January 19, 2011
News Corp. subsidiary Dow Jones & Co., which publishes The Wall Street Journal, Dow Jones Newswires and MarketWatch, said Tuesday it will launch a new real-time information service targeted toward foreign exchange traders in the coming months.
DJ FX Trader will provide news, data and analysis to better direct
users’ market and currency trading strategies. The application
will aim to provide access to breaking foreign exchange news ahead
of the broader market. The company is launching the service as
the boom in currency trading is expected to continue from $4
trillion a day currently to $10 trillion by 2020, according to
Dow Jones said institutions globally today spend more than $1.7
billion annually for currency news and information, according to a
Burton-Taylor International Consulting LLC study.
“The House of Medici made money from foreign exchange – in our age, it will be Dow Jones,” said Robert Thomson, editor-in-chief of Dow Jones and managing editor of The Wall Street Journal. “Currencies were once merely a measure, but they are now a global asset class.”
Dow Jones’ team of 2,100 journalists in 90 bureaus includes 100 journalists dedicated to covering news vital to foreign exchange markets. The foreign exchange news team will be led by Jim Pensiero, deputy managing editor of The Wall Street Journal, Gabriella Stern, managing editor of DJ FX Trader, and Rick Stine, senior editor of Dow Jones Newswires.
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