New Rival Emerging for Bloomberg Chat

http://online.wsj.com/article/SB10001424127887324102604578495900822230278.html

Thomson Reuters Corp. [TRI.T +1.01%] and Markit, rival data providers, have teamed up with investment banks to build a new messaging service to challenge competitor Bloomberg LLP, according to Financial News.

Banks including Goldman Sachs Group Inc. [GS +1.15%] and Deutsche Bank AG [DBK.XE -2.28%] are helping to set up the project, called the Open Federated Chat initiative, according to people familiar with the plans.