Markit offers machine-readable PMI data to HFTs

Source: Markit

Markit, a leading, global financial information services company, today announced that its market-moving Purchasing Managers' Index™ (PMI™) data will be available via Thomson Reuters News Feed Direct, an ultra-low latency feed of machine readable news designed specifically for algorithmic and high frequency trading.

Delivered over Elektron, Thomson Reuters' high-performance global infrastructure, the PMI data on News Feed Direct will be released simultaneously in the firm's hosting sites worldwide, which will enable customers to trade on this important information anywhere they conduct business.

The Markit PMIs are leading indicators of business and economic conditions and drive a wide range of markets including equities, foreign exchange, fixed income and derivatives. Markit uses the same methodology across all its PMIs, making these indices the most timely and internationally-compatible economic dataset available each month.

Luke Thompson, Director and Head of Markit Economics at Markit, said: "We are delighted that our PMI data set is now part of Thomson Reuters News Feed Direct, the leading economic news service, and is available to a broad audience of market participants through Elektron. It highlights the increasingly important role that PMIs play on international financial markets and ensures that our data are distributed to as wide an audience as possible, including algo and high-frequency traders."

Rich Brown, Head of Quant and Event Driven Trading, Thomson Reuters, said: "Trading firms worldwide are incorporating a broader variety of news and event data into their strategies, particularly leading macroeconomic indicators that have the potential to move markets. The exclusive low-latency delivery of PMI headline and sub-index data through News Feed Direct will allow firms to plug this information directly into their trading strategies, and be the first to respond to these releases, which provides a real competitive advantage. This launch is part of Thomson Reuters continued effort to deliver the most comprehensive set of content and analytics to the market."

PMI data will also be available via Thomson Reuters' next-generation desktop Eikon.

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