Refinitiv

What Refinitiv does

Refinitiv was a financial markets data and infrastructure provider that operated the Refinitiv Eikon terminal, DataScope Select, Datastream, and an extensive portfolio of market data, ESG, pricing, and KYC/AML products before being acquired by London Stock Exchange Group for approximately $27 billion in 2021. Following the acquisition, the business operates as LSEG Data & Analytics, with the Refinitiv brand subsequently retired and the Eikon terminal rebranded as LSEG Workspace.

The company's technology stack centers on an AI-powered analytics platform that orchestrates Large Language Models to transform vast real-time financial data into actionable insights, delivered through LSEG Workspace as the primary workflow interface. The architecture follows a platform-plus-modules model: Workspace serves as the interoperable front end, supplemented by DataScope Select, Datastream, Market Data, Pricing Data, ESG Data, and REDI EMS modules. Exclusive distribution rights to Reuters News provide a 170-year content library. A flagship strategic partnership with Microsoft supports cloud-based, AI-ready infrastructure under the 'LSEG everywhere' AI strategy. Subsidiaries include Reuters News, LSEG Workspace (formerly Refinitiv Eikon), FTSE Russell indices, and GIACT Systems for identity verification.

The business model is built on recurring subscription revenue from financial institutions, asset managers, and corporates, with terminal pricing for LSEG Workspace reportedly ranging from $22,000 to $32,000 per seat annually based on third-party comparisons. Go-to-market relies on enterprise field sales teams with dedicated regional contacts across the Americas, EMEA, and APAC, complemented by self-serve product login portals for existing customers. The platform serves over 40,000 customers and 400,000 end users across approximately 190 markets, generating recurring revenue that accounts for nearly half of LSEG group revenue, with industry-benchmark gross margins of 70-85% and client retention rates above 90%.

Name

Refinitiv

Legal name

London Stock Exchange Group plc

Website

https://refinitiv.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Refinitiv (now LSEG Data & Analytics) provides financial markets data, analytics, and workflow solutions, including the LSEG Workspace terminal, Reuters News, and ESG/compliance data products, serving over 40,000 financial institutions and 400,000 end users across approximately 190 markets globally.

Ownership category

akta.pro rank

Product category

Financial Market Data & Analytics

NAICS

Custom Computer Programming Services (541511), Computer Systems Design and Related Services (54151), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518)

SIC

Services-Computer Programming, Data Processing, Etc. (7370), Services-Computer Processing & Data Preparation (7374), Services-Management Consulting Services (8742)

akta.pro primary industry

Real-Time Market Data Feeds & Terminals (FSAFAIAA)

akta.pro secondary industry

Regulatory Reporting & Compliance Automation (FinCEN/CTR/SAR, EMIR/MiFID, etc.) (FSAGAFAG)

Keywords

• Financial market data
• Market data feeds
• Financial analytics platform
• Trading workflow solutions
• Regulatory compliance data

Headquarters

HQ city

Allen

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Financial Data & Analytics Subscriptions: LSEG's Data & Analytics segment generates recurring subscription revenue from financial institutions, asset managers, and corporations. This includes terminal access fees for LSEG Workspace (formerly Refinitiv), data feed subscriptions, and analytics platform licenses. The segment generates nearly half of LSEG's total revenue.
2. Data Feeds & Market Data Services: Revenue from distribution of real-time and delayed market data feeds, pricing data, ESG data, and specialized data products to financial professionals.
3. Analytics & Workflow Solutions: AI-powered analytics platform and workflow solutions including custom analytics, benchmarking, and professional consulting services for enterprise customers.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Refinitiv, operating as LSEG Data & Analytics, is a global provider of financial markets data and infrastructure, serving over 40,000 customers and 400,000 end users across approximately 190 markets. It delivers real-time market data feeds, AI-powered analytics, exclusive Reuters news, and workflow solutions through the LSEG Workspace platform for trading, investment research, risk management, and regulatory compliance.

Product overview

LSEG Data & Analytics (formerly Refinitiv) operates as a platform-plus-modules architecture offering the LSEG Workspace as its primary workflow interface. The core platform is complemented by specialized data and analytics modules including Data & Feeds (market data and feeds), Analytics (AI-powered analytics), and the exclusive Reuters News service. Additional modules include DataScope Select, Datastream, ESG Data, Market Data, Pricing Data, REDI EMS, and World-Check for KYC/AML compliance. The platform serves over 40,000 customers across approximately 190 markets with data, feeds, analytics, AI, and workflow solutions.

