After a soft launch period, Nasdaq.com has taken the wraps off of its Market Stream product, a free tool for its users that aggregates information from around the Internet about specific stocks.
The app is built on the technology of a company called Echo, a provider of white label ‘stream’ solutions that allow other firms to build applications that take in large amounts of real-time data, and convert it into a feed that users can read, and digest. The financial markets, naturally, are a decent fit for such a product.
At the current moment, Market Stream works only with corporate ticker symbols, but will eventually expand to other inputs. Here’s a screenshot of the current product in action:
Obviously, curation is taking place. TNW asked Echo how that worked, and were told that a combination of profanity filtering, resonance measuring, and other tools were employed to take the noise and convert it into the relatively sedate above signal.
Its official press release notes that Market Stream’s feed is comprised of “real-time data, news, and social commentary.” In current practice, that generally means tweets.
Financial news is increasingly a game of speed, as high frequency traders push the limits of what can be done in a halved split second. However, not all decisions are that quick, but timely information is as valuable as always. That’s where Market Stream, in my view, is looking to find its userbase: individual investors who enjoy tracking the markets on a granular level, but aren’t going to spring for their own Bloomberg Terminal.
I ding the service on its interface, which feels cluttered, and a bit loud. The same information could be displayed with fewer pieces. On the whole, it’s nice to see Nasdaq.com, which as its own entity is an ad-based business, turn out a real-time tool that is a good fit with the core element of modern financial transactions: speed.
Market Stream is live now, if you are the investing sort.
Top Image Credit: bfishadow