Free price data

[raf110]

I currently pay over £1,000 a month for bloomberg and reuters.I have had enough of paying various different data vendors for different info (FV only available on bloomberg etc). I am thinking of putting all the info below onto one site with live data and provide it for free.

Indices
Energies
Grains
Softs
Metals
Currencies
Livestock
Interest Rates
FX Spot Rates
FX Forward Rates
Share Prices All UK, US, & EURO exchanges
Futures Fair Values

It will cost me around £5,000 a month to do this but I can recoup the money through advertising and thus we can all enjoy free data.

Can you please advise if there is any other info I should include. And weather this is a good idea?

please bear in mind that I will provide this free and therefore don't expect market scans and other such goodies. I am looking into charting and this should'nt be a problem.

 

[raf110]

can anyone also suggest a name for the site.

 

[eminem]

freepricedata.com

youdontneedbloombergorreuters.com

likebloombergbutfree.com

betterthanbloomers.com

 

[raf110]

betterthanbloomers.com it will be.

I can really see the like of Barclays advertising now.

 

[eminem]

Well if a bank can call itself egg.com or smile.co.uk or if.com then......

my favourite was likebloombergbutfree.com, just to get up their noses a bit

 

[BBB]

Great idea Raf.

I sincerely hope this goes to plan, but you will be taking away a huge amount of revenue from the exchanges if you 're-sell' their data or publish their data. I think the rules dictate that free data must be delayed.

If it does work, I'd budget a little more for hardware costs - demand will be so huge.....

Be lucky.

 

[raf110]

BBB

Thanks for ur vote of confidence.

I will have to have exchange membership, or I can call the FTSE100 the free 100 and not pay them a penny. Ok I need to work on the name but its a start.

any suggestions welcome. Im thinking of calling the indices

UKTOP100
UKTOP200
USTOP30

& so on.

 

[jmreeve]

raf 110.

You will need to sign a data distributor license with each exchange and collect exchange fees from everyone that you distribute data to. The exchanges can come down hard on anyone that doesn't have the agreement as this is a major source of revenue to them.

 

[raf110]

like i said I will rename the indices so thats taken care of.

I have thought about the exchange data fee police and I think the way around that is that on certail stocks I will have to ensure the price is not identical to the exchange. This way I can say that i make the price around the exchange and therefore do not pay them.

from a puters point of view this could be difficult so I will have to let clients know which share price is different. If I choose stocks with large values and qoute 1p away from mkt it should not make a difference.

 

[jmreeve]

Just be very careful.

If one or more exchanges take a dim view of what you are doing and starts firing lawyers at you it could get very expensive.

 

[raf110]

cheers mate.

I'll have it checked out and than proceed.

 

[Dentalfloss]

are you sure you can let this data be veiwed by anybody ie copyright?

 

[raf110]

I have checked out the legal side and can offer the following;

Real Time Shares & Indices

FTSE 100 UKF 100
Dow Jones USD 30
Nasdaq 100 USN 100
S&P 500 USP 500
CAC 40 FRANC 40
DAX DEUT 30

15 min Delayed with graphs

Indices
Energies
Grains
Softs
Metals
Currencies
Livestock
Interest Rates


On the forex side as there is no real single price I have had a word with a number of banks and an looking to set up a system similar to SEAQ (only for majors) with 4-6 banks providing rates.

Let me know if this is still of interest. I don't want to spend alot of time and money if no ones interested, so your views are VERY welcome.

 

[dc2000]

Hi Raf110 looks like your not the only one with the same idea check out www.thetradingedge.co.uk for free charts etc

 

[anley]

Raf

Don't do it, it will be a disastor waiting to happen. As for recouping the £5,000 a month through advertising then this is a very tall order indeed.

 

[raf110]

I have given up on the idea, and decided to concentrate on what I am best at, Trading???.

Thanks