Thomson Reuters (NYSE: TRI) has completed its acquisition of REDI Holdings, allowing Thomson Reuters to incorporate an advanced, cross-asset execution management system (EMS) into its buy-side trading capabilities and deliver integrated trading workflow solutions to the buy-side community.
Thomson Reuters first announced the deal back in September 2016.
REDI will now operate as Thomson Reuters REDI.
In the coming months, Thomson Reuters will begin integrating REDI’s trading capabilities with Eikon and Elektron, its suite of data and trading propositions, to enable institutional traders to move seamlessly from pre-trade activities to trade execution across asset classes on an integrated platform.
The acquisition of REDI by Thomson Reuters is significant as it further confirms the growing demand of the buy-side to seek fully integrated solutions that support their end-to-end trading workflow requirements,” said Brad Bailey, research director at Celent. “The demand for cross asset liquidity sourcing, execution, and trade management is key for the buy-side as it continues to demand greater cross-asset functionality and better efficiency in its workflows. The regulatory environment in the US and forthcoming in Europe, with MiFID II, is driving the demand for TCA, analytics and workflow management.
Michael Chin
Michael Chin, Managing Director, Global Head of Trading, Thomson Reuters, added:
Thomson Reuters REDI brings a best-in-class workflow solution to the buy-side trading community that is already used by over 3,800 traders worldwide. The buy-side continues to need truly open, broker-neutral trading systems and we will be actively investing in and promoting REDI to meet the needs of our customers. And by integrating the capabilities with other Thomson Reuters solutions, we will create in Eikon a truly end-to-end trading solution for the buy-side while further expanding the breadth and depth of market data available via Elektron.