The Reuters instrument code, or RIC , is a code like ticker used by Thomson Reuters to identify financial instruments and indexes. This code is used to search information on Thomson Reuters financial information networks (such as Bridge and RMDS) and appears to have been developed from the Quotron service they purchased in the 1980s.
Video Reuters Instrument Code
Description
The Reuters instrument code (RIC) was originally defined by Herbie Skeete, the Reuters Executive who wrote the original product specifications for the first product in Reuters's Integrated Data Network (IDN). RIC as defined by Skeete was originally intended to be logical and intuitive.
For equity, the codes consist of RIC Root (one to four characters - A through Z), followed by period marks, then one or two character codes (A to Z) indicating the exchange in which the instrument is traded.. Each company is meant to have unique RIC roots. So RIC Root for International Business Machines will become IBM regardless of the exchange where International Business Machines are trading.
Glen Renfrew, CEO at the time, was persuaded to veto the unique RIC Roots idea. Also vetoed is Skeete's intention to make RIC available freely and become an ISO standard. Many of Skeete's original works are still contained in the current RIC structure, but some key elements have changed over the years.
RIC consists primarily of security ticker symbols, optionally followed by periods and exchange codes based on the name of the stock exchange using the ticker. For example, IBM.N is a valid RIC, referring to IBM traded on the New York Stock Exchange. IBM.L refers to the same share trading on the London Stock Exchange. The exchange code used in the RIC is owned by Reuters. The exchange code has an ISO standard, ISO 10383, which is not used by the Reuters Instrument Code, but is commonly used elsewhere. The ticker symbol is often reused on different exchanges, so in many cases the same ticker symbol refers to different securities.
RIC codes use "artificial" tickers for general indexes and money market instruments. For example, a 10-year US money market bond is given a ticker US10YT , "T" at the end of which refers to "Treasury". Commodities are the same assigned tickers, eg crude oil is CL . The index has a leading period, for example .DJI is the Dow Jones Industrial Average.
Confusing "dot notation" is also used for a number of other purposes. Units are marked with ".UN", and certain exchanges such as NASDAQ by ".OQ". This confusion seems to be the result of Reuters's efforts to combine the standards used by the various services they purchased in the 1980s and 1990s.
Another example:
- WMT.N means Wal-Mart shares traded on the New York Stock Exchange (N)
Example index:
- .DJI Dow Jones Industrial Average
- .IXIC NASDAQ Composite Index
- .SPX S & amp; P 500
- .GSPENTE stands for S & amp; P (GSP) entertainment (ENTE).
Examples of commodity futures:
- CL crude oil, light oil
- GC gold
- HU unleaded gasoline
- HO heating oil
Maps Reuters Instrument Code
Antitrust issues
In November 2009, the European Commission opened a formal anti-trust process against Thomson Reuters to investigate whether Thomson Reuters could abuse its dominant position in the market for consolidating real-time data collection through its RIC license practices, violating EU antitrust rules. In December 2012, the European Commission accepted Thomson Reuters's proposal to correct the problem. The EC announcement brings this issue to a close, without finding any responsibility. In short, this proposal involves Thomson Reuters agreeing to offer its customers the privilege of a special license to continue using the RIC in the application with data from the alternative real time data consolidation feed provider they have moved.
See also
- Ticker Symbol
- CUSIP
- SEDOL
- ISIN
- NSIN
- Option symbol
- Symbol Uniform
- CNBC Ticker
References
Source of the article : Wikipedia
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