DEFINITION of 'Reuters'
Reuters was a standalone global news and financial information company headquartered in London until it was bought by Thomson Financial Corporation in 2008. The parent company is now known as Thomson Reuters Corporation; its headquarters is in New York City. The stock is listed on the New York and Toronto exchanges.
BREAKING DOWN 'Reuters'
Thomson Reuters serves professionals in the financial services, media and corporate markets. The company's core strength is in providing the content, analytics, trading and messaging capabilities needed by financial professionals via its Thomson Reuters Eikon System. The Reuters news agency provides text, graphics, video and pictures to subscribers around the world, including general interest and business news. The company also provides both general and business news via its proprietary news website, Reuters.com.
Reuters is part of Thomson Reuters Corporation. It is both a worldwide news agency and a major provider of financial markets trading and analytical software.
Peter Julius Reuter established Reuter's Telegram Company in 1849 with an emphasis on providing business news quickly via both telegraph and carrier pigeons. In 1851, the company signed a ground-breaking contract with the London Stock Exchange to provide information on Paris stock exchange prices in exchange for conveying London prices overseas. The agency's first newspaper client was the London Morning Advertiser, and more followed. The company became known for its international reach, and it was reportedly the first European news group to break the news of U.S. President Abraham Lincoln's assassination in 1865.
Reuters was a major international news agency by the mid-20th century.
By the mid-1970s, the company's financial information terminals were ubiquitous in banks and financial institutions. By 1981, the company began to offer subscribers the ability to conduct financial transactions via its network of terminals. The Reuters Dealing 2000-2 system was released in 1992, and it revolutionized trading by eliminating the need for a broker.
The Reuters Dealing 3000 debuted in 1999. It incorporated live market data; trading and automated matching of trades between counter-parties; placement and execution of orders; secure messaging; and data analysis that incorporated Microsoft Excel functionality. The Dealing 3000 was used to trade foreign exchange, stocks, bonds, options and commodities.
The Dealing 3000 was replaced by the Thomson Reuters Eikon system in 2013. The software can be run on a desktop or mobile device. It is the number two financial markets software system, with over 14,000 users and 34% of the market. The Bloomberg Terminal is first with 57%.
Reuters News Agency
Reuters is the world's largest international news agency. It provides tailor-made broadcast news and print reports to media outlets worldwide on subjects ranging from terrorism and politics to entertainment and sports. It employs over 2,600 journalists in more than 200 locations worldwide and reports in 16 languages.