Thread regarding Refinitiv layoffs

Deutsche Bank will cut 18,000 jobs over three years

Looks like they are exiting “buying and selling of shares” as BBC report it.

Guess this will impact Refinitiv sales and subscriptions ?

https://www.bbc.co.uk/news/business-48901565

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Post ID: @ZVD79J0

4 replies (most recent on top)

As I understand the situation, DB has been a big buyer of data feeds to support their in-house trading activities. From what we have heard about the DB restructuring, the in-house trading activities are to be sharply curtailed. Which means the providers of data feeds will be taking a hit.

The data feed business is big money, fees per month are big relative to the work required to produce the feed. Refin already is collecting the data for its other applications and products, so data feed business should be particularly profitable for them.

I don't know if DB is much of a datafeed client for Refin, but if they are, the termination of their datafeed business when the present contracts expire is sure to punch a hole in the Refin revenues. Not to mention the desktop subscriptions that will be lost, however many those may be. Other companies will feel the same pain, an shareholders of firms that provide data feeds probably will take a bit of a pinch.

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Post ID: @ZVD79J0-9qti

It won't be significant by itself. News to no one except Refinitiv management: Outside of FX, traders don't need or use Eikon as it has no significant trading capabilities (except for the market-limited REDI option, which is basic, not well integrated, and only really serves US customers) and no buy side community. It's stuck in the 1990s (like the management...) as an expensive and clunky (like the management...) proprietary information viewer, long overtaken (like the management...) by even a web browser. Bad news for DB staff for sure, but not by itself material to Refinitiv. Unlike the dependency on an ageing terminal in a shrinking market...

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Post ID: @ZVD79J0-2bpc

Definitely will affect Refin. In fact the worrying trend is that big banks are cutting back on equities. Corporate bonds are a HUGE market and that seems to be our blindspot.

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Post ID: @ZVD79J0-1val

Serious matter, it is going to impact us significantly since a good amount of these 18K are traders!

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Post ID: @ZVD79J0-1juv

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