I'm interested in the impact of a press release on related stock prices. The reliability of the timestamp is also important to me.
Of course, an important point here is the realtime latency of a platform, i.e. how many (milli)seconds pass from the publication at the source until this message reaches its destination. This is not the main aspect I'm looking for, but rather: How accurate and precise are the timestamps (creation, modification, publication...) that are attached to a news message, e.g. a press release? Imagine using the data in a scientific publication, then the data points used in a graph should have error bars (better: a standard deviation) on the t axis.
- https://www.reuters.com/business/energy/bps-head-crude-trading-wise-retire-sources-2022-08-02/ says 5:19 PM GMT+0 at the top. I received this via TradingView, which says the timestamp is 1659460510 which is equal to Aug 2 2022, 17:15:10 GMT+0. This is approx. 4 mins earlier, and also, the given precision is higher (seconds instead of minutes).
- https://seekingalpha.com/news/3864970-just-who-is-amtd-digital-and-why-have-its-shares-climbed-15000-since-mid-july says 1:45 PM ET. TradingView says 17:45:12 GMT+0, which works out - again, higher given precision.
- https://www.wsj.com/livecoverage/stock-market-news-today-08-02-2022/card/pinterest-shares-surge-premarket-on-elliott-stake-qODDsiw8TtbMHaCMcLwH says 7:18 AM. I got this via IBKR and it says 7:18:00, so it checks out.
- https://seekingalpha.com/news/3864533-pinterest-surges-20-as-elliott-moves-in-susquehanna-upgrades-citing-new-catalysts says 7:21 AM ET. IBKR says 7:21:07.
- https://www.wsj.com/articles/moderna-revenue-rises-on-strong-demand-for-covid-19-vaccine-11659527439?siteid=yhoof2 says 9:30 AM ET. Yahoo Finance also shows this https://finance.yahoo.com/m/e24b0950-99ec-379e-a8e7-814f5df7e7dd/moderna-profit-falls-amid.html and displays the same time.
- https://www.accesswire.com/710670/Moderna-Reports-Second-Quarter-2022-Financial-Results-and-Provides-Business-Updates is the original press release and says 7 AM (ET, as far as I can tell). In IBKR, I see that Dow Jones Global News immediately (=07:00:00) republished Net, Rev and EPS as three separate "headlines" as well as the full balance sheets and the original press release. Then, Reuters publishes the original press release at 07:00:13 (that is: thirteen seconds later). DJ Global News then publishes additional "headline style" information at 07:01:00 and 07:02:00. Benzinga follows at 07:02:36 which reads as an automatically generated piece, StreetInsider.com does the same thing at 07:02:50. Benzinga says "ah wait, there is also a buyback announcement" at 07:02:51 and "also, advance purchase agreements where reiterated" at 07:03:19. SeekingAlpha at 07:08:30.
Can anyone explain to me how this works? E.g.
- Is there a standardized timestamp format for press releases (at least within an agency)?
- Are there typical latencies for premium platforms and "normal" brokers (Bloomberg Terminal vs. IBKR/Yahoo Finance)?
- Is the displayed date usually the creation date or the modified date or does anyone even care?