Bloomberg Email To Univ. Of Michigan Blasting Them For Giving Data Early to Reuters
Wow ... $550.000 per second. Wonder for how much they sell it when they are buying it for a cool $1.1 million
techmac:
Wow ... $550.000 per second. Wonder for how much they sell it when they are buying it for a cool $1.1 million
Wow ... $550.000 per second. Wonder for how much they sell it when they are buying it for a cool $1.1 million
They broke seconds in milliseconds and they are selling it as milliseconds 
The oldest salesman trick
eurofreek:
They broke seconds in milliseconds and they are selling it as milliseconds The oldest salesman trick
They broke seconds in milliseconds and they are selling it as milliseconds
The oldest salesman trickOnly milliseconds? Are you sure that they are not selling nanoseconds?
PS: bloomberg was asking for 15 minutes advance in news for less money and they were turned down And now they are "fighting" for justice?
techmac:
PS: bloomberg was asking for 15 minutes advance in news for less money and they were turned down And now they are "fighting" for justice?
PS: bloomberg was asking for 15 minutes advance in news for less money and they were turned down
And now they are "fighting" for justice?The amazing is what is written at the end :
A source with knowledge of the situation told Business Insider that Reuters is said to pay $3 million for a "select disclosure" agreement with either Markit or the Institute for Supply Management (ISM) to exclusively distribute their data in the same "select disclosure" way - except by 2 minutes versus 2 seconds.
It seems to be a rule of thumb by now not an exception that the privileged are getting news ahead of us. And with HFT capable hardware, we are not able to compete in news trading with any of the buyers of that information
We are left with trend trading now. And proper MM
In the past few days, Wall Street has started talking about a deal between The University of Michigan and Thomson Reuters that gives the company access to it key Consumer Confidence survey data early.
It's called a "select disclosure" agreement and it also allows them to distribute it to privileged clients 2 seconds before the news breaks with service called "ultra low latency" that only works if you pay a monthly have a super high speed, close connection to a stock exchange.
This is important enough for Thomson Reuters to pay the University of Michigan $1.1 million a year for the service.
And it's important enough that, behind closed doors, there were forces at work trying to stop this deal before it started.
Emails obtained by Business Insider show that Bloomberg started fighting the deal between the University of Michigan and Reuters as early as 2006.
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