Eikon reaches 'tipping point'

The decision to withdraw 3000 Xtra reflects management thinking that Eikon, after faltering progress since its launch two years ago, is now ready for prime time, according to Reference Data Review, which monitors IT developments in financial markets.

The decision to halt sales of 3000 Xtra was not a sudden one, according to Peter Moss, managing director of the new trading group at Thomson Reuters financial & risk division. “We’ve been working over the past six to 18 months to build the momentum behind Eikon,” he says. “We felt we had got to the point where the balance tipped and we could focus on Eikon solely in the premium desktop space.” In a memo to sales teams last week, Moss and investors group head Neil Masterson said: “We’re delighted that customers now see Thomson Reuters Eikon as a compelling desktop platform with rich functionality and data coverage.”

They said that since the start of 2012, 89 per cent of desktop sales to new clients were for Eikon, vs 11 per cent for Reuters 3000 Xtra. “To reflect this shift and actively support efforts to upgrade customers to Eikon as soon as possible, Reuters 3000 Xtra will be withdrawn from sale to new customers as of July 31, 2012. It will still be available to existing customers.”

Moss said it was too early to talk about an obsolescence plan for 3000 Xtra. “There is still a sizeable population out there. We are talking to everybody about Eikon, but people don’t have to roll over; they can move at their own pace. This won’t be a forced push.” ■