For traders who live by the economic calendar and for anybody trading the markets, it’s important to get the news fast. And almost all retail traders cannot afford a Bloomberg Terminal or any other high end system.
An interesting offering has recently joined the scene, and it aims to offer accurate, curated, quick and attention grabbing breaking economic news to traders at no cost.
Dynex Solutions is the company behind the newsimpact.com website. They offer services such as SpikeCharts and Mobile Alerts. Their most recent service is the real time news widget.
What’s in the box?
The service keeps things clean with a simple and mobile friendly layout that clearly shows these basic data pieces: the name of the event, it’s 3 tiered level of importance (which uses the common yellow, orange and red code colors) The second row consists of the actual outcome, the forecast, the previous figure, the revision and the deviation, which is the most important number.
This layout is common to many calendars, and the difference is that the NewsImpact widget is concise and be left open on the sidelines of one of the trader’s screens. The time of the events is show in local time as well as using the time in Sydney, London and New York.
The simple layout also helps in the quick delivery of data. In addition, the company uses a sophisticated messaging architecture which provides low latency and accurate transmission.
Voice notifications: NewsImpact offers voice notifications (which can be opted out from). They offer a “heads up” alert before the actual release. You can see a demo here.
Gaining traction fast
The company has been rolling out this product to its existing user base since November 2014 and it is out in the open since February. Word of mouth has helped it gain traction. The business model is offering the service as a white label to institutions.
The business of real time notifications is certainly a busy one. The clear advantage is the simplicity and speed that the product commands. The widget is easy to understand at the first glance and it shouts out the news. So, it is certainly a powerful tool for news traders or for those inside a trade.
For those making research, the simplicity is a disadvantage, and there are certainly other tools that allow analysts to dive into the data, historic releases, revisions, changing impact, understanding why it is important, general economic situation of the country, etc.
All in all, this is a great tool that could certainly be useful for real time trading and deserves a respectable place in the world of economic indicators.
You can launch the widget here.
Share
