Thomson Reuters suspends early data access
THE ASSOCIATED PRESS July 8, 2013 8:00AM
Updated: July 8, 2013 8:00AM
Thomson Reuters is suspending its practice of distributing results from a twice-monthly survey of consumers a couple seconds early to clients who pay extra for the premature access.
The news and business information provider says it will simultaneously distribute survey data at 9:55 a.m. starting Friday.
The New York State attorney general has been investigating the issue.
The University of Michigan conducts the survey, and Thomson Reuters pays for exclusive access to the results. Some of its clients have been paying extra to receive the data two seconds before everyone else. This allows high-speed computers to make trades before others gain access to the data.
Thomson Reuters says it is cooperating with the investigation. It says it believes that companies can legally distribute non-governmental data and exclusive news to fee-paying subscribers.