Instinent, Island and Archipelago have agreed to supply real-time quotes to Yahoo! Finance users.
The new service enables Yahoo! Finance members to view real-time ECN quotes for individual and multiple stocks, as well as for their investment portfolios.
Tim Sheehan, director of production, Yahoo! Finance, comments: "Together with Instinet, Island and Archipelago, Yahoo! offers the only free service that gives consumers access to real-time, aggregated ECN quotes on their favorite stocks and portfolios."
For Instinet, the deal with Yahoo! marks its first foray into the retail market.
John Oddie CEO, global equities business for Instintent says the company is about to embark on a six-month data syndication spree. "Instinet has made a business decision to disseminate its market data to a broad audience and make it available to the marketplace...We are proactively forging relationships with portals, e-publishers and information providers who will publish our trading data via a variety of distribution channels."
For Yahoo! the provision of financial information is viewed as an important weapon in its efforts to boost the stickiness of its site. The portal recently announced plans to deliver an online account aggregation service courtesy of S1 subsidiary VerticalOne.