Reuters, Capco Team up on STP Initiative

October 9, 2001 ( - News and information group, Reuters and Capco, a technology solutions provider, have formed a joint venture to develop a software range focusing on assisting financial institutions in enhancing straight-through transaction processing.

Both Reuters and Capco will invest £16 million in the partnership and will appoint three directors to the new venture’s board.

The new company aims to develop products and services that will complement the existing range of Reuters Data Management Solutions, addressing areas such as data cleansing and failed trades, as the financial services industry moves towards T+1.

Capco will license its e-STP software platform to the new venture and provide consulting and software development services, while Reuters will sell the range of services developed by the new company and provide global customer support.