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Financial information |
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Market information |
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Industry information |
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| | Analyst's reports | | News reports and news bulletins | | Stock performance information | |
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Historical data |
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Back testing |
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Analysis by dozens of different studies |
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| | Real-time information | |
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Level I quotes |
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Level II quotes |
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Exchange quotes |
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Time and sales |
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Tickers |
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Grand companies have been providing this kind of information for years, but only to a selected group of other grand companies in the industry. Now ask yourself, why would any of these companies want to upset this fairly easyand very profitableway of doing business? Why would they want to start making this information available to the poor, pitiful public and run the risk of angering their long-standing, good-paying customer base? Why indeed? Well, many of them didn't. |
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Company information was available, but generally the public received information after the securities industry giants. Analysts reports were proprietary and off-limits except to customers. The public was at a disadvantage to institutional traders. News reports and bulletins were filtered through the brokerage houses or the TV and radio and then to the public. Again, the public was at a disadvantage. |
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So, a bunch of enterprising analysts quit the old firms to start new firms like "Zacks" and "Fly on the Wall" to cater to the public's insatiable need for company information and analysis. So today dozens of firms provide "real-time" news at sites all over the Internet. |
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Stock performance analysis was generally in the hands of the large trading firms. Today, firms like TradeStation and TC2000 bring those capabilities to the individual. |
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Quotes, time of sales data, and tickers were either very expensive or delayed fifteen minutes. The public was again at a disadvantage. Today, instant quotes and related trading data are readily available, often at no charge. |
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