Business

Conference Board fears diversion of economic data

WASHINGTON — The Conference Board will no longer provide its economic reports in advance to news organizations because it suspects the data are being diverted early to computer-driven trading systems, which could allow some parties to profit unfairly.

The private research group has long provided its monthly data to reporters 30 minutes before the information is publicly released. That has allowed journalists to get a jump on preparing news reports.

Advertisement

Starting Tuesday, the data will be released to everyone simultaneously.

‘‘We are taking this action because of indications that our embargoed data is being diverted, intentionally or otherwise, to computer systems that create an unlevel playing field for market participants,’’ the Conference Board said.

Get Business Headlines in your inbox:
The Globe's latest business headlines delivered every morning, Monday through Friday.
Thank you for signing up! Sign up for more newsletters here

The New York-based organization issues reports on consumer confidence and other economic indicators that can affect financial markets.

The Conference Board said one news organization reported it had inadvertently breached the embargo by fractions of a second by channeling the data to a trading system’s computer prematurely. The board did not name the news organization.

There was no evidence of improper trading on the board’s data ahead of its public release, but the board wanted to erase any public doubts.

Advertisement

Modern stock trading is dominated by automated computer systems that make trades in tiny fractions of a second. High-speed traders can profit from receiving data even milliseconds before its public release.

Loading comments...
You're reading  1 of 5 free articles.
Get UNLIMITED access for only 99¢ per week Subscribe Now >
You're reading1 of 5 free articles.Keep scrolling to see more articles recomended for you Subscribe now
We hope you've enjoyed your 5 free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com
Already a subscriber?
Your city. Your stories. Your Globe.
Yours FREE for two weeks.
Enjoy free unlimited access to Globe.com for the next two weeks.
Limited time only - No credit card required!
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.
Thanks & Welcome to Globe.com
You now have unlimited access for the next two weeks.
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.