Dow Jones News and Archives for Algorithmic Applications

i have been searching around and quality news archives seem to be hard to find - i am not prepared to pay for the institutional product level, at this stage... - does anyone use a service which has archived data? or any other recommendations for a similar product?


"Dow Jones News and Archives for Algorithmic Applications” UnveiledDow Jones Proves the Past is Future with Electronic News ArchivesNEW YORK (April 24, 2006) — Dow Jones Newswires, the leading provider of real-time market-moving news and information today announced the launch of Dow Jones News and Archives for Algorithmic Applications (Dow Jones News Archives). The new solution enables banks, securities firms and hedge funds to incorporate Dow Jones news into their quantitative models and computerized trading strategies, for the first time ever.
To date, algorithmic trading applications have been limited to tracking and analyzing pricing data such as stock, bond and currency movements. Now, Dow Jones News Archives offers traders and quantitative analysts a comprehensive store of Dow Jones news, with a real-time feed to update the archives and facilitate algorithmic trading.
The initial release of Dow Jones News Archives includes every headline, article and update available from Dow Jones & Co. over the last five years, including Dow Jones Newswires, all editions of The Wall Street Journal and Barron’s. Items from the last two years are time-stamped to the millisecond, providing precise data for trading models and programs. An eight-year version of the Archives will be available in May, 2006, and the unprecedented solution will ultimately include twenty years of Dow Jones news and information. Dow Jones News Archives is expected to provide significant advantages to financial organizations in the areas of risk management, arbitrage, and pre- and post-trade analysis.
“Algorithmic traders have long known that Dow Jones headlines can move markets but have struggled with feeding anything but raw numbers into their black boxes,” said Paul Ingrassia, president, Dow Jones Newswires. “Dow Jones News and Archives for Algorithmic Applications solves that problem, offering the trading community its first comprehensive news archive.”
Dow Jones News Archives facilitates back-testing of the news by traders and analysts, and the rules generated can be applied to the real-time Dow Jones news feed. Customers can take delivery of the archives in