventually expects to provide real-time executable prices on more than 12,000 fixed-income securities in 21 currencies.

The electronic trading capability will be available on Reuters 3000 Xtra, Reuters Station and Reuters Trader products.

- REUTERS
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