Thomson Reuters is offering traders a new tool that enables them to quickly understand the constant regulatory changes occurring in financial markets.

The tool streamlines compliance workflows and provides easy access to regulatory and market content.

A poll conducted by the company, of 250 compliance managers and traders, found less than a third of respondents were aware of all regulatory rules associated with their activities at any given time.

Thomson Reuters Eikon for Compliance Management is designed to address the problems faced by organisations in interpreting and communicating regulatory change and its impact across the front, middle and back office.

It will allow compliance managers to perform market and company data research as part of their surveillance or audit investigations. It will help them manage compliance manuals through a customisable workflow tool.

A number of compliance policy workflow, eLearning and surveillance add-on applications will then allow policy changes and compliance training to be distributed to front office staff.

Confirmation that those changes have been adopted can be tracked to maintain a complete audit trail for regulators.

“If the financial crisis has taught us anything it’s that the culture of compliance needs to be embedded right at the trader’s workstation,” said David Craig, president of Financial & Risk at Thomson Reuters.

“The effective flow of regulatory information to the trading floor helps protect firms from the risk of sanction and enforcement and helps demonstrate to the regulatory authorities that compliance is front of mind across the organisation. Enabling this through the core trading workstation and in the context of the financial market in an intelligent way, makes it easier, simpler, and reduces resistance to compliance.”

In other news, Thomson Reuters has agreed to acquire FX Alliance (FXall), an independent global provider of electronic foreign exchange trading solutions to corporations and asset managers, for £625m.