Thomson Reuters unveils Refinitiv, gives awards to West Africa customers

Thomson Reuters has launched its new brand identity, ‘Refinitiv’ a financial and risk business unit. This was disclosed at the West Africa Excellence Awards organised in Lagos, Nigeria, to appreciate its existing customers who have patronised and contributed to the success of the company. This new brand identity became necessary after the completion of a partnership deal with a consortium of investors led by Blackstone, who now own 55percent of the new business. The standalone business which includes the largest multi-dealer forex platform, with a daily average of $400 billion traded on FXall, FX Trading and Matching-was the outcome of a deal whereby Thomson Reuters sold a 55 percent stake in its Financial and Risk business to private equity firm Blackstone.

Tagged the ‘Excellence Awards’, this award, the first of its kind in West Africa, had six (6) categories through which the customers with remarkable imparts and outstanding performances were rewarded. Described as the ultimate form of recognition of the organisation’s customer excellence, the annual Excellence Awards highlight the great work being done by financial markets participants. Of the six awards, the Peoples’ Choice Award was given priority because attendees had to vote at the venue of event. This award was carted by Mr Ini Ebong of First Bank Nigeria for his respected contributions to the industry. He also got an award of the longest serving customers. Others who emerged winners are Bola Onadele Koko, the MD/CEO FMDQ Securities Exchange who also received two( 2) awards-The Best Partner Award and the Innovation awards for embracing disruption with new ideas; Mrs Ibukun Oyedeji of Ecobank who got the Most Impactful Business Award, and Mr Jacob Brobbey of the Barclays Bank of Ghana who clichéd the Embracing Technology award.

The awards were first held in Southern Africa in 2017 and their success has led to them now also being hosted for the first time in West Africa in 2018. The awards honoured financial markets participants from across West Africa, including Francophone countries, which help to drive growth and efficiency, transparency and deepening financial markets in their respective countries and the region. Managing Director for Africa, Thomson Reuters’ Refinitiv, Sneha Shah, stated, “We are very excited to be bringing the Excellence Awards for the first time in West Africa. What is going to drive the success and growth of our economy is committed individuals and companies that are contributing to strong and stable financial systems and institutions. The inaugural 2018 West Africa Excellence Awards will recognize and highlight the great work of individuals and companies who amongst many outstanding nominees were selected, by the independent judges, as the ones producing the most impact for West Africa’s financial markets.”

Speaking at the event, the Deputy Governor, Economic Policy, Central Bank of Nigeria, Dr Okwu Joseph Nnanna, represented by Dr Alvan Ikoku x-rayed Refinitiv supportiveness to CBN, and to the Nigerian Capital Market. “Thomson Reuters Refinitiv has been a dependable partner of the Central Bank of Nigeria (CBN) and other financial institutions within West Africa sub-region in developing support for financial products and information. In 1999, when the CBN introduced inter-bank foreign exchange system of trading (FEM 2 Way Quote Trading System), Refinitiv rose to the challenge of installing trading terminals and training dealing room staff across, the banking industry to actualise the operation of the new system. This support to the industry is still been sustained till date, and even at a faster and more efficient level. 

Over the years, Refinitiv has developed various products under its information and trading platforms. They have evolved from fiber cables to internet web enabled systems with which users have effectively executed trades in foreign exchange instruments. Refinitiv in collaboration with CBN has developed a market surveillance system called Deal Tracker, a system which allows the CBN to monitor trades being executed on Refinitiv trading terminals in the Nigeria Foreign Exchange market. The CBN will always be an advocate for excellence and we strongly identify with this noble initiative of rewarding individuals and organisations that have excelled in their various areas of expertise”.