Markit Offers PMI News Feed to Algo Traders
Markit has announced that its Purchasing Managers' Index (PMI) data will be available via Thomson Reuters News Feed Direct.
The feed is targeted specifically at algorithmic and high-frequency traders, being both ultra low-latency and machine readable in nature. The indices are indicators of business and economic events that drive markets, and are applicable over a wide range of asset classes, including equities, fixed income, derivatives and foreign exchange. The data is delivered over Thomson Reuters Elektron and through Eikon.
"Trading firms worldwide are incorporating a broader variety of news and event data into their strategies, particularly leading macroeconomic indicators that have the potential to move markets," says Rich Brown, head of quant and event driven trading at Thomson Reuters. "The exclusive low-latency delivery of PMI headline and sub-index data through News Feed Direct will allow firms to plug this information directly into their trading strategies, and be the first to respond to these releases, which provides a real competitive advantage. This launch is part of Thomson Reuters continued effort to deliver the most comprehensive set of content and analytics to the market."
Machine readable news is increasingly being utilized as another layer of data that can inform investment decisions. Developing on top of that is the nascent use of social media sentiment to help predict the movements of stocks and market-wide trends.
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