LONDON (Brand Republic) - Reuters has joined forces with Microsoft to develop Reuters.Net Messaging, an instant messaging service for the global financial services industry.
The service will use Microsoft鈥檚 technology to allow financial professionals to send information to colleagues and clients over the internet. Contacts are stored in a global directory and messages can be sent from a PC or handheld device.
The move is seen as a direct challenge to Reuters鈥 competitor Bloomberg. Many traders currently use the Bloomberg terminal because it features a 鈥減op-up鈥 instant messaging facility but, according to Reuters鈥 chief executive-designate Tom Glocer, many consider the system to be too proprietary.
Reuters is trialling the system with 25 financial institutions, including ABN Amro, HSBC and Deutsche Bank.
Glocer also said yesterday that, although overall growth would be slower in 2001 compared with last year, Reuters was still gaining market share and that the recent falls in the financial markets had not hit the company鈥檚 revenues too badly.
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