Using professional financial data services is very important since you can have opinions, news and even social media analyzed on your behalf. The analysis is very helpful in guiding you through the financial markets and in making investment decisions. When you have all the information you need from across equity markets, you will be better placed to make a good decision getting the most value from your investment.
The service providers have their own effective ways and tools of finding out everything there is to know from the financial markets to keep you updated. However, there is need to make sure that the kind of data you are getting from your provider turns out to be more convenient and beneficial to you as a trader. A good provider should offer you data through customized data feed that is suitable for algorithmic trading, if at all, it is to add any value to your investment. Here is what your data should contain to be most valuable.
Platform agnostic – Your service provider should have an API that can work with all given platforms as well as all programming languages. It ensures that no trader is shut out and you can work effectively from any given platform. Consider how possible this is when choosing your service provider.
Low latency – Financial data is very important to any serious trader or investor and so there should be very low time delays in the process. The time between which the data is acquired, analyzed and made available to you should be as low as possible. Time is of the essence in any kind of trading and investing and hence you should get feeds as soon as information is got so you can take important steps in time.
Categorization – Considering that the financial market is huge, data categorization is very important and you should get this from your data provider. APIs that are organized as sector, industry, exchange and equity will be most beneficial at any given time. This kind of data categorization gives you an easy time picking on areas that are most relevant and interesting to you compared to having to go through the huge volumes of data before finding what you are looking for.
Analysis – Besides making the most important information available to you, your financial data service provider should be in a position to offer proper data analysis to make it easy for you to digest. From the analysis, you should be able to access velocity, trends, sentiments, time series and impact data for every market and equity. The detailed analysis will give you a smooth pleasant experience handling your decisions and investments at large.
Standards – The way you receive your data ought to be the best possible. The interface should be friendly enough for you and even make it possible for you to interact and get responses to what you are interested in. Apart from getting instant data updates and notifications, your provider should make it possible for you to find out more of whatever you are interested in by providing a platform that gives you nothing short of this.