Thomson Financial

Last updated
Thomson Financial
Fate Merger with Reuters Group plc
Successor Thomson Reuters
DefunctApril 2008
Headquarters
Boston   OOjs UI icon edit-ltr-progressive.svg

Thomson Financial was an arm of the Thomson Corporation, an information provider. When the Thomson Corporation merged with Reuters to form Thomson Reuters in April 2008, Thomson Financial was merged with the business of Reuters to form the Markets Division of Thomson Reuters.

Contents

History

Thomson Financial expanded significantly when it acquired Primark, another financial information provider, on June 6, 2000, for $842 million in an all-cash deal. Primark owned many brands in both the U.S. and UK/Europe such as Datastream, Baseline Financial, Intellivate Capital Ventures (ICV), and IBES. The acquisition consolidated and combined competing financial information provision, for example the FirstCall and IBES earnings estimate data, under the same company.

On 17 April 2008 the Thomson Corporation merged with Reuters and created the new company Thomson Reuters. Thomson Financial and Reuters combined their businesses into the Markets Division: Sales & Trading, Enterprise, Investment & Advisory, and Media. The other Thomson operations were combined into the Professional Division: Legal, Healthcare & Science, and Tax & Accounting. Thomson Reuters Financial & Risk eventually became Refinitiv.

Major office locations

Thomson Financial had many offices across the US, Europe, and Asia Pacific regions. The head office was based in Boston (1987-2008) and New York (joint with Boston), with significant presence in San Francisco, London, Frankfurt, Bangalore, Manila, and many satellite offices in locations such as Sydney, Hong Kong, Tokyo, Zurich, Geneva, just as some examples. The two major data centers, not including smaller points of presence, for Thomson Financial were located in NYC and New Jersey.

In June 2007, Thomson Financial agreed to buy seven Asia-Pacific news bureaus from Xinhua Finance. [1] The bureaus purchased were in Tokyo, Manila, Jakarta, Kuala Lumpur, Singapore, Sydney and Seoul. Xinhua Finance stated they would retain their operations in Beijing, Shanghai, Hong Kong and Taipei. Financial terms were not disclosed.

Products

The company had a wide variety of financial products. Thomson ONE is a core product, although legacy branded offerings such as Datastream Advance and Global Topic will probably remain for a few years.[ year missing ] Thomson ONE was a competitor of Bloomberg L.P., Capital IQ and FactSet Research Systems. There were different packages of Thomson ONE, i.e., Thomson ONE for Investment Management, Thomson ONE for Investment Banking, etc. Due to the acquisition of Primark and buyout of ILX Systems, Thomson Financial had seen growth over the previous four years[ year missing ] and had seen improvement in the core product Thomson ONE.

Thomson Financial transaction platforms are ubiquitous in financial markets world-wide and included Thomson AutEx trade order indications and executions, Thomson PORTIA automated portfolio management system, Thomson TradeWeb on-line trading network for fixed-income securities, and Thomson BETA Systems for securities data and brokerage processing systems.

See also

Related Research Articles

State Street Corporation US-based international financial services holding company

State Street Corporation is an American financial services and bank holding company headquartered at One Lincoln Street in Boston with operations worldwide. It is the second United States bank on the list of oldest banks in continuous operation; its predecessor, Union Bank, was founded in 1792. State Street is ranked 15th on the list of largest banks in the United States by assets. It is one of the largest asset management companies in the world with US$2.511 trillion under management and US$31.62 trillion under custody and administration. It is the second largest custodian bank in the world.

An Investment bank is a financial services company or corporate division that engages in advisory-based financial transactions on behalf of individuals, corporations, and governments. Traditionally associated with corporate finance, such a bank might assist in raising financial capital by underwriting or acting as the client's agent in the issuance of securities. An investment bank may also assist companies involved in mergers and acquisitions (M&A) and provide ancillary services such as market making, trading of derivatives and equity securities, and FICC services. Most investment banks maintain prime brokerage and asset management departments in conjunction with their investment research businesses. As an industry, it is broken up into the Bulge Bracket, Middle Market, and boutique market.

Wharton Econometric Forecasting Associates, Inc was a world-leading economics forecasting and consulting organisation founded by Nobel Prize winner Dr. Lawrence R. Klein.

Financial services economic service provided by the finance industry

Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, consumer-finance companies, stock brokerages, investment funds, individual managers and some government-sponsored enterprises. Financial services companies are present in all economically developed geographic locations and tend to cluster in local, national, regional and international financial centers such as London, New York City, and Tokyo.

