Thomson Reuters expands buy-side tools with REDI acquisition

REDIPlus will be integrated into Thomson Reuters’ Eikon to create a“broker-neutral” trading platform.

Thomson Reuters has announced it is to acquire REDI Holdings, to expand its buy-side services through integrating the firm’s trading tools.

REDI’s execution management system (EMS) REDIPlus, will be integrated into Thomson Reuters Eikon and Elektron services to form a “broker-neutral” trading platform.  

Buy-siders will be able to carry out trading activities across the trading lifecycle, and across asset classes through the integrated service.

Global head of equities and managing director at Thomson Reuters Michael Chin, said the integration will transform Eikon into a “world-class” trading system for the buy-side.

“[It will] further expand the breadth and depth of market data available to them via Elektron — helping our customers participate in the market with greater intelligence and efficiency,” he added.

Chief executive officer at REDI Rishi Nangalia, said the buy-side continues to need “truly open, broker-neutral trading systems,” explaining the firm’s capabilities complement those at Thomson Reuters.

He also said the acquisition will see the companies “bring together an independent, end-to-end trading solution to market that is unique in the industry.”

The acquisition is to be completed in the fourth quarter of this year, subject to regulatory approval and closing conditions.