Thomson Reuters has announced a new tool that aims to help traders quickly understand the constant regulatory changes occurring in financial markets by streamlining compliance workflows and providing simultaneous access to regulatory and market content.

A recent Thomson Reuters poll covering 250 compliance managers and traders found that only 31 percent of respondents were aware of all regulatory rules associated with their activities at any given time.

Thomson Reuters Eikon for Compliance Management claims 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, and 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 and confirmation of adoption of those changes to be tracked to maintain a complete audit trail for regulators.

Thomson Reuters claims that this will allow traders to keep abreast of regulatory change and the potential impact of regulation on their trading activities.

"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."

It was revealed yesterday that 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 which it will pay $22 (£14) per share in cash for 100 percent of the shares.