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Thomson Reuters Launches Enterprise Platform for Exchanges

New offering provides data distribution for all asset classes in a variety of formats.

Thomson Reuters has launched the Thomson Reuters Enterprise Platform for Exchanges (EPX). The offering is an asset class-agnostic, data platform that supports the creation and distribution of all exchange information services.

While many of the larger exchanges have their own data distribution architectures and technologies, smaller exchanges that do not have the scale to compete against traditional powerhouses such as NYSE Euronext or Nasdaq OMX may look to other technology providers, rather than try to invest in the infrastructure to support data distribution.

Exchanges around the world face a challenging environment characterized by increased competition, commercial pressure on transaction revenues, new regulatory mandates and demands from trading members for scalable systems that can support high-frequency trading strategies.

EPX provides exchanges with a dependable data distribution to drive growth and attract order flow, according to Thomson Reuters. In addition it caters to each stakeholder's unique data requirements, while optimizing information services by decreasing time to market with new value-added content and services.

The platform supports every type of exchange information service, from the lowest-latency raw order book feeds used by high-frequency traders, to conflated feeds carrying enriched content such as news, analytics, indexes and reference data for vendor redistribution and to power data display applications.

According to Thomson Reuters, these information services are supported by a scalable technology architecture that provides gap recovery and order book image retrieval capabilities. The platform also offers configurable conflation for tiered qualities of service, and packet capture to maintain an audit trail for management and supervisory functions. Additional functionality includes a fault-tolerant dual-site configuration, and a set of add-on tools for visibility into systems performance and automated optimization.

Terry Roche, global head of Elektron real-time and Enterprise Platform, said in a statement: "Thomson Reuters has been a key partner to hundreds of exchanges and trading venues around the world. Now, by launching EPX, we can provide exchanges with a complete technology platform that allows them to respond to new business and regulatory drivers for low-latency feeds, enriched content, enhanced delivery channels and new data workflows."

EPX is built on an open and extensible message model that not only allows exchanges to distribute content across all asset classes, but also supports all data workflows -- including order-driven market data dissemination, RFQ and IOI messaging, trade and transaction reporting -- enabling exchanges to capitalize on new market- and regulatory-driven opportunities.

Greg MacSweeney is editorial director of InformationWeek Financial Services, whose brands include Wall Street & Technology, Bank Systems & Technology, Advanced Trading, and Insurance & Technology. View Full Bio

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