|ECB Signs Three Year Eikon Deal with Thomson Reuters|
|March 6, 2013|
The European Central Bank (ECB) has inked a three-year deal to roll out Thomson Reuters' Eikon data platform across its organization and the national central banks from 18 member states.|
The deal is the largest market data purchasing initiative implemented by the Eurosystem Procurement Coordination Office, set up to drive cost efficiencies by creating joint procurement frameworks for the ECB and European Union member states. Headquartered in Frankfurt, the ECB is the central bank for the Euro, setting the monetary policy of the EU member states that use the single currency. The 18 national central banks using Eikon represent Belgium, Germany, Ireland, Greece, Spain, France, Italy, Cyprus, Luxembourg, Hungary, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia, Romania and Finland.
Launched in 2010 to replace Thomson Reuters' legacy systems, Eikon is a market data tool which carries real-time data, news, charts, commentaries and analytics; it can also be used to execute equity, foreign exchange, fixed-income, derivative and commodities trades. Following a painfully slow start, the Eikon platform has begun to increase uptake through new features -- most recently upgraded search capabilities and consumer-style interfaces.
"The European Central Bank is always looking for ways to improve access to market information, encourage collaboration, and increase cost efficiencies for its members," says Mora Golding, an executive at ECB's market management team in a statement. "We appreciate Thomson Reuters Eikon as a powerful financial markets desktop that makes it easier for our users to find and analyze the information they need and connect with their peers, both at their desks and through mobile devices."
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