I'm no financial or legal expert, but by market moving I am referring to data that moves the aggregate market in a fairly predictable direction. If jobs or the consumer confidence numbers go up, the market follows and vice versa. If your system gets this data before everyone else you essentially have a money-printing machine (at the expense of everyone else).
If you report data that's valuable because the federal government uses it in monetary policy decisions, then just push it to your customers as soon as its available for a flat rate.
When a company intentionally holds back data to make money on an incremental time difference, I'm sorry, that seems scammy and unethical to me.
As to Bloomberg consoles, that seems like a slightly different case, but if they similarly tier, then it is also unethical IMO.
It sounds innocuous enough with absolutely no context, but the fact is that they are selling market-moving data, and they know it. They know exactly what staggered release of this data does: create an uneven playing field for all but the wealthiest investors. This causes the creation of false profits that don't come from actual risk, or underlying value of securities, but by screwing retail investors, pension funds, and anyone else who doesn't start off with absurd amounts of money to begin with. Sure sounds unethical to me.
If you report data that's valuable because the federal government uses it in monetary policy decisions, then just push it to your customers as soon as its available for a flat rate.
When a company intentionally holds back data to make money on an incremental time difference, I'm sorry, that seems scammy and unethical to me.
As to Bloomberg consoles, that seems like a slightly different case, but if they similarly tier, then it is also unethical IMO.
Don't pit your customers against each other.