Thomson Reuters Eikon
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| Thomson Reuters Eikon | |
|---|---|
| Name | Thomson Reuters Eikon |
| Developer | Thomson Reuters |
| Released | 2010 |
| Operating system | Microsoft Windows, macOS, Web |
| Platform | Desktop, web, mobile |
| Language | English |
| Genre | Financial information platform |
| License | Proprietary |
Thomson Reuters Eikon is a financial information and trading desktop platform designed for professionals in banking, asset management, trading, and corporate finance. The platform provides real-time market data, news, analytics, and workflow tools that compete with other enterprise products in the financial services industry. Eikon aggregates content from legacy news services, research firms, exchanges, and regulatory bodies to support portfolio management, risk monitoring, and trading execution.
Overview
Eikon serves institutional users requiring consolidated access to pricing from exchanges such as New York Stock Exchange, London Stock Exchange, NASDAQ, Tokyo Stock Exchange and Shanghai Stock Exchange, news from outlets including Reuters, Associated Press, Bloomberg News, and analysis from providers like S&P Global, Moody's, Fitch Ratings, and Morningstar. It integrates company fundamentals for issuers listed on markets such as Deutsche Börse, Euronext, Hong Kong Stock Exchange, and BSE (Bombay Stock Exchange), alongside macroeconomic indicators published by organizations like the International Monetary Fund, World Bank, Organisation for Economic Co-operation and Development and central banks including the Federal Reserve, European Central Bank, and Bank of Japan. Eikon is used by traders, analysts, and compliance officers in firms similar to Goldman Sachs, JPMorgan Chase, Morgan Stanley, BlackRock and Citi.
History and development
Eikon originated after strategic consolidation of assets from legacy providers owned by Thomson and Reuters, following corporate events involving Thomson Corporation and Reuters Group and regulatory reviews by agencies such as the UK Competition and Markets Authority. Its rollout in the 2010s followed software products such as Thomson's earlier desktop tools and Reuters' proprietary terminals, with development influenced by enterprise platforms like Bloomberg Terminal, FactSet, and Refinitiv Workspace. The platform evolved through partnerships and acquisitions involving firms such as World-Check and data licensing deals with exchanges like Intercontinental Exchange and CME Group. Major updates aligned with regulatory reforms post-2008 financial crisis and reporting standards from bodies including the Financial Conduct Authority and Securities and Exchange Commission.
Features and functionality
Eikon offers price streaming, charting, news feeds, and communication tools comparable to systems used at Deutsche Bank, UBS, HSBC, Barclays, and Credit Suisse. Key modules cover fixed income, equities, foreign exchange, commodities, and derivatives, leveraging content from ICE Futures, London Metal Exchange, Chicago Mercantile Exchange, CBOE, and NASDAQ OMX. Analytical capabilities include time-series analysis, scenario modelling, and portfolio attribution employing methodologies from institutions like CFA Institute and Global Investment Performance Standards. Workflow integrations support order management systems at firms such as FlexTrade, pre-trade analytics similar to IHS Markit offerings, and compliance screening akin to products from World-Check and Thomson Reuters Risk.
Market data and analytics
Eikon aggregates tick-level market data, reference data, corporate actions, and exchange-traded instrument metadata from providers like SIX Financial Information, ICE Data Services, Tradeweb, MarkitSERV, and LCH. Analytics include volatility surface construction, option pricing models influenced by work from Black–Scholes, fixed income yield curve bootstrapping used in practices by Goldman Sachs and risk analytics consistent with frameworks from Basel Committee on Banking Supervision. The platform supports quantitative research workflows adopted by hedge funds such as Bridgewater Associates and quantitative groups at asset managers like Two Sigma and Renaissance Technologies.
Platforms and integration
Eikon is available as a desktop application, web client, and mobile apps interoperable with enterprise infrastructures at institutions like Microsoft Corporation via Microsoft Excel, and message and collaboration tools akin to Slack and Refinitiv Messenger. Integration points include APIs for programmatic access used by systematic trading desks at firms like Jane Street and Citadel, connectivity to execution venues including NYSE Arca and BATS Global Markets, and data export for visualization tools such as Tableau and Power BI. It supports standards and protocols from bodies like SWIFT and FIX Protocol for order routing and post-trade processing.
Pricing and licensing
Licensing for Eikon follows enterprise subscription models similar to agreements negotiated by Bloomberg L.P. and FactSet Research Systems, often involving seat-based fees, tiered data packages, and add-on charges for premium content from agencies like IHS Markit or S&P Global Market Intelligence. Large financial institutions, investment banks, and wealth managers negotiate enterprise licensing arrangements comparable to contracts held by BlackRock and Vanguard, while smaller firms and independent research shops may subscribe to limited-access tiers. Pricing considerations often reflect exchange data fees imposed by NYSE, NASDAQ, London Stock Exchange Group, and regional exchanges.
Criticism and controversies
Critiques of Eikon mirror industry concerns raised about competitors such as Bloomberg Terminal: subscription cost transparency issues noted by corporate procurement teams at HSBC and Barclays, data attribution disputes between content licensors like Reuters and exchange operators, and user experience debates in research communities including those around Wharton School and Harvard Business School. Regulatory scrutiny over market data distribution and bundling has involved authorities including the European Commission and US Department of Justice in the sector, while debates about vendor consolidation and market power reference influential firms like Bloomberg L.P., Refinitiv, and S&P Global. Additional controversies have touched on client privacy, data accuracy incidents reported in financial press outlets such as Financial Times and The Wall Street Journal, and competition law challenges linked to consolidation in financial information markets.