Refinitiv
| Refinitiv | |
| Founded | 2018 |
|---|---|
| Headquarters | London |
| Key People | David Craig, Chief Executive Officer |
| Products | Market data and trading technology |
| Website | https://www.refinitiv.com/en |
| Releases | Company News |
Refinitiv is a financial markets data and infrastructure company that came out of a 2018 deal between Thomson Reuters Corp and Blackstone Group. Refinitiv's Eikon terminals are one of the main rivals to Bloomberg. [1]
The firm, formerly the Financial and Risk business of Thomson Reuters, offers market data and infrastructure services to more than 40,000 customers in more than 190 countries.[2]
Refinitiv was acquired by the London Stock Exchange Group (LSEG) in 2021.[3]
History[edit]
Refinitiv is the rebranded name of an entity formed in 2018 when Thomson Reuters sold a majority stake, 55 percent, in its Financial & Risk unit to the private equity firm Blackstone Group LP. David Craig, previously head of the F&R unit, became CEO of Refinitiv following the completion of the deal, which valued Refinitiv at $20 billion.
Thomson Reuters retained a minority stake in the division.
In July 2019, it was confirmed that the London Stock Exchange had offered to buy Refinitiv for $27 billion. The move, when finalized, would expand the LSE information services business.[4][5]
Refinitiv already held a 54% economic interest in the LSE’s MTS and Tradeweb, both of which have an extensive share of European sovereign debt trading.[6]
In November 2020, the LSE and Refinitiv made commitments to Brussels antitrust authorities to keep trading and clearing of interest rate derivatives separate, in an effort to satisfy one of the regulator’s key concerns with the $27bn deal, the Financial Times reported. The offer was part of a package of measures the two sides submitted, which included the €4.3bn sale of Borsa Italiana to Euronext, intended to fend off another significant regulatory issue.[7]
The LSEG completed the acquisition of Refinitiv in 2021 after the European Commission gave its approval for the deal in January 2021. The deal transformed the 300-year-old London Stock Exchange exchange into a group for which market data and analytics are larger than all its other business lines combined.[8]
Products and Services[edit]
The company works across a number of markets and business sectors in financial data and technology. It may be best known for its Eikon trading and market data/information platform for desktops and mobile devices.[9]
It offers the largest FX trading platform with more than 1,700 institutional clients and more than $400 billion of FX trading on the platform per day. It also offers bond trading and auctions for central banks.
It also provides financial market data and analysis tools for investments, wealth management, regulatory compliance, market data management, enterprise risk and fighting financial crime.[10]
On January 6, 2021 Refinitiv announced its plan to launch the Refinitiv Term SONIA benchmark on January 11, 2021. This followed the previous announcement in July 2020 that Refinitiv would launch the prototype version of the same rate.[11]
Key People[edit]
- David Craig, CEO
- Brian West, CFO
- Debra Walton, Chief Revenue Officer
- Phil Wellard, Chief Information Officer
References[edit]
- ↑ London Stock Exchange in talks to combine with Refinitiv. The Financial Times.
- ↑ London Stock Exchange in talks to buy Refinitiv for $27 billion. Reuters.
- ↑ London Stock Exchange says Refinitiv costs and savings on track. Yahoo Finance.
- ↑ LSE Soars on Bet $27 Billion Refinitiv Bid Will Boost Bourse. Bloomberg.
- ↑ LSE-Refinitiv: A data-driven deal that adds up for the City. Financial News.
- ↑ LSE set to send $27bn Refinitiv tie-up to EU regulators. The Financial Times.
- ↑ LSE and Refinitiv make commitments on trading to secure EU approval for deal. The Financial Times.
- ↑ LSE’s $15 Billion Refinitiv Deal Is Cleared by Key European Regulator. WSJ.com.
- ↑ Why choose Eikon?. Refinitiv.
- ↑ Refinitiv unwraps Beneficial Ownership and Vessel data to support improved risk management. Refinitiv.
- ↑ Refinitiv to launch production Term SONIA benchmark on January 11, 2021. Refinitiv.