As information becomes the most powerful global currency, the boundaries between traditional sources of knowledge begin to disappear. The first flickers of insight can come from anywhere: a tweet about a takeover rumor; a blog post revealing a data breach; social media chatter about a regime that has to change.
And even as the sea of information grows exponentially, people expect to tap into it from wherever they happen to be, whether they’re out in the streets, rushing through a crowded airport, or crossing a hotel lobby in London or Mumbai. Professionals who have to make fast, informed judgments still depend on in-depth news and analysis – but they also want instant connections to specialized expertise half a world away. They need to scan social networks and spot something meaningful in the buzz. And they’re looking for tools to help gauge the prevailing mood online and predict where it may be heading.
At Thomson Reuters, this emerging reality is reflected in every dimension of our business. We build on our long history of innovation to meet the needs of customers whose priorities are changing as rapidly as the world around them. From standard-setting news and financial information services, to data-rich tax and accounting solutions, to acclaimed research tools for scientists and the legal profession, we support today’s decision makers with what they need most: global information platforms that are faster, simpler and more connected.
The latest release of the Thomson Reuters Eikon desktop delivers the financial information, exclusive news and intuitive analytics that our customers worldwide have come to expect – along with an array of new capabilities, including a unique application for social media analysis. Eikon users can now track activity in real time across Twitter and StockTwits (a social network for the financial community) by analyzing the sentiment behind the tweets.
To stay fully connected to the world, traders and investment professionals no longer have to rely on their smartphones instead of their terminals to access Twitter. From the intuitive Eikon desktop, they can click on a stock or commodity symbol and immediately see a corresponding social media feed, including up-to-the-minute analysis of the prevailing mood. They can also follow relevant news stories and gauge sentiment in that channel, too – using an innovative Eikon capability based on Thomson Reuters News Analytics, one of the industry’s most advanced services for selecting and systematically analyzing editorial content.
Of course, people who follow fast-moving markets tend to be on the move themselves. So among the more than 400 enhancements and additional features built into Eikon over the past year is a mobile capability that extends users’ intelligent desktops to their tablets and smartphones as well. Whether searching for fast, relevant information or crunching the data using integrated analysis tools, financial professionals can stay on top of breaking news and emerging trends wherever they happen to be – in a world that doesn’t wait for stragglers to catch up. As one customer told us when the latest release of Eikon was launched in February 2014: “Everything before this feels prehistoric.”
During the past year, Thomson Reuters Eikon users constantly took advantage of our integrated instant messaging system to exchange information, offer advice and share ideas – some 2.3 billion times. Secure, reliable and easy to use, Eikon Messenger plays a critical role in creating more open and connected financial markets.
Around the clock, approximately 210,000 financial professionals and market participants can use Eikon Messenger to share real-time data, graphics, news and analysis – both from their desktops and via their mobile devices. They can also participate in a wide range of market-specific forums, discussing current trends and future prospects with industry experts.
What makes such innovations possible is a powerful open platform that serves in effect as the operating system for global financial markets. One half of the platform is Eikon, which provides a flexible window on market performance. The other half is the crucial infrastructure powering that performance: Thomson Reuters Elektron, a suite of trading and data solutions that includes real-time feeds, an enterprise platform, analytics, transactional connectivity and managed services.
The Eikon/Elektron powerhouse continues to evolve. In the coming year, we plan to offer our customers and partners more support than ever in applications development, opening up our data feed so they can build custom analytical and trading tools to fit their unique needs. As Thomson Reuters pursues its vision of becoming a true global platform provider, we’re bringing new levels of speed, simplicity and connectivity to the financial world.
Roy Thomson (top), later Lord Thomson of Fleet, and Paul Julius Reuter showed a similar entrepreneurial spirit in their search for new ways to connect people with information.
