Thomson Reuters links up to London FinTech’s buy-side platform

The FINBOURNE LUSID platform looks to provide the buy-side with cost efficiency and better data management processes.

Thomson Reuters has teamed up with a London-based cloud technology firm to implement its investment management platform for client and transaction data.

FINBOURNE’s LUSID platform is an event-based ledger that allows in-house and third party services to interface with portfolios, holdings and transactions. The deal with Thomson Reuters aims to provide its clients with improved cost efficiency and better management of data used for regulatory compliance.

Thomson Reuters’ clients will be able to use the LUSID platform to manage portfolios and transactions data, alongside the firm’s portfolio construction, trade execution and risk management services. 

“Our customers depend on us to provide the insights, data, and advanced technological solutions needed to gain a competitive advantage,” said Pradeep Menon, global head of investing and advisory at Thomson Reuters. 

“Our partnership with FINBOURNE will enable our customers to manage currently disparate capabilities giving them a cloud-based ‘single source of truth’ for all portfolio and transaction data so that any change or update that occurs will be reflected in all products or applications in real-time.”

Dermot Shortt, co-founder of FINBOURNE, added that the partnership with Thomson Reuters heralds a new era for the FinTech company’s clients.

“Thomson Reuters is a superb partner for FINBOURNE. We share a common vision for the future state of investment management infrastructure, based on interoperability and open platforms,” he said.