Thomson Corporation company

The Thomson Corporation was one of the world's largest information companies. It was established in 1989 following a merger between International Thomson Organisation Ltd (ITOL) and Thomson Newspapers. In 2008, it purchased Reuters Group to form Thomson Reuters. The Thomson Corporation was active in financial services, healthcare sectors, law, science and technology research and tax and accounting sectors. The company operated through five segments : Thomson Financial, Thomson Healthcare, Thomson Legal, Thomson Scientific and Thomson Tax & Accounting.

Fiserv Provider of financial services technology to banks

Fiserv, Inc. is a global provider of financial services technology. The company's clients include banks, thrifts, credit unions, securities broker dealers, leasing and finance companies, and retailers. In October 2015, American Banker and BAI ranked the company third by revenue among technology providers to U.S. banks. Fiserv reported total revenue of $5.51 billion in 2016. In summer of 2018, Fiserv obtained the naming rights to the Fiserv Forum, home to the Milwaukee Bucks, for 25 years. Fiserv has been named as 2019 Fortune World's Most Admired Companies, sixth consecutive year it has earned this recognition and 9 times in the last 11 years.

Reuters Group plc was a British multinational media and financial information company headquartered in London, United Kingdom. It was acquired by the Thomson Corporation in 2008, forming Thomson Reuters.

EcoWin was a provider of worldwide economic and financial market data until it was taken over by Reuters Group in 2005. It was based in Gothenburg, Sweden, where it was founded in 1994. It had offices in London, Paris, New York City and Gdańsk.

Banc of America Securities LLC (BAS), was the investment banking subsidiary of Bank of America until it was merged with Merrill Lynch after that firm's acquisition in 2008 to become Bank of America Merrill Lynch. Headquartered in New York City, the company competed in both the domestic and international equity and investment banking markets.

Beat Holdings Limited formerly known as Xinhua Holdings Limited and Xinhua Finance, is a company founded in 1999. It is engaged in the provision of financial information and services, primarily in the China market. It is headquartered in Hong Kong. It is listed on the Tokyo Mothers Board (9399). The company's subsidiary, Xinhua Finance Media Ltd, was listed on NASDAQ which was delisted in 2011 after the exposure of a scandal.

FactSet Research Systems Inc., trading as FactSet, is a financial data and software company headquartered in Norwalk, Connecticut, United States. The company provides integrated data and software solutions to investment professionals across the world. For fiscal year 2019, FactSet's total ASV and professional services revenues were $1.48 billion.

Finastra financial technology company

Finastra is a financial technology company based in London. The firm was formed in late 2017 through the combination of D+H and Misys, after Vista Equity Partners acquired Misys in June 2012 and subsequently purchased D+H in 2017.

Thomson Reuters Canada-based media company

Thomson Reuters Corporation is a Canadian multinational media conglomerate. The company was founded in Toronto, Ontario, Canada, where it is headquartered at 333 Bay Street.

Thomson Reuters Lipper is an American financial services firm. Founded in 1973 as Lipper Analytical Services, it was acquired by Reuters in 1998. Lipper delivers data on more than 265,000 collective investments in 61 countries.

Houlihan Lokey company

Houlihan Lokey, Inc., is American multinational independent investment bank and financial services company. Houlihan Lokey was founded in 1972 and is headquartered at Constellation Place in Century City, Los Angeles, California. The firm advises large public and closely held companies as well as institutions and governments. Its main service lines include mergers and acquisitions, capital markets, restructuring and distressed M&A, fairness opinions, and valuations. As of May 31, 2018, Houlihan Lokey employed more than 1,300 employees worldwide.

ICMA Centre

The International Capital Market Association Centre is a centre of higher education based in the English town of Reading, Berkshire. It offers undergraduate, postgraduate and executive education tailored to the capital markets industry.

Extel financial news service

The Exchange Telegraph Co. Ltd. was created in March 1872 specifically to distribute financial and business information from the London Stock Exchange and other commercial markets direct to subscribers. The company established ticker tape telegraph machines in offices, gentlemen's clubs, banks etc. and provided a continuous stream of commercial information to them.

A financial data vendor provides market data to financial firms, traders, and investors. The data distributed is collected from sources such as a stock exchange feeds, brokers and dealer desks or regulatory filings.

TASC, Inc.

TASC, Inc., formerly known as The Analytic Sciences Corporation, Inc., is an American private defense contractor based outside Washington, D.C., in Chantilly, Virginia. Northrop Grumman owned TASC from 2001 to 2009, when it sold the unit to comply with new government conflict of interest rules.

Refinitiv Financial technology company

Refinitiv is a global provider of financial markets data and infrastructure. The company was founded in 2018. It is jointly owned by Blackstone Group LP which has a 55% stake and Thomson Reuters which owns 45%. The company has an annual turnover of $6bn with more than 40,000 client companies in 190 countries.

References

  1. "Thomson buys non-China bureaus of Xinhua Finance". Reuters. 2007-06-01.