Dow Jones is re-doing the way it distributes news feeds.
Tradable, the new online trading app platform, announced today a major win as Dow Jones will develop a news app based on its leading FX Select news service, exclusively for the tradable platform.
Tradable’s vision, of having traders access information and tools such as charting, news, signals and networking via a best-of-breed series of apps developed by third parties, is beginning to take hold with apps such as the new Dow Jones one coming to its platform. Last week we saw Netdania launch a new trade-from-the-charts app on tradable.
We also recently saw Bloomberg launch an app store of its own, enabling third party apps to be distributed via its network of more than 300,000 Bloomberg terminals worldwide.
And speaking of Bloomberg, Dow Jones’ new CEO Lex Fenwick was a career Bloomberg executive (and a big believer in the sell-direct-to-the trader strategy), and is taking Dow Jones and its FX products in a very new direction. After Mr. Fenwick joined Dow Jones last year nearly all of Dow Jones’ senior FX products marketing people were let go.
Previously, Dow Jones focused on selling its FX news and data feeds to brokers and institutions, to be integrated into those companies’ platforms. Now, it seems as though Dow Jones wants a much closer relationship directly with the end-users of its news and data, that is the traders — either by selling them Bloomberg-like terminals and then news/data via that platform, or via apps which traders will use such as this new one for the tradable platform. In implementing this strategy, we also understand that Mr. Fenwick and Dow Jones will focus more on the Wall Street Journal brand than on the Dow Jones brand.
For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.