HOME

TheInfoList



OR:

Refinitiv is an American-British global provider of financial market data and infrastructure. The company was founded in 2018. It is a subsidiary of London Stock Exchange Group after a US$27 billion sale from previous owners
Blackstone Group Blackstone Inc. is an American alternative investment management company based in New York City. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate bu ...
LP which held a 55% stake and
Thomson Reuters Thomson Reuters Corporation ( ) is a Canadian multinational media conglomerate. The company was founded in Toronto, Ontario, Canada, where it is headquartered at the Bay Adelaide Centre. Thomson Reuters was created by the Thomson Corp ...
which owned 45%. The company has an annual turnover of $6 billion with more than 40,000 client companies in 190 countries.


History

Refinitiv's predecessors include
Thomson Financial 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 Market ...
. Thomson Reuters sold a 55% majority stake in its Financial & Risk (F&R) unit to
private equity In the field of finance, the term private equity (PE) refers to investment funds, usually limited partnerships (LP), which buy and restructure financially weak companies that produce goods and provide services. A private-equity fund is both a t ...
firm Blackstone Group LP on October 1, 2018, in a deal which valued the total F&R business at about $20 billion. This business was formed into Refinitiv. Under the deal, Thomson Reuters transferred its complete financial and risk product portfolio to Refinitiv, with the exception of Regulatory Intelligence, Risk Compliance Learning and Data Privacy Advisory Services. Company CEO David Craig presided over the transfer from Thomson Reuters, which he joined as Group Strategy Director in 2007. British-born Craig's previous role was a partner at US-based global management consulting firm
McKinsey & Company McKinsey & Company is a global management consulting firm founded in 1926 by University of Chicago professor James O. McKinsey, that offers professional services to corporations, governments, and other organizations. McKinsey is the oldest and ...
. In August 2019, London Stock Exchange Group (LSEG) agreed to buy Refinitiv in an all-share transaction valuing the company at $27 billion. LSEG expected to receive regulatory approval to close the transaction in the first quarter of 2021. It was finally awarded such approval by EU regulators in January 2021. In March 2020, Refintiv announced the purchase of software-as-services firm Scivantage for an undisclosed amount. Refinitiv acquired Advisor software in July 2020 and Red Flag Group in October 2020.


Censorship in China

Under pressure from the government of China, Refinitiv censored over 200 stories by
Reuters Reuters ( ) is a news agency owned by Thomson Reuters Corporation. It employs around 2,500 journalists and 600 photojournalists in about 200 locations worldwide. Reuters is one of the largest news agencies in the world. The agency was est ...
covering the 2019–20 Hong Kong protests, removing them from its Eikon platform for consumers in Mainland China. The company developed a "Strategic China filter" to block politically-sensitive stories from readers in Mainland China.


Operations

Refinitiv runs more than 130 fintech data, analytics, trading, and risk assessment tools including World-Check, a risk intelligence database for financial crime legislation compliance, FXall, Eikon, the execution management system REDI, Datastream for macro-economic analysis, Quantitative Analytics on the Cloud, AutoAudit and the Elektron Data Platform, creating 32,000 risk intelligence records every month from internal and third-party sources. Another, the World-Check Risk Intelligence database, compiles information from international financial watch lists, government records, and media searches to tackle
money laundering Money laundering is the process of concealing the origin of money, obtained from illicit activities such as drug trafficking, corruption, embezzlement or gambling, by converting it into a legitimate source. It is a crime in many jurisdicti ...
. Refinitiv also maintains a database featuring more than a million
mergers and acquisitions Mergers and acquisitions (M&A) are business transactions in which the ownership of companies, other business organizations, or their operating units are transferred to or consolidated with another company or business organization. As an aspec ...
(M&A) deals spanning over 40 years, covering corporate finance transactions and investment banking league tables across equity markets, debt, loans, bonds, project finance,
initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investme ...
s (IPOs), joint ventures, repurchases, private equity and municipal bonds. Although Thomson Reuters used to be a minority shareholder in Refinitiv, it supplies
Reuters Reuters ( ) is a news agency owned by Thomson Reuters Corporation. It employs around 2,500 journalists and 600 photojournalists in about 200 locations worldwide. Reuters is one of the largest news agencies in the world. The agency was est ...
news and content to the company's 400,000 plus customers in more than 40,000 businesses around the world, supported by a network of at least 13,000 registered developers. The company's innovation group, branded as Refinitiv Labs is tasked with taking the lead in exploring new directions and creating new capabilities, derived from part of Thomson Reuters Labs, initially with sites in London, New York, Singapore, San Francisco and Cape Town (later the Cape Town site was closed and the San Francisco site moved to another part of the organization). It consists of engineering, user experience (UX)/design thinking, research, data science and management functions. Refinitiv's Developer Portal includes data feeds, SDKs and APIs, documentation, sample code, learning materials and community Q & A forums. These run alongside "developer days" in regional centers on topics including
machine learning Machine learning (ML) is a field of inquiry devoted to understanding and building methods that 'learn', that is, methods that leverage data to improve performance on some set of tasks. It is seen as a part of artificial intelligence. Machine ...
, cloud services and relevant legislation such as GDPR. Refinitiv is the provider of World-Check, a database of Politically Exposed Persons (PEPs) and heightened risk individuals and organizations. And is also a member of the Global Coalition to Fight Financial Crime.https://www.gcffc.org/


See also

Other notable financial data providers include: * Bloomberg L.P. *
S&P Global S&P Global Inc. (prior to April 2016 McGraw Hill Financial, Inc., and prior to 2013 The McGraw–Hill Companies, Inc.) is an American publicly traded corporation headquartered in Manhattan, New York City. Its primary areas of business are financ ...
* FactSet


References

{{Thomson Reuters London Stock Exchange Group Financial technology companies Thomson Reuters Financial services companies based in New York City Financial services companies established in 2018 Companies based in Manhattan American companies established in 2018 American subsidiaries of foreign companies 2018 establishments in New York City 2021 mergers and acquisitions