Wall Street vs. Main Street: Real time quotes for the average investor

The New York Stock Exchange (NYSE:NYX) has just announced plans to test a pilot program to offer real-time stock quotes to internet users. This is now the next battle in the long war between Wall Street and Main Street.

In the past, Wall Street had a monopoly on current information on the financial markets. You could read a newspaper to get closing quotes from the prior day on most of the financial markets. However, if you wanted current prices, you had to go to an investment professional.

The next stage in the revolution was the development of the financial news channels on the cable networks. You could get market information all day long. During the 1990's, people were literally glued to their television sets.

The next stage was the development of the financial web sites on the internet. Now you could get market quotes on a delayed basis whenever you wanted.

However, Wall Street still had a 10-15 minute advantage. This edge is about to disappear with the new pilot program offering real time quotes.

The professionals on the Street still have other advantages and numerous ways to make money. However, the ongoing democratization of the financial markets continues.

Doug Roberts is the Founder and Chief Investment Strategist for FollowtheFed.com, an independent research firm focusing on investment strategies using the Federal Reserve's impact on the stock prices. He previously held executive positions at Morgan Stanley Group and Sanford C. Bernstein & Co.