US REGULATORS are reportedly investigating the relationship between financial data provider Thomson Reuters and the Institute For Supply Management (ISM) after sensitive market data was published before its official release.
Earlier this month, Thomson Reuters published data from the ISM, which publishes key economic indicators such as manufacturing statistics, a fraction of a second ahead of its official release. This gave Thomson Reuters clients an unfair advantage in the market, due to the fast-paced nature of today’s trading systems.
The ISM’s chief executive, Thomas Derry, told CNBC that the US Securities and Exchange Commission (SEC) had asked him to hand over information about the contract the two organisations share. The SEC and Thomson Reuters did not comment.