Thomson Reuters releases 2011 annual report

Thomson Reuters just released their 2011 annual report. revenue $12.9bln (+5%).

The three-year integration, and re-structuring into four key business lines is now complete.

Key priorities for 2012

• Restarting growth in Financial & Risk business;
• Invest in higher growing market segments and adjacent market segments;
• Utilizing the strengths and advantages of our global businesses; and
• Accelerating development and expanding our position in faster growing geographic areas around the world.

The key financial business lines being:

Trading: Combination of the Eikon desktop, the Elektron network, content integration and management technology, content feeds and databases and transactions infrastructure. This combination of solutions supports the trading activities of buy-side and sell-side customers.

Competition: Bloomberg, SunGard, Telekurs and IDC, regional and niche competitors ranging from Markit and SuperDerivatives to Quick and Xinhua Finance. Trading’s real-time datafeeds compete with Bloomberg, S&P, IDC and its market data delivery offerings compete with specialty technology providers, exchanges such as NYSE Euronext and large IT vendors such as IBM.

Marketplaces: Electronic trading venues which provide access to liquidity in over-the-counter markets, trade execution and connections for market participants and communities of financial professionals worldwide. Marketplaces also provides post-trade services globally, enabling banks, brokers and electronic marketplaces to seamlessly connect with their counterparties. Includes: Reuters Dealing, Matching and TradeWeb (these will become SEF compliant platforms)

Competition: Competes with the large IDBs, such as ICAP’s EBS platform, and Bloomberg. Tradeweb’s principal competitors include MarketAxess and Bloomberg.

My comment on regulation: Interestingly, given the huge impact that regulation is having on global financial markets, the words Dodd-Frank only appears 5 times in the whole report, whilst SEF, Swap Execution Facility don’t appear in the report at all. Although, back in July last year, Jas Singh, global head of treasury announced Reuters timeline of mid-2012 for SEF compliance here.

Full report here

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