Reuters and Microsoft link

From: Jay Gooby (
Date: Fri Mar 23 2001 - 05:21:29 PST

Think we'll be hearing a .net announcement a day for the next few months??

Reuters and Microsoft link
By Ashling O'Connor, Media Correspondent
Published: March 22 2001 13:58GMT | Last Updated: March 23 2001 08:08GMT

Reuters, the business information group, on Thursday fired a shot across
the bows of rival Bloomberg as it announced a tie-up with software giant
Microsoft to develop an instant messaging service for the financial
services industry.

Tom Glocer, chief executive designate, said there was a significant
"competitive component" to the venture, which would provide financial
institutions with a non-proprietory, secure way of sending time-sensitive
information internally and to their database of clients.

The service will allow users to message contacts via any PC or hand-held
device, creating a "buddy list" system for traders and other financial
professionals. It is designed to overcome problems caused by delays to
internal email and the rigorous firewall systems used by many banks.

Mr Glocer said he expected Reuters.Net Messaging to win clients for
Reuters' core trading solutions service. Many companies continue to use
Bloomberg's rival terminal because of its popular "screen topping" instant
messaging feature, he said.

"There is a view on the street that despite the many fine qualities of the
Bloomberg box, it is closed and overly proprietorial," he said. "We are in
the business of making it easier for people to switch."

Reuters.Net Messaging will be trialled with 25 financial institutions over
the summer and rolled out towards the end of the year.

The service is the first major strategic initiative publicly driven by Mr
Glocer, former head of Reuters Information who will succeed Peter Job in

However, Mr Glocer's involvement dates back a few years when he decided
Reuters should abandon its plans to develop Reutersmail, its own
proprietory messaging system similar to that of Bloomberg.

Reuters.Net Messaging is a further step in Reuters' overall move to
transfer its core businesses to the internet. It is also part of
Microsoft's recently announced .Net strategy.

Separately, Mr Glocer said the market downturn had not hit revenue
forecasts. He said Reuters was picking up customers from rival Bridge
Information Systems, which has filed for involuntary Chapter 11.

"Obviously from an overall point of view, the pie in 2001 is not growing
quite as fast as it did in 2000," he told CNBC television.

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