Reuters loses right to use crucial IM technology

[flashl]

Source: NY Times



By THE ASSOCIATED PRESS
Published: July 30, 2008

SAN FRANCISCO (AP) -- Thomson Reuters Corp. must remove a crucial layer of software from its instant messaging service beginning Friday under a federal court order that threatens to disrupt communications within dozens of stock brokerages and banks.

The decision issued Tuesday by U.S. District Judge Colleen McMahon penalized Thomson Reuters for being two weeks late with its final licensing payment to Silicon Valley software maker FaceTime Communications Inc.

Reuters, the news and information service bought by Thomson Financial earlier this year, stitched FaceTime's computer coding into an instant messaging service that has been sold to about 100 customers in the financial services industry.

FaceTime's technology provides Reuters' instant messaging customers with two vital features -- security against computer hackers and tools to comply with a variety of government regulations that include a mandate to store the electronic conversations of securities traders and brokers.

Read more: http://www.nytimes.com/aponline/business/AP-Thomson-Reuters-Instant-Messaging.html

[comtec]

1. im rather curious as to how n why they were 2 weeks late

and WHY a lawsuit had to be involved ...
2 weeks isn't that long and it was the final payment.
there is something FAR fishier going on than the story explains...

[conspirator]

2. In the company I used to work they tried reuters messenger. Not worth what you pay for.

Too expensive for a simple chat software. Sure it has encryption. But these days, with so many open source libraries available, even a teenager can code a chat application with encryption.

[Tandalayo_Scheisskopf]

3. Skype has encryption too.

And its free. As far as storing messages, not so much.