NASDAQ OMX Group has acquired the business of RapiData, a provider of machine-readable economic news to trading firms and financial institutions.
Through this acquisition, NASDAQ OMX will offer economic news in machine-readable format to trading firms, asset managers and investment banks.
RapiData delivers dozens of US government and other economic indicators to a variety of market participants, giving them instant access to events that are incorporated into algorithmic trading systems.
NASDAQ OMX said RapiData has access to over 36 US economic indicators and other economic data, representing a wide variety of information including statistics from the Departments of Labor, Treasury and Commerce.
NASDAQ OMX Global Data Products senior vice president Brian Hyndman said that with the acquisition of the RapiData business, NASDAQ OMX will deliver key economic indicators directly from the source, using their industry-leading technology.