Reuters Bangalore blunder releases market data a day early
05 July 2005 | 7405 views | 0
Reuters was left embarrassed yesterday after staff at its Bangalore data centre accidentally released market-moving data on the service sectors across Europe more than 24 hours early.
According to a report by British broadsheet The Guardian, the research reports on service sectors across Europe were due to be released this morning, but news stories based on the data appeared on Reuters' screens around the City at lunchtime yesterday.
Reuters only discovered that the data had been mistakenly published on its system at 7.45am when a client rang to check if the information was genuine. Reuters then agreed with NTC Research, the firm which compiles the data, to release the information to everyone.
Reuters admitted the error at 1.15pm when it warned clients that data for the June services [purchasing managers' index] series for the euro zone, leading euro zone nations and the UK had been released inadvertently before scheduled publication.
The vendor told Guardian reporters that one of its 600 employees at its Bangalore data centre had mistakenly released the surveys a day early.