UK investment bank Cazenove has selected the latest version of Reuters 3000 Xtra for over 200 of its staff, displacing a number of screens from rival supplier Bloomberg in the process.
The upgrade comes as part of a move by Cazenove from its current location at Tokenhouse Yard to a new trading floor at Moorgate, London. The independent investment bank has looked to cut market data costs by tailoring information delivery to user desks. Cazenove is understood to have cancelled subscribtions to some 40 Bloomberg terminals as part of this review process.
The latest version of Reuters 3000 Xtra will be used throughout the company but the main focus will be in the equities, corporate finance and capital markets departments, with modules allocated according to business information requirements.
The new deal sees Reuters become Cazenove's principal supplier of financial information.
John Alcantara, senior country officer, UK and Ireland, Reuters comments: "Increasingly we are working with customers to provide an overall solution that fits with a number of different requirements. This flexibility of approach as well as the quality of the product is resulting in a number of successes against the competition."