Money.Net Integrates MT Newswires into Terminal
Officials say the content will provide a comparable news service to premium terminals.
Money.Net terminal users can now access MT Newswires’ Live Briefs Investor US news service, which covers securities and derivatives traded on NYSE and NYSE MKT, Nasdaq, the Chicago Board Options Exchange, and the International Securities Exchange, and is designed to support trading in US securities.
MT Newswires tags ticker symbols referenced in every news story, and provides related market data such as price, price change and percentage change. The service also includes pre-market and after-hours news and analysis, as well as daily global market summaries of European and Asian trading.
“Money.Net has licensed our Live Briefs news service in order to provide their clients with a comparable real-time news experience to what’s provided on Bloomberg,” says MT Newswires founder and chief executive Brooks McFeely. “Our multi-asset class news helps firms like Money.Net compete in the wealth desktop space, where having a comprehensive news service is essential.”
The news will be available on Money.Net’s Speed Desk news service alongside its proprietary breaking news and other specialist sources, including Fly on The Wall, which provides Wall Street analyst recommendations, IPOs and secondary offering information; Ransquawk, a 24-hour global news squawkbox; and Tip Ranks, which tracks and measures analyst performance.
“The goal of Speed Desk is to provide information on what moves markets in real time with breaking headlines, in a short fast news consumption format. With Speed Desk, traders get what is happening in real time at a glance,” says Money.Net chief executive Morgan Downey.
Money.Net added MT Newswires to Speed Desk after receiving requests from customers who Downey says are “loyal” to the MT Newswires brand and its coverage of pre- and post-market news.
“When post-4pm trading became available, there was very little news of stocks after hours… the big newswires didn’t cover those as well as they could have, and that’s where MT Newswires initially built up its core following,” Downey says. “What happens pre- and post-market drives a lot of the US markets. For example, firms release earning announcements at those times… and traders like to look at Asia-Pacific markets like Tokyo or Australia opening.”
The MT Newswires service is included in the cost of the Money.net platform so users will not be required to pay any additional fee, Downey says, adding that firms are becoming more “cognizant of price transparency” around market data services.
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