Reuters and Microsoft are developing an instant messaging service designed for the world's financial institutions.
The two companies said they were developing the service in collaboration with 25 institutions, including some of the world's leading investment banks, to offer a fast, cost-effective and secure communications channel for the financial services industry.
Reuters.Net Messaging, which will use Microsoft's communications technology, will enable people within organisations to "talk" with each other electronically and to reach their customers and suppliers.
The service will be launched on Microsoft's new Session Initiation Protocol (SIP) software and services communications platform.
"Reuters.Net Messaging is at the heart of our strategy to develop next generation tools to facilitate collaboration within the global financial services community," Tom Glocer, Reuters chief executive-designate, said in a statement.
Microsoft chief executive Steve Ballmer said the aim was to bring a "world-class real-time communications solution to the financial services industry".
