The federal government’s planned changes in how it releases economic data to business journalists is being caused by high-tech trading, reports Geoffrey Rogow of Dow Jones Newswires.
“Mr. Fillichio’s remarks shed more light on why the Labor Department will change procedures for how the data are distributed. Previously, the Labor Department had only said the decision was geared at ‘leveling the playing field’ among news organizations.
“The push by news providers to serve the more technologically savvy of its customers, Mr. Fillichio said, has led to roughly seven instances where issues arose tied to security or the release of data ahead of the permissible time.
“‘The competition now extends to providing the raw data to subscribers trading on it through algorithms, which is not the purpose of the lockups,’ said Mr. Fillichio. ‘Lockups’ is the term used for the media gatherings on government facilities as news outlets prepare for the data releases.”
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