Roy Thomson, the Toronto-born son of a telegraph operator, tried his hand at a variety of jobs after the First World War before becoming a radio salesman and then the owner of a fledgling radio station in northern Ontario. In 1934, the young entrepreneur bought his first small-town newspaper, the Timmins Daily Press – and over the next four decades he built a publishing empire that ultimately included The Times of London. His legacy was The Thomson Corporation, a multinational media and information services company that provided the foundation for today’s Thomson Reuters.
The same kind of entrepreneurial vision inspired Paul Julius Reuter half a century earlier. In 1851, Reuter arrived in London from the German city of Aachen, where he had launched a news and stock price information service using the newly established telegraph network – and, in places where the cables didn’t yet reach, a fleet of more than 200 carrier pigeons. The Reuters reputation was already clear, as the new company combined the latest technology and innovative thinking to deliver information with unrivaled speed, accuracy, integrity and impartiality.
When Abraham Lincoln was shot on April 14, 1865, it took 12 days for word to reach Europe. At that point, with the first reliable transatlantic telegraph cable still a year away, news traveled across the ocean on mail steamers bound for Britain. They were met off the Irish coast by smaller vessels that retrieved information packages tossed into the sea, then raced back to send bulletins via the telegraph office in Cork. It was a cumbersome but effective way to reach a European audience hungry for news from America – until Paul Julius Reuter found a solution that was even quicker.
Reuter, the German-born entrepreneur who 14 years earlier had brought his pioneering news service to Britain, extended a private telegraph line from Cork to Crookhaven, 80 miles further along Ireland’s southwest coast. Sending his own boats out to intercept the mail ships, he gained a five-hour lead over his rivals in cabling the latest updates to London – including the story of Lincoln’s shooting. Not surprisingly, when the tragic news of the assassination broke, European financial markets were thrown into turmoil. But reporting of this pivotal event in U.S. history was also a milestone in the evolution of global communications – and an example of the innovative spirit that continues to drive Thomson Reuters today.
In the digital era, news that once took days or weeks to cross an ocean can now circle the globe in a fraction of a second. But for our industry-leading information services, the goal remains the same: to provide the vital data and insights that propel fast-moving markets and give businesses their competitive edge – and to do it before anyone else. What delivers that consistent, accurate information to our financial customers at hyper-speed – across the enterprise, to both machines and end users – is the unique connectivity and technology infrastructure we offer through Thomson Reuters Elektron.
Day and night, algorithms are scanning and analyzing vast amounts of data from around the globe for the earliest signs of a meaningful market event. For traders and other financial decision makers, the relentless quest for “first-mover” advantage comes down to a virtual staring contest between digital equations; a single blink could cost millions. This is the high-stakes context in which we’ve continued to refine data transmission speeds on the Thomson Reuters network. Combining Elektron’s advanced technology with optimized real-time feeds from exchanges, trading venues and liquidity pools worldwide, we’ve further reduced end-to-end delivery time to just a few milliseconds. In one hundredth of the blink of an eye, our customers can receive the breadth and depth of information they need to make fast, smart decisions.
With any high-performance technology, the key is to reduce latency as close as possible to zero and let our customers focus on what really matters: making the right moves based on the best available information. Because if a market is moving at lightning speed, you need to understand what’s fueling it.
For more than 160 years, Reuters has consistently been a leader with the news that counts. We’ve earned the trust of demanding readers around the globe for both our speed of delivery and, even more crucially, the quality of our content. Today millions of professionals rely on our rigorous, accurate reporting as they make critical business decisions, craft longer-term strategies – and simply make sense of the world.
As the world’s largest independent news organization, Reuters combines journalistic acumen with unmatched contacts to remain a consistent leader in breaking significant news. In May 2013, for example, a Reuters exclusive reported that President Ollanta Humala of Peru, after pushback from global mining companies, would water down his historic reforms extending indigenous land rights. In October we broke the news that former Italian Prime Minister Silvio Berlusconi would not succeed in his plan to topple the coalition government of Enrico Letta. And in December Reuters revealed that Mexican lawmakers had agreed in principle on a draft energy reform bill which would end the decades-long oil and gas monopoly of state-owned Pemex.
