Reuters reports Tuesday that web sites such as Google and Yahoo! have joined together with business news organizations such as Bloomberg News and CNET Networks to attempt to receive real-time stock price information from the exchanges.
Currently, they receive stock price information on a 15-minute delay.
“The coalition argues the exchanges have an obligation to follow securities regulations that call for market data to be distributed at a ‘fair and reasonable’ rate.
“‘We were feeling the negotiations were extremely one-sided, and the prices were take it or leave it,’ said Markham Erickson, director of federal policy for NetCoalition. ‘It did not reflect a viable business model.’
“But Google and other allies such as CNBC, the business news cable network that is part of NBC Universal, say the January proposals from NYSE and Nasdaq took a more realistic approach. The SEC should approve them while working to address NetCoalition’s broader concerns, they said.”
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