UBS Warburg has provided a boost for Reuters, the troubled global news, information and technology group, by installing the Reuters Market Data System (RMDS) and the Reuters Internet Finance Platform as part of an ongoing cost-cutting initiative

Reuters' share price has fallen by 61% this year to a 10-year low - even below the emerging market crisis levels of October 1997 in Asia and August 1998 in Latin America. Its business has come under fire from massive job cuts in the investment banking industry, from which it derives 90% of its revenue. . The UBS deal is part of an effort to slash costs in its FX and cash collateral trading business, and also marks a move into a so-called mid-tier of investment banking clients, which Reuters is now targeting to offset the downturn in its main subscriptions-based business.