Thomson Reuters Financial & Risk business has announced that following the closing of the strategic partnership transaction between Thomson Reuters and private equity funds managed by Blackstone, the Financial & Risk business will be known as Refinitiv.

 

The transaction is likely to be completed in the second half of 2018 and until then the business will continue to be known as Thomson Reuters Financial & Risk.

 

The Financial & Risk business of Thomson Reuters is one of the world’s largest providers of financial markets data and infrastructure, serving over 40,000 institutions in over 150 countries. 

 

Thomson Reuters and Blackstone announced their strategic partnership on January 30, 2018. As part of the transaction, Thomson Reuters will sell a 55 per cent interest in the Financial & Risk business and will retain a 45 per cent interest in the business. 

 

Canada Pension Plan Investment Board and an affiliate of GIC will invest alongside Blackstone.

 

As a standalone company, it will continue to focus on providing leading data and insights, trading platforms, market data infrastructure and open technology platforms that support and connect a thriving global financial markets community - driving progress in areas such as trading, investment, wealth management, regulatory and market data management, enterprise risk and tackling financial crime.

 

The new name Refinitiv was created based on feedback from customers and industry influencers on the intrinsic value of the Financial & Risk business to the industry.

 

It is a name that aims to blend definitive action in financial markets and a bold focus on the future with a 160-year legacy of excellence as a pioneer in financial technology, said a statement from the company.

 

“Thomson Reuters Financial & Risk has a rich history and reputation and it was important to us that our new name celebrated both our pride in our legacy and also the defining role we will continue to play as an integral and innovative part of the financial markets community,” remarked David Craig, the president, Thomson Reuters Financial & Risk and future CEO of Refinitiv.

 

"We see a future defined by an accelerating speed of change, where technology-led automation will not only continue to see the rise of smarter machines but also the rise of more productive and smarter humans," remarked Craig. 

 

"As we innovate with our customers and partners at the intersection of data, technology and financial services, we firmly believe in a trusted financial system that empowers smart and sustainable investment and financing. We believe in fair and efficient markets," he stated. 

 

"We believe that we can find better ways for our customers to prevent financial crime. And we believe that cloud technology will drive speed and agility in the analysis of data and the unearthing of new opportunities," said Craig. 

 

"We are excited about the role we, as Refinitiv, will play in this future to the benefit of our customers, financial markets and the wider world," he added.  

 

Thomson Reuters Financial & Risk’s flagship platforms, Eikon and Elektron Data Platform, will continue to be central to Refinitiv’s open platform strategy, with over 20,000 developers using its open APIs to create an ecosystem of over 50,000 customer and partner applications.-TradeArabia News Service