Categories: OLD Media Moves

Real-time stock prices wanted

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.

A Reuters story reported, “Google and Yahoo banded together with Bloomberg LP and CNET Networks under the umbrella of NetCoalition, an Internet industry group, saying for-profit exchanges had monopolistic control over their data and were trying to charge unfair prices.

“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.”

Read more here.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.