The SEC posts a bunch of corporate regulatory filings on the web, through EDGAR. The way things are configured now, certain people can pay $1,500/month and get early access to these filings, before they are posted through EDGAR. Early access may only be 10 seconds.
“SEC to Close Gap in Filings’ Release,” Wall Street Journal, December 27, 2014 B1. The SEC is working to close this gap, which gives those people with early access an edge on the rest of the market.
In calculating the value of information, how much of a role does timeliness play?
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