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Google to Offer Real-Time Stock Quotes
Apro+im writes "Today, Google announced that Google Finance will report real-time prices on NASDAQ-listed securities. While real-time stock quotes are not new, they have long encumbered with subscriptions, legal agreements, or pay software. This may be the first free source for real-time quotes."
Yahoo! does this already.
I got free real-time quotes with my E*Trade account readily enough. You do need to open an account and log in each time, and you do need to accept a legal agreement, but I don't think you need to actually pay for them.
The legal agreement was mostly "you can't sue us, or NASDAQ, or the NYSE or anybody, for giving you these quotes... and you can't, like, republish these to other people". It didn't seem excessive.
I guess Google will be more convenient than these, but it's not a huge deal. Besides, if you actually care about a 15-minute delay, you'll have your brokerage account open anyway.
The World Wide Web is dying. Soon, we shall have only the Internet.
Looking back on the google finance blog, they apparently went to the SEC and asked to get a feed straight from the source. I think it's gonna be as real time as possible
-Bucky
tons of subscription services will lose most of their user base overnight - not just the ones charging for real time quotes, but also all the free sites that only offer delayed quotes. It could even have implications for market as a whole, because a whole lot more amateur investors will be getting involved in watching real-time activity. Evil though they may be, it's hard to deny that google gets their product offerings dead-on nearly all the time.
If only the article contained this information...
First it was "15 minutes delayed" stock quotes being all the rage.
Now people are getting excited over "real time"? bah!
Give me "In 10 Minutes" stock quotes and I'll pay for that!
Is it true that more people vote for the winner of American Idol, than vote for the president? -Ali G.
While I know Google makes for good news, this story is in fact more about the exchanges loosening their grip on quote restrictions than it is a feel-good Google story.
Historically the exchanges have required anyone offering free quotes to delay them 15-20 minutes since a big part of their revenue stream derived from charging brokerages for real-time quotes. (Brokerages in turn only offered this service to their customers.) NASDAQ announced a deal to allow Google, the Wall Street Journal, and CNBC to show real-time quotes for free. Yahoo Finance announced a similar deal with a different group (BATS Trading) to phase free real-time quotes throughout its site also.
Looks like the internet continues to bring down barriers to information.
I feel a great disturbance on the Internet. As if millions of tenuous business models suddenly cried out in terror, and were suddenly silenced.
Perhaps the answer to the problem of teenagers dropping bricks from motorway and railway bridges is to sue Tetris.
Have you tried http://www.opentick.com/ ? It's not always free, but it's so cheap it's close.
The best you can do is make a psuedo-ai that can make guesses based on data. And again, no one's made a computer good enough at guessing that it makes money.
Hahahahahahahahahaha. PLEASE keep thinking that. How do you think companies like D.E. Shaw & Co. exist? Not to mention Goldman Sachs, etc.
The reason I get a paycheck twice is month, in part, is because you can create efficient algorithms to make money in financial markets. But please don't let that dissuade you from your obviously very informed opinion.
"Nature doesn't care how smart you are. You can still be wrong." - Richard Feynman
Wanna fight ? Bend over, stick your head up your ass, and fight for air.
As some of you may or may not know, Bloomberg provides huge amounts of financial data to investment banks/firms via "Bloomberg Terminals" that Bloomberg offers. These terminals are very expensive to the firms. Yet all they offer is information. Information is something that Google excels at. I've used these Bloomberg terminals and they aren't exactly technology that you'd think of as cutting edge for 2008. Data is often inaccurate and researching things on them is an art.
I've wondered if Google might just enter the financial data market strongly. Google knows how to deal with large amount of data better than many places that are somewhat stuck in the past.
Tibbon
tibbon.com
If only the article contained this information...
I think I can speak for everyone when I say that nobody who values their time RTFA, after all it's just superfluous details that aren't needed to post comments. In fact, based on a lot of the comments I read, I assume that many people are so busy they cannot even RTFS. This too is understandable to some extent since the summary is just a wordy version of the article title. This is, however, the first time I've met somebody who couldn't bother to RTFT.
Short version: RTFT.
"What do you despise? By this are you truly known." --Princess Irulan, Manual of Muad'Dib
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A few numbers vs. high resolution video...
