Business Unit News
Dow Jones and Revere Data Join Forced to Offer Enhanced News and Data Source
Combination of News Information and Relationship Data Provides Financial Professionals With a One-Stop Source for Uncovering Hidden Trading Opportunities
NEW YORK, February 23, 2010 – 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™ 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™
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 RelationshipsTM 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 (www.dowjones.com) is
a News Corporation company (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV;
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™ and Revere Relationships™ 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 www.reveredata.com.
Contact:
Tiffany Richardson
Tiffany.Richardson@dowjones.com