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FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month September 1998
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REUTERS GROUP PLC
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(Translation of registrant's name into English)
85 Fleet Street, London EC4P 4AJ, England
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(Address of principal executive offices)
[Indicate by check mark whether the registrant files or will file
annual reports Form under cover Form 20-F or Form 40-F.]
Form 20-F [X] Form 40-F [ ]
[Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.]
Yes [ ] No [X]
This Report is incorporated by reference in the prospectuses contained in Post
Effective Amendment No. 2 to Registration Statement No. 33-16927 on Form S-8,
Post-Effective Amendment No. 1 to Registration Statement No. 33-69694 on Form
F-3, Post-Effective Amendment No. 1 to Registration Statement No. 33-90398 on
Form S-8 and Post-Effective Amendment No. 1 to Registration Statement No.
333-7374 on Form F-3 filed by the registrant under the Securities Act of 1933.
FOR IMMEDIATE RELEASE
CONTACT: Robert Crooke Nancy Bobrowitz
Media Relations Investor Relations
Reuters America Inc. Reuters America Inc.
212-603-3587 212-603-3345
REUTERS GROUP ANNOUNCES MANAGEMENT CHANGE AT INSTINET
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London, September 11, 1998 - Reuters today announced that Douglas Atkin, Chief
Operating Officer of Instinet Corporation, has been appointed its President and
Chief Executive Officer. He succeeds Michael O. Sanderson who has decided to
retire with effect from September 30. In his new role, Atkin, who has been with
Instinet for 15 years, will assume overall responsibility for Instinet's
activities on a worldwide basis.
Michael Sanderson joined Instinet as President and CEO in 1990.
Instinet Corporation, a subsidiary of Reuters Group PLC (NASDAQ: RTRSY),
provides agency brokerage services in global equities to securities industry
professionals in over 30 countries, delivered primarily through sophisticated
computer technology. Andre Villeneuve, a Reuters executive director, is Chairman
of Instinet.
(18/98)
# # #
Reuters and the dotted and sphere logos are the house trademarks of Reuters
Limited.
FOR IMMEDIATE RELEASE
CONTACT: Robert Crooke Nancy Bobrowitz
Media Relations Investor Relations
Reuters America Inc. Reuters America Inc.
212-603-3587 212-603-3345
REUTERS ANNOUNCES MANAGEMENT CHANGES IN THE AMERICAS
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New York, September 21, 1998 - Reuters today announced that Thomas Glocer,
Executive Vice President, Reuters America, is appointed President, Reuters
Information, the Americas, and President of Reuters America Inc. Graham Albutt,
Executive Vice President and Chief Information Officer, Reuters America, is
appointed President, Reuters Trading Systems, the Americas.
The appointments are effective October 1 and will follow the previously
announced retirement, effective September 30, of Michael Sanderson from his
executive functions as Chairman and Chief Executive Officer, Reuters America
Holdings Inc. Sanderson will continue as non-executive Chairman of Reuters
America Holdings Inc. through December 31, 1998.
Glocer and Albutt will share executive responsibilities for the Reuters America
business, with Glocer assuming the role of senior company representative. The
Information and Trading Systems roles which they will assume reflect the planned
structure of the sales and operations business organization within the Americas
as part of an overall global reorganization announced by Reuters in July.
Glocer joined Reuters in 1993, having worked as a mergers and acquisitions
lawyer with Davis Polk & Wardell in New York, Paris and Tokyo. He was General
Counsel of Reuters America Holdings from 1995-1996 whereupon he was named CEO of
Reuters Latin America responsible for the company's operations throughout the
region. In January 1998 he was appointed co-head of Reuters revenue and account
management operations in North America. He was named Chairman of Reuters
NewMedia Inc. in January as well.
Albutt joined Reuters in 1986 after having worked in the software and management
consulting industries. Based in London and New York, he worked on various
aspects of Reuters financial information products. He was project manager for
Reuters Mondey 2000 at its April 1990 launch, and he held senior management
positions in Reuters international marketing through 1995. In January 1996 he
was named Chief Information Officer, Reuters America Holdings in New York. As
part of his role in the Americas he was responsible for the production and
launch of Reuters Plus.
Reuters America Inc. is the primary operating entity in the Americas of Reuters
Group PLC (NASDAQ: RTRSY), the international news and financial information
services company.
# # #
Reuters and the dotted and sphere logos are the house trademarks of Reuters
Limited.
FOR IMMEDIATE RELEASE
CONTACT: Robert Crooke Nancy Bobrowitz
Media Relations Investor Relations
Reuters America Inc. Reuters America Inc.
