Swordsmyth
01-16-2020, 06:30 PM
The U.S. Labor Department's Bureau of Labor Statistics (BLS) on Thursday announced changes to economic data "lockup" procedures, which would result in the removal of computers from its Washington newsroom effective March 1.BLS Commissioner William Beach said the changes were in line with recommendations by the Labor Department's Inspector General back in 2014, and was intended to keep data secure prior to public release, stay ahead of rapidly changing technology and remove the advantage of media in providing data to high-speed traders.
Media organizations, including Reuters News and Bloomberg News, send reporters to data "lockups" to prepare stories 30 to 60 minutes in advance of release, with the government controlling a communications switch to prevent an inadvertent early release.
"Developments in high-speed algorithmic trading technology now give a notable competitive advantage to market participants who have even a few microseconds head start," Beach said in a letter to bureau chiefs.
More at: https://news.yahoo.com/u-labor-department-remove-computers-171218067.html
Media organizations, including Reuters News and Bloomberg News, send reporters to data "lockups" to prepare stories 30 to 60 minutes in advance of release, with the government controlling a communications switch to prevent an inadvertent early release.
"Developments in high-speed algorithmic trading technology now give a notable competitive advantage to market participants who have even a few microseconds head start," Beach said in a letter to bureau chiefs.
More at: https://news.yahoo.com/u-labor-department-remove-computers-171218067.html