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Nasdaq web deal for 'live' prices
03.06.08
New York's hi-tech Nasdaq stock exchange is to sell real-time share price data to popular small-investor websites such as Google Finance, spurring hopes that the London Stock Exchange may soon follow suit.
Currently, the millions of small investors who use the internet to follow share movements have to endure a delay of up to 20 minutes for updated prices, but, at least in the US, that is changing.
Nasdaq has signed a deal with Google Finance, CNBC and the Wall Street Journal websites under which they will pay the exchange up to $100,000 (£50,000) a month for a live feed. For a further $50,000, they can get New York Stock Exchange and American Stock Exchange prices as well.
The deal comes just a week after Yahoo Finance said it would provide real-time prices for all US stocks.
Yahoo's real-time quotes from all US stocks are provided free by BATS, a third-party share-exchange.
On top of the fees, Nasdaq hopes the move will boost trading volumes.
