With a new proposal from the New York Stock Exchange to allow the use of real-time share prices, Google Finance and other sites may soon be able to give users free access to such data.
Google has been working with the Securities and Trade Commission (SEC) the New York Stock Exchange and NetCoalition to reach an agreement which will allow Google Finance to display real time market data free of charge.
Google Finance and other sites had displayed such real time data, until NYSE increased its fees. Google, Yahoo and other websites rejected a proposal from the NYSE to charge between $1 and $75 per unique visitor for real-time information.
Google has given its backing to the new NYSE proposal, which would allow finance sites to display real-time stock quotes and syndicate the content to others, at a cost of $100,000 (£51,000) per month.
Though it is not made clear in the statement, this deal would presumably extend to other websites displaying financial data.
ADVFN.com, a UK stocks and shares website which currently offers delayed data free of charge, would be one site who would benefit from the move.
Francesca De Franco of ADVFN says her company would welcome the move:
“If the SEC give the approval for NYSE data to be provided to retail investors for free, this is great news for all concerned.
Any business providing stock quotes would then be able to display this data on the same basis. We at ADVFN prefer free.”
Google Finance could use such a boost, as it is currently struggling for market share, with recent figures suggesting that Google holds just 0.78% of the finance category, compared with Yahoo’s 37.3%.