The government's release of data that has the potential to move markets is an important issue to FIA PTG members. Delays and inaccuracies are problematic for everyone because they decrease confidence in the fairness and integrity of our markets. That’s why FIA PTG advocates for accurate and simultaneous release of all government released data.
A Wall Street Journal article has called attention to a delay that is causing a lag between when information is released via direct feed and when it is posted to the SEC’s website. Each government agency has its own data release procedures and different venues in which the data is made available. Different market participants may prefer to receive this data in different ways. But there can’t be a question of accuracy or timeliness of government released data—each agency should make all data available simultaneously and instantaneously on whatever venues it utilizes.
In a letter to the CFTC last year, we highlighted the importance of releasing public data at the same instant. We also recommended that each government agency that releases market-moving data should clearly explain the mechanics of its release procedures, including the role of media agencies that distribute data. Greater transparency on data release procedures will reduce confusion and improve confidence in our markets.
Market participants need to have confidence in public data releases in order to make sound decisions, so FIA PTG will continue to advocate for fairness and transparency in our markets.
