Explaining the news behind Market News International

Tony Mace joined Market News International in 1985 as an editor and was promoted to New York bureau chief in 1987, then to managing editor in 1990, with overall responsibility for all Market News content. He is now executive editor.

Prior to joining Market News, Mace was a journalist for regional newspapers in North Carolina.

He received his bachelor’s in English from UNC-Chapel Hill, and his master’s degree in international economics from the Fletcher School of Law and Diplomacy at Tufts University.

Market News, a wholly owned subsidiary of Deutsche Boerse Group, is a real-time news agency dedicated to providing global capital markets with relevant trading information.

Founded in 1983, Market News has press credentials recognized by the White House, both U.S. houses of Congress, the Fed, the Bundesbank, the ECB, as well as by the governments and central banks of all G-7 nations.

Mace spoke by email with Talking Biz News about his career and about Market News. What follows is an edited transcript.

How did Market News International get its start?

An entrepreneur, Robert Jones, wanted better real-time coverage on the U.S. economy and the Fed and financial markets and founded a news agency to provide it.

When did you start working for it, and what jobs have you held?

In 1985. I have been a reporter, copy editor, New York bureau chief, assistant managing editor, managing editor, and now executive editor.

How is MNI coverage different than other business news organizations?

We deliver news and intelligence by subscription to financial market professionals. We don’t cover the array of news our competitors do, but we deliver better depth and authority within our niche — that is news bearing on the outlook for interest rates and currencies.

We don’t aim to move markets but sometimes our stories do, like our interview with St. Louis Fed President James Bullard today. Within our niche, we excel at picking the news that matters most and explaining it.

Who does MNI consider its competitors?

Dow Jones, Thomson Reuters, Bloomberg, FT, and to a lesser extent, Informa Global Markets and other analytical services.

How big is the MNI staff? Locations?

About 125 in 14 locations in North America, Europe and Asia. Key centers include London, Frankfurt, Paris, New York, Washington, Tokyo, Beijing, Singapore, Sydney.

What do you consider to be the strengths of MNI’s coverage?

Our subscribers are busy, demanding people who count on us to deliver news that informs their financial market decisions. We deliver intelligence on the major economies and economic policy-making from strategic locations around the world. We are best known for breaking news from the major central banks such as the ECB, Fed, Bank of Japan, for our reporting on economic indicators, and for in-depth coverage of global fixed-income and currency markets.

Who is MNI’s core audience?

Financial market professionals form the core. We also deliver news to the public on our website, www.mni-news.com.

MNI has had several different owners in the past decade. How has that affected the operation?

It’s given us the backing to expand overseas, especially in Asia. The various owners have prized an independent and aggressive news operation, which is key.

Where do you see growth occurring for MNI in the next five years?

We still have small penetration of our core financial market audience so there’s plenty of room to grow there. Our events business is very promising.

As head of product development, what things are you looking into?

I’m no longer formally in charge of product development. We are certainly looking at more ways to interact with readers and address their questions. We are expanding our explanatory journalism offerings.