Note from the Publisher: No, these two financial behemoths have NOT joined forces to become a single entity named after an aging boy band (sorry Justin Timberlake, but you’re 35 now!!) However, they have agreed to sync their instant messaging systems, and it will effect over 300,000 market participants when it rolls out in Q3/2016.
London/Chicago, 13 July 2016 – Thomson Reuters and CME Group today announced they have reached an agreement to implement connectivity between their instant messaging networks, Thomson Reuters Eikon Messenger and CME Pivot Instant Messaging, to support open and compliant cross-industry communication for financial and commodities markets. This combined service will be available late Q3 2016.
The agreement between Thomson Reuters and CME Group will allow over 300,000 current market participants using the respective messenger services to communicate seamlessly across platforms. Thomson Reuters and CME Group have seen a surge in new instant messaging account registrations in June, coinciding with the announcement that in August 2016, Yahoo plans to discontinue support for legacy versions of its instant messaging service, as well as the API used to connect its instant messaging service with other networks.
“Instant messaging platforms have become a popular tool for communication in financial markets. However, many of these platforms operate in silos and increased regulatory scrutiny has forced market participants to examine their ability to avoid exposure to unnecessary risk in using these platforms,” said Shaun Sibley, managing director, supply chain and commodities at Thomson Reuters. “Our work with CME Group highlights Thomson Reuters long-standing commitment to provide an open messaging platform that breaks down the barriers to communication in financial markets and helps our users to address regulatory requirements. This collaboration further increases the number of people in commodities and financial markets that can now communicate seamlessly with each other. Together, we are enriching these communities without disrupting workflow, increasing costs, or compromising the robust compliance and security standards that need to be addressed in order to participate in today’s marketplace.”