Google (GOOG), et al, rang the bell at NASDAQ this morning to celebrate the launch of real-time stock quotes from NASDAQ.
Why did Google choose to work with NASDAQ instead of BATS, the third-party share-exchange that is providing Yahoo’s (YHOO) free quotes? From what we hear, because Google, et al, don’t think BATS’s information is accurate enough. In testing, BATS’s quotes were sometimes off by more than a dime. (CNBC invokes the same logic when raving about their NASDAQ quotes).
(In fairness to Yahoo, BATS’s quotes are real-time, too–they just may be different than the contemporaneous quotes on the NASDAQ. Translation: Someone might be able to buy the stock for the real-time quote you see on Yahoo–just not you.)
HOWEVER–and more importantly–Yahoo’s BATS quotes cover all stocks, not just NASDAQ stocks. In our opinion, this makes for a better user experience. We’d rather have semi-accurate real-time quotes for all stocks than “last trade” quotes for NASDAQ and 20-minute old quotes on NYSE stocks.