You've heard of VWAP, and TWAP. Now, prepare yourself for NWAP - that's news average weighted price and it is a measure becoming more popular among hedge funds as news agencies provide news feeds that algorithmic trading systems can read and react on in a matter of milliseconds.
And, as Richard Brown, Reuters Newscscope business manager explains, milliseconds do mean money.
the main players
Reuters launched Reuters Newsscope Archive in November - an archive of algorithm-readable news stories wi