Forbes.com Debuts Real-Time Market Data from BATS
Forbes.com will begin providing real-time market data from the BATS Exchange on its website today. The business magazine website has offered delayed quotes for U.S.-traded companies for several years and delayed international stock quotes for a year and a half.
"When the BATS exchange made data available for free and was trading at a volume that made those quotes relevant [in October, for instance, BATS had a daily average volume of 1.64 billion shares; in November, BATS announced that it had become a national securities exchange eligible to trade U.S.-listed securities], we wanted to offer users the benefit of having real-time data," says Jeff Bauer, creative director of Forbes.com. BATS offers real-time equity data free, unlike NYSE and Nasdaq, and Forbes.com is said to be saving hundreds of thousands of dollars a year by going this route.
Instead of doing the integration and setup work of connecting directly to BATS, Forbes.com is consuming the quotes as web services from Xignite. "Xignite gave us the ability to get this up and running quickly, without our having to put the infrastructure in place," Bauer says.
Xignite provides more than 50 categories of financial information as Web services that can be used on websites, wireless applications or portfolio management tools.