CCTV Script 07/09/13
— This is the script of CNBC's news report for China's CCTV on July 9, Tuesday.
Welcome to the CNBC Business Daily.
Thomson Reuters pulls the plug on the early release of its closely watched consumer sentiment data. This as the New York Attorney general opens a probe into the early access some of the world's top financial data providers have been giving their elite clients.
CNBC's Eamon Javers, who first reported this story, has more.
[ Thomson Reuters announced it is suspending its early release program that is a program involving the University of Michigan consumer sentiment data whereby Thomson Reuters released the information 2 seconds early to an elite group of clients ahead of a broader release day at 9.55am. Thomson Reuters here saying that it is cooperating with an investigation by a New York state attorney general Eric Schneiderman and they say they have done this voluntarily but at the request of the New York state attorney general. Meanwhile Thomson Reuters defends the practice generally although they have suspended this in case here's their statement, they say.
"Thomson Reuters strongly believes that news and information companies can legally distribute non-governmental data and exclusive news through services provided to fee-paying subscribers."
Meanwhile Schneiderman himself gave out a statement as well. Here's what he said: "The Securities markets should be a level-playing field for all investors and the early release of market-moving survey data undermines fair play in the markets"
Now guys I can report to you that the source familiar with the investigation tells me that this investigation will be broader than just Thomson Reuters and what they are looking at here is a wider array of early trading opportunities based on timing disparities in terms of the release of information. So that could have broader implications for groups and entities that release economic survey data and also for high speed news and data feed services. ]
Li Sixuan, from CNBC's Asia headquarters.