Thomson Financial

Last updated
Thomson Financial
Fate Merger with Reuters Group plc
Successor Thomson Reuters
DefunctApril 2008

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.

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.

Reuters International news organization owned by Thomson Reuters

Reuters is an international news organization owned by Thomson Reuters. Until 2008, the Reuters news agency formed part of an independent company, Reuters Group plc, which was also a provider of financial market data. Since the acquisition of Reuters Group by the Thomson Corporation in 2008, the Reuters news agency has been a part of Thomson Reuters, making up the media division. It was established in 1851.

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.

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.

The Institutional Brokers' Estimate System (I/B/E/S) is a service founded by the New York brokerage firm Lynch, Jones & Ryan and Technimetrics, Inc. I/B/E/S began collecting earnings estimates for U.S. companies around 1976 and used the raw data to calculate statistical time series for each company. The data subsequently was used as the basis for articles in academic finance journals attempting to demonstrate that changes in consensus earnings estimates could identify opportunities to capture excess returns in subsequent periods. After starting with annual earnings estimates and estimates of "Long Term Growth, the database later was expanded to include quarterly earnings estimates. This allowed for the analysis of "Quarterly Earnings Surprises." Other innovations made possible by the I/B/E/S data included estimates for various equity indexes on a "top down" basis and estimates made on a "bottom up" basis for those same indexes. In the mid-1980s I/B/E/S began to expand its dataset to include companies trading in international markets. Lynch, Jones was sold to Citigroup in 1986. Barra bought I/B/E/S in 1993, selling it to Primark two years later. Thomson Financial purchased Primark in 2000; the database is currently owned by Thomson Reuters.

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.

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.

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.

Tokyo Capital of Japan

Tokyo, officially Tokyo Metropolis, is one of the 47 prefectures of Japan. It has served as the Japanese capital since 1869. As of 2018, the Greater Tokyo Area ranked as the most populous metropolitan area in the world. The urban area houses the seat of the Emperor of Japan, of the Japanese government and of the National Diet. Tokyo forms part of the Kantō region on the southeastern side of Japan's main island, Honshu, and includes the Izu Islands and Ogasawara Islands. Tokyo was formerly named Edo when Shōgun Tokugawa Ieyasu made the city his headquarters in 1603. It became the capital after Emperor Meiji moved his seat to the city from Kyoto in 1868; at that time Edo was renamed Tokyo. The Tokyo Metropolis formed in 1943 from the merger of the former Tokyo Prefecture and the city of Tokyo. Tokyo is often referred to as a city but is officially known and governed as a "metropolitan prefecture", which differs from and combines elements of a city and a prefecture, a characteristic unique to Tokyo.

Manila Capital and Highly Urbanized City in National Capital Region, Philippines

Manila, officially the City of Manila, is the capital of the Philippines and highly urbanized city. It is the most densely populated city proper in the world as of 2018. It was the first chartered city by virtue of the Philippine Commission Act 183 on July 31, 1901 and gained autonomy with the passage of Republic Act No. 409 or the "Revised Charter of the City of Manila" on June 18, 1949. Manila, alongside Mexico City and Madrid are considered the world's original set of Global Cities due to Manila's commercial networks being the first to traverse the Pacific Ocean, thus connecting Asia with the Spanish Americas, marking the first time in world history when an uninterrupted chain of trade routes circled the planet. Manila has been damaged by and rebuilt from wars more times than the famed city of Troy and it is also the second most natural disaster-afflicted capital city in the world next to Tokyo, yet it is simultaneously among the most populous and wealthiest cities in Southeast Asia.

Jakarta Special Capital Region in Indonesia

Jakarta, officially the Special Capital Region of Jakarta, is the capital and largest city of Indonesia. Situated on the northwest coast of the world's most populous island of Java, it is the centre of economy, culture and politics of Indonesia with a population of more than ten million as of 2014. The Jakarta metropolitan area, which has an area of 6,392 square kilometres, is the world's second most populous urban area after Tokyo, with a population of about 30 million as of 2010. Jakarta's business opportunities, as well as its potential to offer a higher standard of living, have attracted migrants from across the Indonesian archipelago, making it a melting pot of numerous cultures. Jakarta is nicknamed the "Big Durian", the thorny strongly-odored fruit native to the region, as the city is seen as the Indonesian equivalent of New York.

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.

Bloomberg L.P. Financial, software, data, and media company based in New York City

Bloomberg L.P. is a privately held financial, software, data, and media company headquartered in Midtown Manhattan, New York City. It was founded by Michael Bloomberg in 1981, with the help of Thomas Secunda, Duncan MacMillan, Charles Zegar, and a 30% ownership investment by Merrill Lynch.

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.

Electronic trading platform

In finance, an electronic trading platform also known as an online trading platform, is a computer software program that can be used to place orders for financial products over a network with a financial intermediary. Various financial products can be traded by the trading platform, over a communication network with a financial intermediary or directly between the participants or members of the trading platform. This includes products such as stocks, bonds, currencies, commodities, derivatives and others, with a financial intermediary, such as brokers, market makers, Investment banks or stock exchanges. Such platforms allow electronic trading to be carried out by users from any location and are in contrast to traditional floor trading using open outcry and telephone based trading. Sometimes the term trading platform is also used in reference to the trading software alone.

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References

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