By
Margaret Hartmann,
senior editor for Intelligencer who has worked at New York since 2012
The parent company of Truth Social just launched Truth API, a service that provides a “direct, licensed, real-time feed of the platform’s most market-moving Truths,” according to Trump Media & Technology Group interim CEO Kevin McGurn. Basically, a handful of Wall Street traders are paying as much as $100,000 per month to get access to Donald Trump’s posts within milliseconds, as my colleague Matt Stieb explained:
That may not sound like a six-figure product to a normal person. But to high-frequency traders buying and selling at the fraction of a blink of an eye, it could be worth the investment. Trump makes news on Truth Social. And now a company he owns 41 percent of is selling that news to Wall Street so it can act on it before anyone else can. High-frequency traders need this data fast to be able to win a game where the first computer to get the new info in their algorithm wins. In the world of the HFT, “speed becomes the tiebreaker,” says trader Haim Bodek.
