Dow Jones and Revere Data Join Forces to Offer Enhanced News and Data Source
24 February 2010 - 1:45AM
PR Newswire (US)
Combination of News Information and Relationship Data Provides
Financial Professionals With a One-Stop Source for Uncovering
Hidden Trading Opportunities NEW YORK, Feb. 23 /PRNewswire/ -- A
new agreement between Dow Jones & Company and Revere Data LLC
provides traders an enhanced news source for analyzing and
identifying trading, investing and hedging opportunities -- and
allows them to move on that market information within milliseconds.
Now, electronic traders, quantitative analysts and risk managers
can gain a competitive edge by utilizing this combination of Dow
Jones's market-moving industry news and information with Revere
Data's Revere Relationships(TM) database. As a result of the
agreement, users of both the Dow Jones Elementized News Feed and
the Dow Jones News & Archives text feed can uncover trading
opportunities more comprehensively and quickly through integrating
The Revere Relationships(TM) database. This data provides
information on the interconnectedness of companies' relationships
through their suppliers, customers, competitors, partners, key
products, and locations as well as their business units and/or
subsidiaries. Traders can build models based on these
relationships, thereby uncovering opportunities which are not
easily accessible when tracking companies through the use of
conventional tools. The partnership allows traders to build models
that will give them unique insight into market activity as it is
happening. "Institutional sales and trading professionals are
constantly looking for an advantage, and the Dow Jones feeds paired
with Revere Relationships(TM) changes how news flow can be
accessed, interpreted, and utilized," said Joe Lanza, president of
Financial Markets, Dow Jones & Company. "Since investment
decisions are often highly dependent on the lag between events and
their interpretation, the combination of real-time news with
instantaneously available relationship information allows financial
professionals to make smarter and faster trading decisions by
gaining more comprehensive insights into markets before their
competitors do." "Overlaying Revere Relationships to the Dow Jones
suite of news products provides firms with an information edge in
understanding the context that a given piece of news has," said
Kevin E. O'Brien, chief executive officer, Revere Data. "Our
clients have been requesting this greater functionality --
specifically to understand how new information fits within a
network of relationships and assist them in uncovering and testing
investment ideas." The Dow Jones Elementized News Feed is an
ultra-low-latency feed that delivers economic and corporate news in
precise and discrete elements in XML-tagged fields. It eliminates
the need to parse unstructured text, allowing trading models and
computer programs to interpret and take action on breaking news
within milliseconds. The historical news and data available through
Dow Jones News & Archives for Algorithmic Applications is
organized with the same content and metadata fields as the
information in real-time feeds from Dow Jones, so users can easily
map breaking news to archival data on an ongoing basis. ABOUT DOW
JONES Dow Jones & Company (http://www.dowjones.com/) is a News
Corporation company (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV;
http://www.newscorp.com/) and a leading provider of global news and
business information. Its principal products include The Wall
Street Journal, Dow Jones Newswires, Dow Jones Factiva, Barron's,
MarketWatch and Dow Jones Indexes. Its Local Media Group operates
community-based newspapers and Web sites. Dow Jones also provides
news content to television and radio stations. ABOUT REVERE Revere
Data, LLC, is a leading provider of financial information services
that gives investors a better understanding of the cornerstone of
all great companies: the products and services they sell. Revere
goes deep inside companies to search, discover and classify their
products and services, their focused lines of business, and their
key business relationships. Products such as Revere Hierarchy(TM)
and Revere Relationships(TM) deliver a more precise and deeper view
of the market for thousands of publicly traded companies in the US,
Canada, China, Western Europe and Brazil. Revere offers a
comprehensive suite of data, online research, and index services
for the investment community. For more information, please visit
http://www.reveredata.com/ DATASOURCE: Dow Jones & Company
CONTACT: Media, Shannon Sullivan, Dow Jones Public Relations,
+1-609-627-2312, ; or Bill Mendel of Mendel Communications for
Revere, +1-212-397-1030, Web Site: http://www.dowjones.com/
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