‘Two banks in India use Reuters workstation for transactions’

Our eFE Bureau

Mumbai, Aug 28: TWO banks in the country, ICICI and a foreign bank, are using the new multifunctional workstation of Reuters to meet the needs of foreign exchange and money market.

Reuters India on Tuesday announced the launch of Dealing 3000 Direct, the multifunctional workstation on the occasion of its 150th year anniversary celebrations. “ICICI and an international bank which I can’t name are using our systems,” said Reuters Group PLC chief operating officer Philip Green.

Reuters is in the process of reinventing itself with the focus going to be on three segments of the financial services: Treasury, investment banking, and asset management.

“Media is less than 10 per cent of our total business. The reinvention is happening less in that area. We see growth happening in the financial services information market,” said Mr Green.

A blend of content, technology and connectivity is essential. While technology enables transaction capabilities, connectivity will pertain to Internet and proprietary networks.

Commenting on the acquisition of the assets of Bridge Information Systems, Mr Green said the integration process would happen subject to the approval of the department of Justice in the US.

“It is a big task to integrate on the technology, commercial and organisational front. But we have a background. Our operations will be restricted to the US. We will not be providing the Bridge service in other markets,” said Mr Green.

The flexibility of the Dealing 3000 platform allows a screen to be customised to a trader’s specific market and trading needs, allowing up to 26 conversations to be open on the desktop at one time. The new system will allow a trader to contact a specific counter party at the touch of a button and the system captures the details of the trade to create a deal ticket. The system can also send market commentary and pre-defined templates of price information to counterparties. “More than 25 per cent of Reuters customers have already upgraded to the platform across 35 countries,” Mr Green
said.