Other business news highlights from 2013 included a series of exclusive stories through the summer on Verizon’s debt financing – combining the largest bond issue and the richest loan in history – followed by a scoop on the carrier’s $100 billion bid to regain full control of Verizon Wireless from Vodafone. Reuters also broke the news that BlackBerry’s CEO and board were warming up to the idea of taking the troubled manufacturer private in order to gain some breathing room; after our story was published, the company’s share price jumped by 9 percent. And we led the way on one of the biggest currency market stories of the year, reporting that internal reviews by banks in Singapore had found evidence of collusion among traders to manipulate rates in the offshore foreign exchange market.
Round the clock, in every part of the globe, Reuters journalists are working to uncover the most critical news stories and deliver them to our customers’ desktops and mobile devices faster than anyone else. Because we know that having the right information at the right time makes all the difference – in a world that moves faster every day.
By the mid-1980s, Computer Language Research, Inc. was a leader in automated tax processing. Today, Thomson Reuters tax and accounting solutions bring more power than ever to clients’ desktops.
As a leader in tax compliance automation, Thomson Reuters draws on a 50-year history of innovation that began at Texas-based Computer Language Research, Inc. in 1964. Guided by founder Francis W. Winn, the privately held company was the first to offer mainframe processing of individual income tax returns, providing overnight turnaround service for the U.S. Form 1040 beginning in 1965. Subsequently adopting the brand name Fast-Tax, the company steadily built its reputation in the tax processing industry and in 1987 launched a pioneering software product for accounting firms. Branded GoSystem, the program made it possible to automate in-house processing of individual federal tax returns by removing any dependency on mainframe computers.
Industry-leading innovation continues to drive our tax and accounting business, which combines trusted expertise and progressive technology to create comprehensive solutions for corporations, governments, accounting firms and financial institutions.
The catalyst for breakthrough pharmaceutical research is often frustration. A scientist studying, for example, chronic obstructive pulmonary disease (COPD), will see someone struggling for breath – a baby in her crib, an old man slumped over his walker – and ask, “Is this really the best we can do?” In fact, such impatience can drive important new discoveries – a refinement that makes the best available drugs even better, or a way to prevent some form of pulmonary disease from ever taking hold in the first place.
There’s another kind of frustration, however, that doesn’t spark inspired work in the lab. A gifted researcher may spend countless hours sitting at a computer, trying to determine who is doing what research, which clinical trials are achieving the best results, and where would be the most worthwhile areas to focus attention. In a vast sea of constantly changing information, it can take half a day to find something that should be searchable in half a minute. And even when an answer appears, there is always the fear of missing something obvious – a hopeful new direction, a needless duplication of effort – just beyond the immediate line of sight.
For any pharmaceutical researcher who has ever felt this kind of frustration – over the elusiveness of a cure, or the obstacles to even seeing where a cure may lie – the world’s leading information company has some powerful solutions.
As a starting point, Thomson Reuters Cortellis offers a wealth of timely, accurate information in the life sciences, along with tools that can quickly unlock valuable insights. Cortellis for Competitive Intelligence and Cortellis Clinical Trials are unique analytics platforms that sift through large volumes of documents – drug pipeline data, FDA submissions, clinical trials, conference presentations, meeting notes and press releases – to determine which companies and therapies are emerging leaders, and to check the current status of clinical trials in progress. Returning to our example, a scientist using Cortellis to scan recent research activity around COPD therapies will find a shift toward preventative treatments, with five distinct classes of drugs currently in development by major pharmaceutical companies.
More than 50 million people worldwide are believed to be suffering from some form of chronic obstructive pulmonary disease (COPD). This progressive condition, which includes emphysema and chronic bronchitis, is most closely linked to cigarette smoking, but other risk factors include long-term exposure to air pollution, workplace dust and fumes, and childhood respiratory infections.
