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Alexander J. Field : Stock Exchanges Historic Control of Data : Wall Street Journal
Tuesday, Feb. 22, 2011
Stock exchanges "newest" line of business--market data--isn't new at all, according to Alex Field, leading economic historian and Orradre Professor of Economics at SCU. He was recently quoted by a Wall Street Journal reporter writing about the pending merger of the New York Stock Exchange and Deutsche Borse AG.
Professor Field's research shows that as far back as the 19th century, the NYSE's predecessor controlled information through private telegraph lines, wrote Jason Zweig in "The Intelligent Investor." These private lines were "the direct ancestors of the 'co-location' and 'direct-data feeds' " which provide professional traders immediate market information.
Read the Wall Street Journal article here >>
Learn more about Professor Field here >>