Reuters bullish on risk systems sales

- Christopher Jeffery
- 16 Oct 2002

“Looking ahead, we see market conditions worsening as financial services firms retrench still further,” said Reuters chief executive Tom Glocer in a statement released today. “[But] longer-term trends for treasury solutions sales are more positive with customers under pressure to improve their risk and credit management systems – areas where Reuters continues to invest,” the statement added.

Reuters said usage revenue from treasury broking services was up 5% due to increased volatility in foreign exchange markets, which drove an upturn activity in spot and forward matching.

But revenues from high-tier information products such as 3000 Xtra fell 4%, with access numbers down 12%.

Group revenues fell 7% during the third quarter to £855 million and prompted Reuters’ share price to tumble 18%.

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