COPD is currently the third leading cause of death in the U.S. Globally, it’s predicted that by 2020 the disease will be responsible for more than six million deaths a year. And as the number of diagnosed cases steadily grows, so does the burden of healthcare costs. The Centers for Disease Control and Prevention estimate that in the U.S. alone, the annual cost of COPD treatment is $37 billion.
When a disease has such devastating impact, professionals must grapple with a daunting volume of information in identifying research, investment and strategic planning priorities. Thomson Reuters knowledge solutions – in life sciences, intellectual property and scientific research – yield the vital insights that drive clear, effective decision making.
To further validate this trend, our scientist – or a research director at a pharmaceutical company, or an investment professional hoping to see where the next opportunities lie – can once again turn to Thomson Reuters. A search of our proprietary intellectual property solutions, Thomson Innovation and the Derwent World Patents Index, quickly confirms the same shift from condition management to prevention in the focus of COPD-related patents. Specifically, there are well over 100 patents pending on preventative treatments involving the p38 kinase inhibitor, although so far (as of the publication of this review) only one drug is in development.
As for the other four drug classes, while they show far less patent activity, it doesn’t necessarily mean that these alternatives are being neglected. For a more complete picture, researchers can use Thomson Reuters Web of Science, a search and discovery platform for scientific and scholarly research, to identify the citation patterns of papers on COPD preventative therapies over the past decade. It’s immediately apparent (from an intuitive graph) that investigative efforts are spiking in several other preventative drug classes, which suggests that more focused treatments will be entering the drug pipeline in the future.
Armed with Thomson Reuters knowledge tools, key players in all areas of the pharmaceutical sector can identify promising market niches and optimize their investments. At the same time, as the insights generated by our solutions are shared via conferences and publications, frontline medical practitioners can begin altering their approaches, discussing risk factors with patients and staying alert to emerging preventative treatments. And in the world’s labs, researchers can better gauge where to direct their energies – and potential funding – within a clearly defined landscape of investigation and development.
In the long, complex process through which a promising hypothesis becomes a proven treatment, Thomson Reuters provides the essential information tools that professionals need to identify priorities, allocate resources, mobilize efforts – and help everyone breathe a little easier.
Dr. Eugene Garfield, a linguist by training, published the pioneering Science Citation Index in 1964, paving the way for Web of Science and other Thomson Reuters solutions that simplify information gathering on scholarly and scientific research.
In 1955, Dr. Eugene Garfield published an article in Science magazine outlining his concept of citation indexing, which would make a vast body of scientific research far easier to access and search. Two years later he founded the Institute for Scientific Information (ISI) in Philadelphia, which in 1964 published the Science Citation Index – a compendium of two million citations cross-referencing findings in 562 scholarly journals. That groundbreaking work lives on in Web of Science – which celebrates its 50th anniversary in 2014 – as well as other Thomson Reuters products and services designed to simplify scholarly and scientific research.
Our intellectual property portfolio is similarly grounded in a tradition of innovation: In 1963, pharmaceutical researcher Montagu Hyams began selling weekly patent bulletins from his home in London. A decade later, his Derwent World Patents Index was embraced globally as the authoritative resource for patent information. Today the index contains more than 51 million patent records, each editorially curated by a team of subject-matter experts. Accessible online, it provides unparalleled access to vital information for researchers and product developers on the forefront of innovation.
Whenever people come together in significant numbers, they face some measure of risk. This is especially true of major sports and entertainment events, from the Super Bowl and the FIFA World Cup to music festivals and awards ceremonies. These landmark gatherings attract large crowds and even larger television and online audiences. They’re also economic engines, generating millions in ticket sales and advertising revenues – and, more significantly, boosting local economies through increased tourism, spending on goods and services, and investments in infrastructure.