We're talking about two entirely different beasts.
It's not just Google that's doing this. CNBC and the Wall Street Journal also started providing free real-time quotes today. MSN Money has been doing this for a while.
Granted, some of these require a subscription (MSN, WSJ)--a point noted by the submitter--but all of these services appear to be free-as-in-beer. I don't think a subscription is that big a deal; YMMV.
From what I can tell, CNBC doesn't mention either a subscription or a daily/monthly limit; I admit I haven't looked at their service in detail though.
How does Google make money at anything? They'll sell your eyeballs to advertisers.
how to invest, a novice's guide
While the formula may be hugely complex, if such a formula exists, it's kinda self destroying, because the stock market exists in a way because there is no formula.
That's the only part of the above posting that's true. There have been successful technical analysis systems over the years. The trouble is that once someone finds a working strategy for beating the market and uses it on a large scale, others notice and replicate it, and it becomes the market. There's also a failure mode where structured investment vehicles are constructed in such a way that they have a high probability of a continual small gain coupled with a small probability of a big loss, for a negative expectation overall. (See "Long Term Capital Management".)
So much programmed trading activity is going on that it's most of the market now. That's why the number of transactions has become so high.
The vast majority of investors should ignore the minute by minute blows of the market. At this time scale the market is literally a big roulette wheel. Virtually all day traders and every amateur who thinks they can reliably extract disproportionate gains out of the market long-term (i.e. more than they would by say, holding an appropriate mix of diversified indexes) are fooling themselves into making predictions on what essentially amounts to sheer randomness. Think I'm crazy? Do yourself a favor and read A Random Walk Down Wall Street and save yourself the decade it took me to figure out how the market works. You're welcome.
Coincidentally, Barrons.com announced free real-time quotes today too http://online.barrons.com/article/SB121237840349237093.html
eTrade has had free real time quotes with a free account for over a decade. For those that really want/need this information, it was not hard to get.
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It is good if you can avoid an account, even a free one, to get this information now, but this seems a little over hyped to be on
On occasion, I have seen quotes for FDRXX (money market fund) report 123,000%+ on finance.yahoo.com, so you still have to think once in a while, as wonderful as the Internet is, it is not perfect.
And to be a bit off-topic and rambling, it will not be technical hurdles that "kill" the Internet, it will be lawyers and legislators, mark my words.
This issue is a bit more complicated than you think.
The minute you can make a program that can do it, you have, essentially, a "forumla" for the stock market. Uhhhh... invest in a financial instrument that is made up of S&P 500 or Fortune 500 stocks and you're guaranteed to make money in the long term. That's why everyone compares their rate of return to the S&P 500.
The only reason you would lose money in the stock market is if the entire stock market is tanking or if you've put most of your eggs in one (poorly performing) basket.
[Fuck Beta]
o0t!
I used to produce infosystems for traders and equities researchers/promoters on Wall Street (and in Toronto) during the 1990s Bubble. When those brokers say "realtime", they are talking about delays that are under 1 second. They're talking about WANs, LANs and apps at both client and server that have next to no latency. Because for their hottest traders, the software that makes them $billions a day, any edge in faster info means beating the competition.
The time to hit a Google page of "realtime" quotes is going to be at least a couple seconds, to say nothing of how long Google takes to get them from the market infosystems (which could be under 1s, because Google is rich and smart). That's not the realtime that real brokers pay for. It's better than 15-minute delayed quotes, which is what you usually get for free. But let's not call something realtime that isn't, even if it's free. That's the kind of BS that made the 1990s Bubble such a catastrophe, despite the best infosystems to deliver it that money could buy.
--
make install -not war
You're just a little late to the party, brokers call theirs program trading, and hedge funds call theirs black box/anylitical trading. It's probably 60-80% of the shares traded on any given day.
Degaussing scares the bad magnetism out of the monitor and fills it with good karma.
I thought the whole point of the delay was so that we don't reproduce the crash that happened in what? '87? Which was exacerbated by real time software being triggered to sell in a downward spiral after the stock market had dropped a certain amount.
I need to confirm that, but is that only the rule for NYSE, or US exchanges as a whole?
Guess you missed the end part where Yahoo said:
Quote data delayed 15 minutes for Nasdaq, 20 minutes for NYSE and Amex. Real-Time continuous streaming quotes are available through our premium service....that doesn't strike me as free and real-time.
not just talking about yahoo, although they provided them years ago but were forced to discontinue them a few years ago."Forced" by whom, and how?
Don't tell me to get a life. I'm a gamer; I have LOTS of lives!
Except that it is done on a regular basis by a lot of people. Technical analysis is basically the field of automated stock trading techniques. Granted, many technical traders don't have a program do the buying and selling, but many do.
... in which case you are still wrong. Arbitrage trades exist in many markets, but you'd better make sure you have the lowest latency connection to the exchange.
Unless you meant that it can't be done in a way that guarantees a profit
For the most part, market makers have to be daft to not make money. And there are computerized market makers.
hate to reply to my own post - after digging through 570,000 ads for ticker software (what the hell?) I find that I was misinformed.
The NYSE has "breakers" in place that close the markets after certain percentage drops so that auto-trading won't continue the downward spiral.
external link to definition of "Rule 80b"
You are wrong. It is free, it is real time: "Quotes delayed, except where indicated otherwise." During trading hours most quotes are real time. Press release: http://www.sfgate.com/cgi-bin/blogs/sfgate/detail?blogid=19&entry_id=26853
Sig removed because it was obnoxious
It's been done. It's being done. I find it interesting that Renaissance Technologies' Nova fund, which is basically a computer program, from my understanding, some days makes over 10% of the total volume of trades on the NASDAQ.
Pound! Bang! Bin! Bash! is this a shell script or a Batman comic?
The stock quotes could be win or lose, but a video feed will always be entertaining.
Wanna fight ? Bend over, stick your head up your ass, and fight for air.
Are you reading the bottom of the same http://finance.yahoo.com/ page that the rest of us get?
They state clearly, once again, at the bottom of said page:
Historical chart data and daily updates provided by Commodity Systems, Inc. (CSI). International historical chart data and daily updates provided by Hemscott Americas. Fundamental company data provided by Capital IQ. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quote data delayed 15 minutes for Nasdaq, 20 minutes for NYSE and Amex. Real-Time continuous streaming quotes are available through our premium service.Unless you think they're yanking our chain, that's the disclaimer as of 3 minutes ago. Seems pretty clear, doesn't it? In addition, according to the page you gave us on the Yahoo quotes:
The data comes via a deal with BATS Trading, an independent exchange. While its information doesn't exactly dovetail with the quotes other bigger exchanges would provide for individual stocks, BATS is said to be pretty close.Pretty close? Good way to lose your shirt....
Don't tell me to get a life. I'm a gamer; I have LOTS of lives!
During trading hours the part that of their quote page that currently says "after hours" says "real-time" which is "indicating otherwise" when it comes to the disclaimer on the bottom.
But continue to be uninformed all you want.
The reason I get a paycheck twice [a] month
and ...
you can create efficient algorithms to make money in financial markets
If these algorithms actually worked, why would you need to be working for somebody else?
All post data delayed 15 minutes for Slashdot. Sigs are updated automatically, but will be turned off after 25 minutes of inactivity.
If these algorithms actually worked, why would you need to be working for somebody else?
I never said I was creating these algorithms. While that could be fun and interesting, I only have a recreational interest in financial mathematics. Those that actually work on methods to make money in this manner typically have PhDs in varying fields (engineering, math, physics).
I said that this sort of thing pays my bills because I work for a Wall St. firm that makes some of its money doing this.
"Nature doesn't care how smart you are. You can still be wrong." - Richard Feynman
I think that may have been you...
I took a second to look at both Yahoo! and Google's quote system compared to my Thomson machine (actual real time, tick by tick quotes, market depth, etc.) and neither gave true real time reporting of the consolidated tape. Google seems to go off of the primary market center only, which for a heavily traded stock isn't so bad. For something a little thinner you could be getting quotes that can be very misleading. Yahoo, well, I couldn't figure out where they were getting their quotes, as they were some times dramatically different to actual quotes. Long story short, be careful.
No smoking sigs indoors.