Nasdaq in deals to sell real-time market data
ju4 wa4i dia4n zo1ng he2 ba4o da4o :\n  NEW YORK, June 2 (Reuters) - Nasdaq OMX Group Inc <NDAQ.O>\nsaid on Monday it has begun selling real-time share data to the\nwebsites of Google Inc's <GOOG.O> Google Finance, cable\ntelevision network CNBC and News Corp's Wall Street Journal\n<NWSa.N>.\nUntil now, Nasdaq has been providing quotes on a 15-minute\ndelay basis.\nUnder terms of the initiative, dubbed "Nasdaq Last Sale,"\nthe three websites will pay Nasdaq up to $100,000 a month to be\nable to provide stock quotes to their users. The agreement\ncomes a week after BATS Trading, a fast-growing trading venue\nthat handles 9 percent of U.S. equities, said it would provide\nits market data free of charge to Yahoo Inc's <YHOO.O> Yahoo\nFinance.\nThe Nasdaq arrangements will begin as a six-month pilot\nproject, while Nasdaq waits for definitive approval from the\nU.S. Securities and Exchange Commission for the right to sell\nmarket data to the sites for a fee, which it hopes to get\nwithin a year.\nThe move comes at a time when the major exchanges are\ntrying to squeeze as much revenue as possible from market data,\nwhich now makes up a larger share of revenue than equities\ntrading. At Nasdaq, market data generates 20 percent of\nrevenue, while at the New York Stock Exchange, the figure is 14\npercent.\nNasdaq says the exchange's high trading volumes make its\ndata more accurate, allowing it to charge a fee for a service\nBATS is providing free to Yahoo. Nasdaq handles about four\ntimes the equity trading volumes BATS does.\nA New York Stock Exchange spokesman declined to say whether\nthat exchange had similar projects in the pipeline.\nThe project will generate only modest revenues, said Adena\nFriedman, an executive vice president at Nasdaq OMX.\nBut Friedman expects it will strengthen Nasdaq's brand and\nwill indirectly lead to more trading on Nasdaq, as retail\ninvestors are able to react more quickly to market price\nchanges.\nGoogle Finance, launched two years ago and still far behind\nYahoo Finance in traffic, says its service targets retail\ninvestors.\nThe deal is not exclusive to these three websites, Nasdaq\nsaid.\n(Reporting by Phil Wahba; Editing by Andre Grenon)\n((phil.wahba@thomsonreuters.com 1 646 223 6128))\nKeywords: NASDAQ/GOOGLE