212-603-3587 212-603-3345
REUTERS EXTENDS ITS ORDER HANDLING CAPABILITIES WITH ACQUISITION OF LIBERTY
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London, September 30, 1998 - Reuters, the global information and news group, has
acquired Liberty SA, a subsidiary of Cedel International SA. This acquisition
significantly expands Reuters capabilities in order handling, the electronic
transmission of investment business.
Liberty is a leading provider of electronic links for the global securities
markets offering order routing and order management services. Liberty, which has
some 150 clients, also provides links to other trading processes such as
clearing and settlement.
The value of the net assets acquired and the cost of the acquisition are not
considered material to Reuters. The acquisition will be funded out of the
existing cash resources of Reuters.
Reuters is developing an order handling business providing `straight through
processing' which will enable its clients to automate the trading process,
manage order flow and reduce their costs. This strategy will also respond to the
growing requirements for cross-border trading.
The acquisition of Liberty follows Reuters recent investment in GL Trade which
provides accesses to electronic stock exchanges. Reuters will complement these
capabilities with system solutions and integration for customers who require
enterprise-wide order management systems.
Reuters and Cedel Bank have separately agreed to develop further `straight
through processing' links which will allow customers to clear and settle
transactions in Cedel Bank.
Peter Job, Reuters chief executive, said: "We intend to become a prominent
supplier of order handling capabilities for the securities markets. The purchase
of Liberty is a significant milestone in this strategy."
# # #
(19/98)
Reuters and the dotted and sphere logos are the house trademarks of Reuters
Limited.
Note to editors
Background
Stock exchanges are automating and consolidating to offer cost-effective pools
of liquidity with electronic gateways for execution. Market participants need to
improve profitability through lower costs and reduced risk as well as to develop
standardised trading processes. There is therefore a need to create electronic
links at all levels to trade and process investment business.
Reuters is meeting this need by developing an order handling capability, i.e.:
the electronic handling of various stages of the securities business.
Order management systems are used in the front offices of brokers, traders and
investment managers to manage enterprise-wide order flow and external links.
Order routing systems allow counterparties to route and manage orders and
indications of interest between themselves. Stock exchange gateways systems
deliver order information and trading access to electronic stock exchanges.
Indications of interest are the indicative order messages communicated between
market participants.`Straight through processing' is the development of the
entire trading process into an efficient electronic process.
Reuters
Reuters supplies 457,000 users located in 58,000 organizations in global
business and news media with the widest range of information and news products
including real-time financial data, transaction and risk management systems,
numerical, textual, historical and graphical databases, news, news video and
news pictures. Reuters designs and installs trading room systems. It extensively
uses internet technology for wider distribution of information and news.
Reuters is the world's largest news and television agency with 2,035
journalists, photographers and cameramen in 169 bureaus serving 163 countries.
News is published in 25 languages. Further information about Reuters may be
obtained on the Internet at WWW.REUTERS.COM/ABOUTREUTERS/MEDIA.HTM, or
WWW.REUTERS.COM/ABOUTREUTERS/MEDIAPACKS/EVENTS (for related photos).
Cedel Group
Cedel Group was created in September 1970 and its shareholders consist of the
world's major financial institutions. On 1 January 1995 a new corporate
structure was introduced, establishing for the first time a parent, Cedel
International, with subsidiary companies, including Cedel Bank, the
International Depository, which contains the core clearing and settlement
business of the former 'Cedel'. The Bank is assigned short-term and long-term
ratings of A1+ and AA+ respectively by Standard and Poors and F1+ and AA
respectively by FITCH IBCA and holds USD 1.6 trillion of customers' securities
in safekeeping; trades worth up to USD 100 billion are settled in a business
day. In September 1997 a new subsidiary, Cedel Global Services (CGS) and a
sister company to Cedel Bank, was established. CGS brings together the IT
Development and Operations functions of Cedel Bank and will provide securities
processing services to the Bank. In the longer term, CGS will respond to
increasing market demand for centralised securities processing.
GL Trade (GL)
On 29 July 1998 Reuters acquired a 33.5 per cent stake in GL. GL, formerly known
as GL Consultants and based in Paris, is a leading developer of interactive
software which links equities traders to electronic exchanges in order to
monitor the market and enter orders. Reuters has additionally entered into an
agreement to market GL's electronic gateway technology. To date, GL has
developed over 20 interfaces to electronic exchanges. This agreement will enable
members of stock exchanges who are also Reuters clients with open systems to use
GL's electronic gateways to link to their exchanges.
Reuters acquired its stake in GL from Societe des Bourses Francaises (SBF-Bourse
de Paris), the Paris stock exchange, and the founders of GL. SBF retains control
over GL.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
REUTERS GROUP PLC
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(Registrant)
Dated: December 14, 1998 BY: /s/ J. B. Reid-Dodick
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John B. Reid-Dodick
Attorney-in-Fact