Differentiator

Problem solved

Functional benefit

Brands

• LSEG Workspace: AI-powered analytics and workflow platform for financial professionals
• Reuters News
• LSEG Analytics Solutions
• Data & Feeds
• GIACT Systems

Products and services

• LSEG Data & Analytics Comprehensive suite of financial markets data, feeds, analytics, AI, and workflow solutions for financial institutions, asset managers, and corporations across approximately 190 markets.
• LSEG Workspace Open ecosystem workflow solution providing interoperable and collaborative workflows, combining unique insights, Reuters news, and cutting-edge analytics for financial professionals.
• Data & Feeds

Quantifiable outcome

• 70-85% gross margins and 90%+ client retention rates typical for financial data providers in this segment

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability8 records

Feature4 records

Partnerships

One partnership is on record.

• MicrosoftflagshipTechnology or IntegrationLSEG's strategic partnership with Microsoft is reshaping how financial services are built, delivered, and experienced. Guided by the 'LSEG everywhere' AI strategy, they are creating next-generation AI-ready data, analytics, and cloud infrastructure solutions that empower customers to make more possible. This partnership represents a core strategic initiative for delivering cloud-based financial data solutions.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• MSCI: MSCI provides indices, portfolio construction, ESG, and risk analytics for institutional investors, overlapping with LSEG's FTSE Russell indices and ESG data franchises. It is a broader data-and-analytics incumbent rather than a terminal competitor.
• ICE (Intercontinental Exchange): ICE operates major exchanges and a growing fixed-income data and analytics franchise (including ICE Data Services), serving many of the same institutional customers as Refinitiv. It is a broader incumbent with overlapping capabilities in market data, indices, and connectivity rather than a specialist terminal.
• Nasdaq (Market Data + Quandl): Nasdaq operates exchanges and a Market Data + Alternative Data business (including Quandl) that overlaps with LSEG Data & Analytics on feeds, indices, and analytics sold to institutional investors and corporates.
• Moody's: Moody's is a large incumbent in financial data and analytics with credit ratings, risk solutions, and entity data (Bureau van Dijk), serving banks, insurers, and corporates that also use Refinitiv data and analytics. It competes on entity, KYC, and risk data rather than the core terminal experience.

Direct peers

• FactSet: FactSet is a direct competitor in portfolio analytics, market data, and workstation solutions for asset managers, hedge funds, and investment bankers. Its integrated workstation and analytics offering overlaps heavily with LSEG Workspace's investor workflow use cases.
• Bloomberg: Bloomberg Terminal is the dominant financial-market data and analytics terminal with ~33% market share, directly competing with LSEG Workspace (Refinitiv) on real-time market data, news, analytics, and workflow tools for the same institutional buy-side and sell-side customers.
• Morningstar: Morningstar provides investment data, analytics, and portfolio tools for advisors, asset managers, and asset owners with comparable terminal-style offerings. Its direct overlap with LSEG Workspace in fund data, equity research, and portfolio analytics makes it a natural direct peer.
• Dun & Bradstreet: Dun & Bradstreet is a direct competitor in entity data, corporate hierarchy, and KYC/AML-adjacent datasets via its WorldBase platform, serving the same compliance, counterparty-risk, and master-data use cases as LSEG's DataScope and entity data services.
• S&P Global Market Intelligence: S&P Capital IQ Pro is a head-to-head competitor in fundamental data, transcripts, estimates, and analytics for investment research and corporate strategy teams. The Capital IQ platform competes directly with Workspace in the financial-terminal category where Refinitiv holds ~20% share vs. S&P's ~6%.

Emerging players

• AlphaSense: AlphaSense is a fast-growing AI-powered market intelligence platform for corporate strategy, consulting, and investment research, competing with Refinitiv's AI analytics and Workspace experiences for a share of research and decision-support budgets.

Market position

Strengths3 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/LSEGplc
• YouTubeyoutube.com/lsegplc
• LinkedInlinkedin.com/company/lseg-data

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A5 records

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Refinitiv