Do you have a spare $100,000 a month? No? Well, Google Finance, CNBC, and the Wall Street Journal apparently do. That is the cost to offer real-time NASDAQ quotes to their readers and viewers. NYSE and AMEX quotes would cost an additional $50,000 per month, but they haven’t done that yet. You are probably asking yourself what caused these companies to do this?
On May 28, Yahoo! Finance announced a deal with BATS Trading to provide real-time quotes. However, in Yahoo’s case BATS is not charging them. Furthermore, BATS only offers 9% of US equities in real-time. They are a fast growing competitor to NASDAQ which probably facilitated the NASDAQ/Google deal. Google Finance and Yahoo! Finance have been slugging it out for some time. I have to give the advantage to Google Finance now with NASDAQ real-time quotes. We are the winners in this battle of Internet titans.
Google Real-Time Quotes
- Dow Jones Indices
- NASDAQ Indices
- NASDAQ Stock Exchange
- New York Stock Exchange Indices
- S&P Indices
- Shanghai Stock Exchange
- Shenzhen Stock Exchange
June 9th, 2008 at 7:51 am
Good morning.
I would like to correct a misconception from your story. BATS actually offers 100% of U.S. equites in real-time. We receive and publish quotations in 7,000 - 8,000 stocks every day. Your statement that we only offer 9% of U.S. equities in real-time isn’t true.
What you were probably trying to say is that BATS matches 9% - 10% of all the nation’s executed volume each day. On an apples-2-apples comparison, Nasdaq matches 28%, NYSE matches 18%, and Arca matches 16%.
In other words, BATS, Nasdaq, and NYSE all offer all U.S. securities in real-time each day, and the relative market share between them is:
BATS 10%
Nasdaq 28%
NYSE 18%
NYSE/Arca 16%
Sincerely,
Joe Ratterman
Chairman & CEO
BATS Trading, Inc.
June 9th, 2008 at 3:45 pm
Sorry about that, Joe. I went back and checked the original article. You are obviously correct. The article says, “The agreement comes a week after BATS Trading, a fast-growing trading venue that handles 9 percent of U.S. equities, said it would provide its market data free of charge to Yahoo”. I misunderstood that to mean you only offered 9%. Thanks for the clarification.