It’s at this local level that landmark sports and entertainment events gain dimensions not typically covered in the general media blitz. First, any large public gathering is inevitably a potential target for terrorist attacks – a sad fact underlined by incidents such as the Boston Marathon bombing in 2013. And second, high-profile events are unwitting magnets for a wide range of criminal activity, from illegal gambling to drug dealing to prostitution. Of particular concern in recent years has been the rise of human trafficking for the purposes of sexual exploitation – a global problem that has grown rapidly with the proliferation of social media, digital currency and other technologies that allow traffickers to remain anonymous and elusive.
These are the challenges that face law enforcement officials from the day a major event is announced. They must be vigilant in spotting the first signs of a threat, which these days means searching for links among vast, disparate, often fragmented sources of data. And they have to meet the ultimate measure of success: an event that unfolds without a hitch. To help deliver this level of undisturbed public safety, security professionals are turning to a whole new array of investigative tools – including a suite of analytical tools from Thomson Reuters designed to detect and prevent potential threats, which was launched in late January 2014 to prepare for Super Bowl XLVIII.
The evolution of the Super Bowl project dates back to the fall of 2012, when Thomson Reuters representatives met with security officials at the National Football League (NFL) about a new platform for analyzing widely dispersed digital information to identify security threats and signs of criminal activity. Over the next year, the league continued its preparations for Super Bowl XLVIII at MetLife Stadium in East Rutherford, New Jersey, just outside New York City. At the same time, our threat detection team – which includes former investigators with the FBI and other agencies – began developing sophisticated search algorithms that could connect and comb through hundreds of data sources, including public records and social media, as well as our Reuters news and business information databases.
In December 2013, the NFL hosted a demonstration of the threat detection suite for the New Jersey State Police, the lead law enforcement agency in a coordinated intelligence-gathering initiative centered on the championship game. Following that successful meeting, Thomson Reuters entered into a public-private partnership with the NFL and the police force, who asked that we further refine our platform to focus on counterterrorism, dignitary protection and human trafficking.
The Thomson Reuters suite delivers the most comprehensive analysis available across such a wide range of data sets. Our powerful tools scan millions of pieces of information in seconds, analyzing content to look for meaningful connections and then scoring them for relevance. The final output is a list linking high-potential threats to individuals or groups who warrant further investigation.
Cross-border transfers of funds that don’t fit a declared business purpose. Regular commercial transactions taking place outside business hours. A high number of individual bank accounts opening and closing at the same time. These are just a few examples of what financial institutions consider suspicious customer behavior. Often they point to some form of illegal activity. And in recent years, the money trail has often led to one of the fastest-growing global crimes: human trafficking.
To spot the warning signs early, key players must have access to the right technology. That’s why in April 2013 the Thomson Reuters Foundation, in collaboration with the Manhattan District Attorney and some of the world’s leading financial institutions, launched a working group to fight human trafficking. The group arose directly from actions taken at Trust Women, the Foundation’s annual conference dedicated to grounding women’s rights in the rule of law. Participants include American Express, Bank of America, Barclays, Citigroup, JPMorgan Chase, Tau Investment Management, TD Bank, Wells Fargo and Western Union, as well as U.S. Immigration and Customs Enforcement, and the Human Trafficking Pro Bono Legal Center.
In December 2013, the working group released a white paper detailing investigative guidelines and identifying customer and transaction patterns that signal a higher risk of human trafficking activity. Widely distributed by the Thomson Reuters Foundation to financial institutions and law enforcement agencies, both in the U.S. and internationally, the paper underlines the crucial importance of collaboration.
“Any attempt to take on human trafficking successfully must include concerted efforts among financial institutions, prosecutors and NGOs active in the field,” explains Monique Villa, CEO of the Thomson Reuters Foundation. “Data is the ultimate tool in the global fight against human trafficking. If you follow the data, you can get to the criminal organizations behind it.”
