Matthews reports, “The media organizations, also including the Associated Press, Dow Jones & Co., Market News and Reuters, wrote to Bureau of Labor Statistics Commissioner William Beach that banning computers would merely delay news organizations from filing their news stories. That would give an edge to sophisticated traders who could scrape government websites, find the relevant numbers in fractions of a second and execute trades before the data are shared with the public, according to the letter.
“‘Thus, the changes will have little, if any, effect on the perceived advantage to algorithmic traders,’ the letter said. ‘Instead, it will increase the advantage that algorithmic traders have by impeding Lockup attendees’ ability to disseminate their analyses of the data.’
“Beach had cited a 2014 report by the department’s inspector general saying several news organizations that participate are able to profit by providing the numbers to algorithmic traders in a format that provides them an advantage.”
Read more here.
The Wall Street Journal is looking for an editor to lead its coverage of logistics…
The Wall Street Journal seeks an enterprising and ambitious reporter to cover the intersection of…
The Wall Street Journal is seeking a reporter in Washington, DC, to chronicle one of…
Reuters has hired Wall Street Journal reporter Anna Hirtenstein. She will start next month. Hirtenstein has…
Caroline Gage, head of the Americas for Bloomberg News, sent the following announcement to staff:…
Forbes senior editor Amy Feldman is now covering health care. She had been covering industrial innovation and…