These include real-time financial data; transaction capabilities; analytical, risk and trade management tools; collective investment data from Lipper; and historical databases. The company supplies news in text, graphics, video and pictures to media organizations and hundreds of web sites. Reuters widely exploits internet and other IP technologies to deliver financial information and news and supplies technologies and web portal infrastructure for clients to supply their own retail customers. (Reuters) Reuters is organized around four key customer segments: Asset Management serves professionals engaged in managing collective funds, such as pension, mutual or insurance, and wealth management for high net worth individuals. Reuters has a strong client base and international presence from which to grow and will provide new packaged offers and integration services including recently acquired Bridge assets and content from Lipper. Investment Banking and Brokerage is a growth business for Reuters. It serves investment banks, brokerages, venture capital concerns and similar businesses. Reuters is introducing improved services such as Smart Trading and Instant Messaging capabilities, consulting, research and advisory solutions. This segment is organized similarly to its clients covering the key areas of equities and fixed income trading, research and advisory. Treasury, Reuters' largest segment, serves foreign exchange and money market professionals in banks, brokerages, and exchanges and in corporate and institutional treasuries. Reuters was the first to provide access to electronics communications networks and electronic brokerage. Innovations have continued and today Reuters provides information, liquidity, transaction, solutions and delivery capabilities. Corporate and Media serves media and corporate clients as well as the commodities and energy sectors. The traditional heart of the company, Reuters Media has a commanding market share of the media wholesale and syndication market. Reuters has been growing its corporate information client base though its vertically aligned information businesses such as Tower and Yankee. The commodities and energy sectors represent growing market opportunities for Reuters.

Reuters Consulting, the proprietary consulting arm which works across all four customer segments globally, enables financial institutions...

(Reuters)
The evolution and implementation of market data by Reuters has been phenomenal in the growth of the information relay and transposition of the data throughout the quoting agencies such as Quotron and Micronisis. Reuters believes in fair and reasonable access to last-sale and quotation information. Each exchange continues to provide last sale and best bid, best offer and aggregate size information ("BBO") to market data vendors (or plan processors) on fair and reasonable terms and on a non-discriminatory basis. It also aims for the integrity of market information. Any entity responsible for collecting, processing, or distributing last sale and BBO information - be it an exclusive processor or other market data vendor - must have sufficient operational capability to perform these functions in a timely, accurate, and reliable manner so as to ensure the highest quality and integrity of market information. Reuters give non-SROs a voice. Reuters believes non-SROs - such as electronic communications networks ("ECNs"), alternative trading systems ("ATSs"), market makers, specialists, other broker-dealers, investors, and market data vendors - should have a voice in the operation of any plan, bearing in mind, however, that it is inconsistent with Section 11A (a)(3)(B) of the Exchange Act, to allow non-SROs to participate directly in NMS plan governance. Reuters believes that appropriately constituted advisory committees would provide an excellent forum for non-SROs to offer their views. Reuters envisions that such advisory committees would be afforded the opportunity to comment on all aspects of the plan.

References

Mangan, Bill, Billing Automation in the Financial Market Data Industry, the Software and Information Industry Association, February 2, 2002.

Pub. L. No. 94-29, 89 Stat. 97 (June 4, 1975).

Exchange Act Release No. 43863 (January 19, 2001) ("SuperMontage Approval Order").

Reuters, Reuters.com, World Wide Wed, Accessed February 24, 2002.

Regulation of Market Information Fees and Revenues, Exchange Act Release No. 42208 (December 10, 1999) ("SEC Market Data Concept Release.") www.fisd.net/news/sec_nasdaq022101sub.pdf