In the days leading up to Super Bowl Sunday on February 2, the Thomson Reuters team contributed to the overall intelligence-gathering effort, working alongside law enforcement officials in a mobile command post outside MetLife Stadium. Using the threat detection platform, our analysts were able to provide valuable information in support of several criminal investigations and helped to ensure a safer experience at the game venue and throughout the surrounding community.
When the final whistle blew to end Super Bowl XLVIII, media coverage focused on the decisive 43–8 victory by the Seattle Seahawks over the Denver Broncos – and nothing more. “Our success was evident from the stories you didn’t read about in the news the next day,” says Steve Rubley, managing director of the Government segment at Thomson Reuters. “Thanks to our combined efforts, crime was thwarted and lives may have been saved.”
With the formal launch of our threat detection suite in April 2014, Thomson Reuters has set a new standard for data-driven public security solutions. We’re reviewing its proven benefits with organizers of national and global events based in the U.S. and will ultimately be marketing the platform worldwide. At the same time, this innovation reinforces what all of our platforms have in common: the ability to make connections, quickly and easily, among diverse sources of data, and to unlock the insights that professionals in every field count on to identify risks and make the right choices.
John B. West first published The Syllabi in 1876, bringing the latest judicial decisions to Minnesota judges and lawyers 50 times faster than was previously possible – and establishing a key building block of modern legal practice. His innovative legacy lives on in Westlaw, KeyCite and other products and services in the Thomson Reuters legal portfolio.
When John B. West launched the North Western Reporter in 1879, providing timely, accurate reporting of judicial decisions in what is now the north central U.S., it was the first in a series of building blocks that helped shape the modern practice of law. Soon the National Reporter System had extended its coverage to all state, circuit and appellate courts, as well as the U.S. Supreme Court, enabling practitioners across the country to connect their work to an emerging body of legal opinion.
Today the National Reporter System, with its insightful attorney-authored legal analyses, forms the heart of Westlaw and KeyCite, two essential products in the Thomson Reuters legal portfolio. It also provides the metadata for the WestlawNext legal research system, launched in 2010, which combines more than 140 years of information and analysis with a powerful array of artificial intelligence, graphical search and automated workflow tools. In independent surveys of lawyers conducted annually by the American Bar Association, Westlaw is consistently shown to be preferred almost twice as much as any other provider. It’s the innovative cornerstone of a comprehensive product and service offering designed to keep legal professionals better informed and better connected.
The world cannot wait. That’s the challenge faced by Thomson Reuters customers on every continent, in every sector and profession. And like our customers, we are aggressively pursuing the opportunities presented by such a complex, demanding and constantly changing world.
In the new global marketplace, mobile communications have erased the traditional boundaries of place and time. The interconnections of big data are expanding the scope of what can be known and acted upon. International commerce has moved beyond well-worn paths, flowing in new directions between regional hubs. Mirroring that evolution, regulatory frameworks have become vastly more complex and demanding, with little coordination among regions. And, in a familiar pattern, the sheer volume of information grows exponentially from year to year.
This is a world in which Thomson Reuters is ideally positioned to thrive. With roots that stretch back over a century in more than 100 countries, our company has deep regional connections and expertise. At the same time, we’re constantly extending and strengthening our connectivity to support platforms that we design and implement on a global scale.
Across the planet, we deliver accurate, up-to-the-millisecond news and financial information to decision makers who must have the right data at their fingertips. We provide comprehensive knowledge-sharing and research tools to professionals in fields ranging from science and pharmaceuticals to law, accounting and finance. And we ground all areas of our enterprise in disciplined expertise backed by industry-leading technological innovation.
Above all, our established and emerging platforms are built on the trust that we work to earn each day, everywhere Thomson Reuters does business. We’re trusted for the decisions that matter most, empowering customers to act with confidence in a complex world.
This is the world that cannot wait – and it won’t have to.