TR Halts Early Data Release for HFTs
Thomson Reuters is to stop providing early access to the University of Michigan consumer sentiment survey results to high-frequency traders, and will instead release it at the same time that it makes the information available to other subscribers, under an agreement with the New York Attorney General's office, which is investigating the practice of releasing data early to clients that pay extra for advance notice.
The AG's office said in a statement that the two-second early release allowed HFTs to gain an "unfair advantage" and act on the information before it is generally released, creating a "distortion" in the securities markets.
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