Customers who paid extra will no longer get an early look at the University of Michigan’s consumer confidence survey, thanks to a deal between the university and Bloomberg LP. Thomson Reuters, which currently distributes the information, used to grant access to the data two seconds earlier to some paying customers, which was a large advantage for some traders.
New York’s attorney general, Eric T. Schneiderman, investigated the early-release practice and earlier this year struck an interim agreement with Thomson Reuters to end it.
The peeks will stay on ice for at least five years starting next January, Brody Mullins reports for The Wall Street Journal. Bloomberg “said it would end the practice of charging investors a fee in exchange for an advanced copy of the survey,” Mullins writes.
Bloomberg News will get the data in advance, “in a secure lockup facility at Bloomberg offices to report on the numbers and provide context,” a Bloomberg spokesperson told Poynter. Read more