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Clients see Thomson Reuters as 'early innovator who fell behind'

Thomson Reuters has set up a task force aimed at regaining the company's position in sell-side trading "where significant numbers of customers see us as an early innovator who fell behind", financial & risk division chief David Craig told staff on Monday.

“In listening to our customers, it’s clear they want Thomson Reuters to succeed. They want to do business with us and reduce their dependency on our competitors. They like our approach, the choice and the openness we offer. But we must first earn their confidence and their business by better understanding them and how they use our products, as well as what they value most,” he said.

“This requires us to constantly innovate – particularly on the sell-side where significant numbers of customers see us as an early innovator who fell behind. It’s an urgent priority for many of them that we regain Thomson Reuters position in trading, re-establishing a strong presence in trading communities across the buy- to sell-side and across multiple asset classes.

“I’ve seen more feedback on this topic than anything else in recent weeks, both from our customers and our employees, and I want you and our clients to know that we are listening.”

Craig announced a special nine-person collaboration & trading community task force that he would chair, working closely with clients on this key priority. Its primary focus would be to create a single, consistent commercial platform that allows the company to effectively support collaboration within key financial communities across all sectors. ■