Introduction to the Thomson Reuters EU Commitment : Extended RIC License (ERL) . Prior to the ERL .
Extended RIC License
Many financial institutions have been aware for sometime that switching to an alternative market data vendor could provide them with big savings on their market data costs but it involved re-engineering their downstream applications to switch to a new symbology; which in turn meant significant cost and effort.And so they stayed with the same vendor, year after year, because a switch just wasn’t economically viable.
Until now …
The introduction of the ERL allows existing TR real time data feed customers to use the RIC to subscribe to other market data vendors data feeds, enabling them to switch to other consolidated-feed data vendors without any re-coding or re-configuration of their subscribing applications. It provides the ability to achieve significant cost savings without incurring prohibitive project costs or disruption to trading operations.