What's The Fastest News Service?

Originally posted by mjt
When I was at Bright's seminar, they mentioned a couple times that you could spend $100/mo and get news when everyone else gets it, or you could spend $1000/mo and get it one minute faster, or you could spend $3000/mo and get it 5 minutes faster. I forget the exact numbers, but you get the idea. I have no idea what provider(s) they were referring to.
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My guess is that the 3k a month feed will be gladly supplied by Bright.
 
Used to be in a room w/ heavy hitter news heads. Between them they subscribed to the high end feeds of all the major providors. They needed them all because no one providor was first with every bit of news all the time. If it came across Reuters they would know that it hadn't hit Dow jones yet etc. Bridge was the most expensive I believe and the most profitable. If they liked the news they would be instantly in and lying in wait for it to hit DJ and Briefing so they could close their positions. Playing the news like this is a very intense game, these guys were pros who knew how it would affect sectors and related stocks.
 
Part of it depends on what kind of news you are looking for. Are you looking for breaking news on stocks or just some where to get the jump on economic numbers. Hopefully if you trade at a firms office that they would supply some kind of news service. Some offices use John Ogg who reads off breaking news, economic numbers, and rumors flying around all from different news services. He is good with the later two but is a step behind on breaking news on stocks. You can find his website on the internet at tradethenews.com (I think). Bloomberg is great if you can sit next to one and get and trade news off of that. However it is expensive.

I always thought it was a joke for offices now a days to sell people on the idea that all they need is CNBC to get their news. CNBC is too busy talking about capituation and the next bull whoops I mean bear leg. Almost all economic numbers released after the open are reported about 10 min late on CNBC. Once again any office using this as their sole source of news is a step behind the pack and the real move. You might as well sit at home and fire up the e-trade account with grandma and her lightening quick mouse clicking finger.
 
I know of a trader who does nothing but trade off redi-plus high end (not their standard crap news) service which costs about $200 per month. He swears by it... just FYI
 
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