You might not expect a company nearly 160 years old to innovate its industry. Perhaps that's why Thomson Reuters is looking to developers to create the next big thing for financial professionals. To get there, the company is sharing mountains of data via its new Knowledge Direct API and offering $25,000 in prizes for its app contest.
The StreetApps Challenge provides several content sets related to Wall Street, including market data and news. The apps written in this challenge should be written to work on iPhone, iPad, Blackberry, or Android. Of course, they must also use at least one of the content sets, but can also combine it with other data.
The full list of content Thomson Reuters is making available:
- Market Data from global major exchanges and indices
- Company Fundamentals Data
- Wall Street Events (StreetEvents)
- Consensus Broker Estimates
- Reuters Online Reports for Financial News & Pictures
- Market-wide Significant Developments Updates
The prizes are a mix of cash, toys and visibility. First place will get $15,000 and an iPad. Second and third places take home $5,000 and $2,500. A "Popular Choice" award will be given to the winner of an online poll--that's worth $2,500 and an iPad. All four will be shown on the Thomson Reuters Jumbotron in New York City.
Reuters may seem like a stodgy old company, but its history is rooted in being innovative. Founder Paul Reuter took advantage of the new telegraph in 1851 to relay stock news between Paris and London, launching the company in the process.
Now Thomson Reuters (which acquired Reuters two years ago) is looking to you for the next innovation. What will you create with their finance data? For inspiration, see our 55 finance mashups.