Nasdaq OMX Group is now offering its machine-readable news service at its data center in Carteret, N.J. The data center houses the trading platforms for all U.S. markets owned by Nasdaq, so any firm that co-locates with those markets will be able to subscribe to the service.
The data feed, known as Event-Driven Analytics, provides key economic indicators—like Treasury auction results, jobs statistics and inflation data—in a machine-readable format so latency-sensitive traders can process that information and trade on it as quickly as possible.
Nasdaq started offering machine-readable news earlier this year after acquiring the company RapiData. Brian Hyndman, Nasdaq’s senior vice president for global data products, said by expanding to the data center, the company will be able to give more customers access to the service.
“We had a few higher priorities that we were working on, with one of them being reduction in latency,” Hyndman said. “We thought it was time to give it broader access. Now, every customer that we have that’s located in Carteret will have access to the machine-readable product.”
Next, the company plans to add corporate data to the service, as well as macroeconomic data from European governments.
Event-Driven Analytics is accessible at Carteret through high-speed 10G and 40G Ethernet networks. Subscribers can also receive information through an approved extranet.
The service is additionally available via the CH2 Equinix data center in Chicago, the NY2 Equinix data center in New York and the K-Street Coresite data center in Washington, D.C.
Nasdaq partners with a number of firms, including Traders Magazine’s sister publication Bond Buyer, to get government economic data.
Machine-readable news has traditionally been a tool for high-frequency traders, but it is now used by all types of trading firms that want to quickly incorporate macroeconomic news into their algorithms.
