(Reuters) - Thomson Reuters Corp is partnering with Wall Street-backed chat service Symphony Communication Services LLC to enable users to chat and share data seamlessly, creating a more head-to-head competitor to Bloomberg LP. The partnership, announced by Thomson Reuters and Symphony on Tuesday, brings together two competing messaging services for investment managers and traders. It remains to be seen what effect the partnership will have on Bloomberg, which is a dominant provider of chat services in the financial services market, said Spencer Mindlin, an analyst with research firm Aite Group. "I don’t think it's going to cause an immediate dip in the number of people signing up for Bloomberg terminals," he said. "This alliance may put additive pricing pressure on Bloomberg and its subscription fees charged to customers.”

Source: New York Times June 13, 2017 11:21 UTC