Eikon
Refinitiv Eikon is a financial data and analytics platform originally launched by Thomson Reuters in 1981 and now owned by the London Stock Exchange Group (LSEG).
Publisher review
Refinitiv Eikon is a financial data and analytics platform originally launched by Thomson Reuters in 1981 and now owned by the London Stock Exchange Group (LSEG). It is used by over 190,000 professionals across 40,000 firms for real-time market data, news, and research. The platform is designed for traders, analysts, and portfolio managers who need customizable workspaces, an Excel add-in for live data feeds, and integration with trading venues and execution management systems (EMS). Eikon competes directly with the Bloomberg Terminal, FactSet, and S&P Capital IQ, offering a lower-cost alternative with strong analytics but a steeper learning curve and slightly slower data distribution.
Eikon provides real-time market data covering equities, fixed income, currencies, and commodities, with advanced analytics that are tightly integrated into its interface. The Excel add-in, known as Eikon for Excel, allows users to pull live data directly into spreadsheets for modeling and reporting. The platform also includes native EMSX for equities and derivatives, enabling order execution from within the workspace. Customizable workspaces let users arrange charts, news feeds, and data tables to match their workflow, while the news and research integration aggregates content from Reuters and other sources.
In the market, Eikon is often seen as a more affordable alternative to the Bloomberg Terminal, with annual pricing ranging from approximately $10,000 to $22,000 depending on the data package. However, Bloomberg Terminal users frequently cite Eikon's slower market data distribution and narrower global multi-asset coverage as key drawbacks. Compared to FactSet and S&P Capital IQ, Eikon offers broader real-time data but may lack the same depth in fundamental analysis tools. The platform is widely used in sell-side and buy-side firms, though Bloomberg remains the dominant choice for high-frequency trading and fixed-income markets.
A critical trade-off is Eikon's impending end-of-life: Refinitiv Eikon will officially end in June 2025, replaced by LSEG Workspace, a redesigned desktop solution. This transition means current Eikon users must migrate to the new platform, which may introduce compatibility issues with existing workflows and custom integrations. While Eikon's Excel add-in is extremely powerful, the initial learning curve is steep, and users often require training to leverage its full capabilities. Additionally, the platform's market data distribution is slower than Bloomberg's, which can be a disadvantage for latency-sensitive trading strategies. Despite these issues, Eikon remains a solid choice for firms seeking broad market coverage at a lower price point.
How it works
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Real-time market data
Provides live pricing and data for equities, fixed income, currencies, and commodities across global markets.
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News and research integration
Aggregates news from Reuters and other sources, with integrated research reports and analyst estimates.
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Customizable workspaces
Users can arrange charts, data tables, and news feeds into personalized layouts for their workflow.
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Excel add-in
Eikon for Excel allows live data feeds into spreadsheets for real-time modeling and reporting.
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Advanced analytics
Built-in tools for technical analysis, risk modeling, and portfolio analytics are tightly integrated.
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Integration with trading venues and EMS systems
Native EMSX enables order execution for equities and derivatives directly from the platform.
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Customizable data packages
Offers tiered data subscriptions ranging from basic market data to comprehensive multi-asset coverage.
Strengths and trade-offs
Strengths
- Extremely broad market data coverage across equities, fixed income, currencies, and commodities used by 190,000+ professionals.
- Strong consistency across functions, with analytics and data tightly integrated into a single interface.
- Excel add-in is extremely powerful, enabling live data feeds for real-time modeling and reporting.
- Native EMSX for equities and derivatives allows order execution directly from the workspace.
Trade-offs
- Initial steep learning curve requires significant training to use effectively.
- Slower market data distribution compared to Bloomberg Terminal, impacting latency-sensitive trading.
- Limited global multi-asset coverage compared to Bloomberg, especially in fixed income and derivatives.
- Refinitiv Eikon will end in June 2025, forcing migration to LSEG Workspace and potential workflow disruptions.
Pricing context
Annual subscriptions range from approximately $10,000 to $22,000 depending on the data package and add-ons.
Getting started with Eikon
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Sign up for Eikon
Contact LSEG sales to purchase an annual subscription, which ranges from $10,000 to $22,000 depending on your data package. You will receive login credentials and download instructions for the desktop application.
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Install and launch Eikon
Download the Eikon desktop client from the LSEG customer portal and install it on your workstation. Launch the application and log in using the credentials provided during sign-up.
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Configure your workspace
Arrange charts, data tables, and news feeds into a personalized layout by dragging and dropping components from the toolbar. Save your workspace to reuse it for daily monitoring and analysis.
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Pull live data into Excel
Open the Eikon for Excel add-in from within Microsoft Excel. Use the formula builder to select a data field, such as a stock price, and link it to a cell to receive real-time updates for modeling.
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Execute a trade via EMSX
Within your workspace, open the EMSX panel for equities or derivatives. Enter an order with the symbol, quantity, and price, then submit it directly to your broker for execution.
Frequently Asked Questions
What is Refinitiv Eikon?
Refinitiv Eikon is a financial data and analytics platform launched by Thomson Reuters in 1981 and now owned by LSEG. It provides real-time market data, news, and research for over 190,000 professionals across 40,000 firms.
What are the main features of Eikon?
Eikon offers real-time market data for equities, fixed income, currencies, and commodities. It includes an Excel add-in for live data feeds, customizable workspaces, advanced analytics, news integration, and native EMSX for order execution.
How much does Eikon cost per year?
Annual subscriptions for Eikon range from approximately $10,000 to $22,000, depending on the data package and add-ons. This makes it a more affordable alternative to the Bloomberg Terminal for firms seeking broad market coverage.
How does Eikon compare to the Bloomberg Terminal?
Eikon is a lower-cost alternative with broad market data coverage but has slower data distribution and a steeper learning curve. Bloomberg Terminal offers faster data, deeper fixed-income coverage, and is preferred for high-frequency trading.
Is Eikon being discontinued?
Yes, Refinitiv Eikon will officially end in June 2025. It is being replaced by LSEG Workspace, a redesigned desktop solution. Current users must migrate to the new platform, which may cause workflow disruptions.
What is the Eikon Excel add-in used for?
The Eikon for Excel add-in allows users to pull live market data directly into spreadsheets for real-time modeling and reporting. It is a powerful tool for analysts and portfolio managers who need up-to-date data in their workflows.
Alternatives
How Eikon compares
Direct head-to-head against 3 competitors. Picked by 7wData.
Eikon
- Pricing
- Annual subscriptions range from approximately $10,000 to $22,000 depending on the data package and add-ons.
- Target
- Refinitiv Eikon is a financial data and analytics platform originally launched by Thomson Reuters in 1981 and now owned by the London Stock Exchange Group
- Strength
- Extremely broad market data coverage across equities, fixed income, currencies, and commodities used by 190,000+ professionals.
- Watch for
- Initial steep learning curve requires significant training to use effectively.
Bloomberg Terminal
- Pricing
- ~$32k/yr
- Target
- Institutional traders and analysts
- Deployment
- On-premise
- Strength
- Comprehensive global market data
- Watch for
- High cost and steep learning curve
FactSet
- Pricing
- ~$12k/yr
- Target
- Financial professionals
- Deployment
- Cloud, on-premise
- Strength
- Integrated financial data and analytics
- Watch for
- Enterprise pricing can escalate
Koyfin
- Pricing
- Free, $39/mo
- Target
- Individual investors
- Deployment
- Cloud
- Strength
- Affordable Bloomberg-style terminal
- Watch for
- Limited global coverage
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Sources
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