News agency Reuters and Microsoft have entered into a joint venture to supply the finance industry with an instant messaging service, including a contacts directory of global financial professionals.
Branded as Reuters.Net, the service will offer institutions an encrypted and firewall-compliant communications channel. This will be based on Microsoft`s standards-based Session Initiation Protocol.
Reuters will work closely with customers to develop tailored solutions for individual clients. Development will focus on the ability to integrate with in-house systems and Reuters` own services such as Reuters 3000 Xtra.
The service will be available over the Internet and the Radianz financial services network for those customers who require a higher speed performance and additional security.
Tom Glocer, Reuters chief executive designate, says: "Reuters.Net Messaging is at the heart of our strategy to develop next-generation tools to facilitate collaboration within the global financial services community.
"By working with the latest standards-based technology from Microsoft, we will offer our customers a suite of communications tools for use within their firms and with external counterparts. In an industry where security, reliability and speed are paramount, Reuters.Net Messaging will deliver a genuine competitive-edge."
Twenty-five financial institutions have joined forces with Reuters to develop the instant messaging service. These include ABN Amro, Citigroup - Salomon Smith Barney, Credit Agricole Indosuez, Deutsche Bank, DKB Information Systems, Dresdner Kleinwort Wasserstein, HSBC, Societe Generale and Tokai International Securities.
Over the coming months, Reuters will work with the 25 financial institutions to tailor the service to the industry`s business needs. The full service will be available to the early participants in late 2001, and then to the entire industry. However, these are guideline dates and may be subject to the development work.
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