The European Central Bank (ECB) has agreed to roll out Thomson Reuters’ Eikon data platform across its organisation, as well as a number of national central banks.
The three year deal will see the ECB and national central banks from 18 memeber states use Thomson Reuters’ data platform, with Deutsche Bundesbank and Central Bank of Ireland among those implementing Eikon.
The deal is the largest market data purchasing initiative put in place by the Eurosystem Procurement Coordination Office (EPCO), set up to drive cost efficiencies by creating joint procurement frameworks for the ECB and EU member states.
Mora Golding, ECB market data management , said that Eikon will aid collaboration and help cut costs throughout the ECB and national central banks.
“The European Central Bank is always looking for ways to improve access to market information, encourage collaboration and increase cost efficiencies for its members,” Golding said.
“We appreciate Thomson Reuters Eikon as a powerful financial markets desktop that makes it easy for our users to find and analyse the information they need and connect with their peers, both at their desk and through mobile devices.”
Peter Moss, managing director of trading at Thomson Reuters commented that Eikon is gaining ground with customers.
“Thomson Reuters is incredibly proud to form this long-term partnership with the European Central Bank in order to roll-out Eikon desktops across many of Europe’s central banks,” he said.
“We are getting great feedback from our customers regarding usability and performance in Eikon as well as excitement around innovations we are making in areas such as search and visualisation.
“Our customers recognise how simple we have made it to navigate and analyse the unrivalled depth of content we have which alongside key social tools and advanced analytics makes for a very powerful one-stop solution.”
Following a slow start, the Eikon platform has begun to increase uptake, with 30,000 systems now installed.
Thomson Reuters president and CEO Jim Smith commented recently that the introduction of new features has helped win over customers to the data platform, which will replace the company’s legacy systems. The third version of Eikon was released in February, focusing on providing users with a consumer style interface, with upgraded search capabilities.