Thomson Reuters (TR) and Symphony Communication Services have announced a partnership that will enable market participants to share information from Eikon such as charts, news and data via Symphony’s messaging and collaboration platform.
The integration is slated to be available later this year. Users who have both Thomson Reuters Eikon and Symphony will be able to share Eikon content directly through the Symphony messaging and collaboration platform. If the recipient also has Eikon, then they are able to share live data, news and charts to support dynamic, real-time collaboration. The integration will leverage both Eikon and Symphony open APIs.
This partnership is clearly taking aim at Bloomberg’s position as the dominant messaging system used by trading counterparties. However, Spencer Mindlin, an analyst at Aite Group, suggests that there is no immediate danger of Bloomberg being dislodged from this position.
“Bloomberg is still the industry leading messaging platform for the front office. Symphony has a long way to go towards becoming the dominant channel between clients and traders,” he says.
Despite this, he also notes that this announcement signals that “Symphony’s backers, many of which are also Thomson Reuters clients, are committed to communicating over the Symphony network”.
Deb Walton, global managing director of customer propositions at TR, hails the partnership as another important step towards breaking down barriers to efficiency in financial markets”.
She adds: “Symphony joins a growing community of partners who, together with Thomson Reuters, are bringing innovation to the financial community via our open Eikon platform. While Eikon users can already share Eikon content with counterparts via our strategic open Eikon Messenger platform, this partnership gives our customers the choice to extend these collaboration capabilities to the Symphony community. This is about streamlining desktop workflow for our customers by providing access to a powerful and integrated financial technology ecosystem.”
In a release issued today, TR describes the Symphony integration as “the latest milestone” for it open platform strategy, following on from the recent launch of its “Side by Side Integration API” for Eikon, which is designed to enable an improved workflow for users by integrating Eikon with multiple applications on a single desktop.
Meanwhile, Symphony CEO, David Gurle, comments: “We are thrilled to partner with Thomson Reuters as a highly respected market leader within the financial industry. This partnership will provide the Symphony Community a comprehensive and integrated collaboration and workflow solution. Customers will be able to execute entire workflows within Symphony through the seamless integration of powerful communication and collaboration capabilities with information-rich content and business critical applications.”