Reuters is set to launch a new version of its 3000 Xtra “premium desktop service” this month. Enhancements in version 4 of the service include broader and deeper data coverage, new analytic capabilities, together with improved navigation and customization features. Reuters 3000 Xtra was first launched in late 1999 and brings together all its previous data and analysis services as a single high-end product targeted at global financial institutions. Vendor officials say the new “one size fits all” service has been a hit with customers, with some 27,500 terminal sales worldwide to date.
On the content front, version 4 of 3000 Xtra includes a host of new data on convertibles, warrants and funds. Bondex data on emerging market securities is also included for the first time, together with specialist data such as JP Morgan Credit Indices and Salomon Smith Barney World Bond Indices. The service also generates implied option volatilities for Liffe markets in real time.
Reuters has also beefed up the analytic capabilities of 3000 Xtra. New features include a world FX page that tabulates currency cross rates, as well as calculators for currency swaps, overnight indexed swaps, exotic extensions and FRNs. The system’s zero coupon bond curve generating facilities have also been extended from 10 years out to 30 years.
The new release also sees significant changes to the service’s user interface, designed to aid navigation through the enhanced data universe. Browser-style buttons allow users to flip back and forth between pages, or to return to a home page. Users can also use an intelligent search feature to call up data on a particular instrument without needing to know its Reuters Instrument Code (RIC).
Paul Hansford, director of premium desktop services at Reuters Information, says the vendor comfortably beat “very aggressive” sales targets last year. The bulk of the service’s sales have been to sell side institutions such as Merrill Lynch and Lehman Brothers, he adds, though larger buy side players have also been interested, especially Swiss funds that invest in a diverse range of international asset classes. He attributes the product’s success to its extensive customisation facilities: “Users want to see their own unique view of the markets,” he says.
Hansford adds that the vendor plans future enhancements to 3000 Xtra throughout this year, including interactive features such as instant messaging facilities. Reuters eventually plans to develop 3000 Xtra into a “window” on its entire range of services, he says – including trading services such as Dealing 3000 and Instinet. The vendor is committed to Microsoft Windows 2000 as its underlying technology standard, he adds, arguing that Internet/Java-based platforms are not yet robust enough to support the premium end of the financial information services market.