Goldman Sachs has decided to try and remove the middleman when distributing its' financial data. This isn't such a surprise after recent hackers allegedly infiltrated newswire services to gain early trade data. When market-moving information finds its way to the wrong people, or to the right people at the wrong time, it is understandable that financial institutions like GS would want to limit its sources of data distribution.
Robert Gray, chief executive of PR Newswire, said: “Press-release distribution is designed by its nature to reach a broad audience, beyond those who may follow a company’s website or social media and may derive market advantage by doing so. The recurrent news of hacking incidents makes it clear that no technology or system—not even those of our leading financial institutions—can be immune to penetration.”