Data vendor Thomson Reuters has unveiled a new service designed to give high-frequency traders the fastest possible access to machine-readable news content.
Thomson Reuters NewsScope Direct will offer high-frequency traders in London and Chicago microsecond delivery of news and economic data before it has a chance to move the market.
NewsScope Direct will be housed within Thomson Reuters’ London and Chicago hosting centres. Customers can connect and integrate the news feed into their trading strategies from their own data centres, or use Thomson Reuters' proximity hosting solution.
According to Thomson Reuters, its new service will be particularly useful for high-frequency traders in the FX and futures markets, which can move sharply in response to key news and economic data.
“Being first to act on this information can dramatically affect a firm’s profit and loss,” said Rich Brown, global business manager, machine readable news, Thomson Reuters. “The launch of NewsScope Direct, the market’s fastest machine readable news service, into London and Chicago reflects our commitment to delivering the market-moving information our clients need at the speed required by their high performance trading strategies.”
NewsScope Direct is one of Thomson Reuters’ solutions for quantitative and event driven trading, which provide content, technology, and data management capabilities for quant-based trading strategies.