Thomson Reuters and Finbourne to Develop Hosted Portfolios

Thomson Reuters has inked a partnership agreement with London-headquartered Finbourne Technology to use Finbourne’s cloud-based advanced investment management platform, LUSID®, for Thomson Reuters client and transaction data. LUSID is an event-based ledger with published APIs that allow in-house and third-party solutions to interface with portfolios, holdings or transactions. The partnership is designed to benefit customers by offering increased cost efficiency, better management of data used for compliance efforts and bolster struggling legacy investment-management systems. It builds on Thomson Reuters open-platform strategy, which seeks to meet customer needs by providing open access to in-house solutions as well as to partnered solutions.

Thomson Reuters clients will use LUSID to manage their portfolios and transactions data as well as benefit from Thomson Reuters comprehensive services like portfolio construction, trade execution, and risk management. LUSID provides a single source of information for portfolio data, using a flexible and secure model for persistence of transaction history and referential data, combined with an efficient calculation and aggregation engine providing access to current and historical positions, valuations and other analytics. The one-of-a-kind system is bi-temporal, allowing users to view the portfolio data as it was at any point in the past.

“Our customers depend on us to provide the insights, data, and advanced technological solutions needed to gain a competitive advantage,” said Pradeep Menon, managing director, global head of Investing & Advisory, Thomson Reuters. “Partners such as Finbourne will help fuel the long-term success of our customers. Our partnership with Finbourne will enable our customers to manage currently disparate capabilities giving them a cloud-based ‘single source of truth’ for all portfolio and transaction data so that any change or update that occurs will be reflected in all products or applications in real-time.”

Dermot Shortt co-­founder of Finbourne said: “Thomson Reuters is a superb partner for FINBOURNE. We share a common vision for the future state of investment management infrastructure, based on interoperability and open platforms. This is the beginning of a new era for our clients.”

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