Thomson Reuters Teams With Redkite On Market Surveillance

Thomson Reuters has teamed up with Redkite Financial Markets to offer a real-time trade surveillance solution with relevant pre and post-trade information for monitoring and risk management controls.

Clients of Thomson Reuters will be able to access the Redkite trade surveillance solution as a managed service within the Elektron high performance, real-time network hosting environment. In addition, the new Redkite solution Redeye, will also be available as a deployed solution within a firm’s own enterprise environment, according to the release.

The integrated offering is a response to regulatory pressures on sell side and buy-side firm, driving the need for risk management compliance and surveillance solutions. Global sell side and buy side firms are facing regulations being drafted at a record pace including those from Europe, namely ESMA and extensions to the Market Abuse Directive; others in the U.S. come from the SEC and its investigations of the Flash Crash and the Dodd-Frank bill; and worldwide from sources such as the August 2010 IOSCO report.

“Globally, we are seeing increased demand for improved surveillance products and processes in the face of imminent market structure changes,” commented Mike Powell, Thomson Reuters’ Global Head of Enterprise Real Time Solutions, in the release. “The combination of Thomson Reuters Elektron and Redeye will provide a high performance solution to support customers’ trading workflow and better enable them to meet new regulatory requirements.”

As the industry’s first trade surveillance solution available through Elektron, users of Redeye will have access to a fully managed, integrated solution incorporated Thomson’s Reuters’ real-time pricing, news and tick history data. Firms can also collocate their trading applications and market connectivity in the Elektron fully managed low-latency hosting environment, states the release. This will enable firms to rapidly integrate, test and use new surveillance strategies in step with changing market requirements.

In a statement, Justin Amos, Redkite’s co-founder & CEO, added: “Working with Thomson Reuters will ensure that Redeye users will have access to the most comprehensive global cross asset content from the leading market data and infrastructure provider, with comprehensive, dedicated hosting and application support afforded by Elektron's global footprint.

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio