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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
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.
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
"tons" of subscription services will not lose most of their user base overnight as "tons" of subscription services offer more services than just "real-time quotes." Including research/reports, customer service, stock trading, etc... This is a non-issue.
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
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.
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.
/.
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.
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
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!
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