Trump Media讨论向交易机构收取每月10万美元Truth API快讯费

Trump Media’s pitched fee for early access to posts
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Two scoops to start: There were mixed investor messages for the UK’s IPO market last week. AS Watson, the owner of UK high street chain Superdrug, is considering delaying its $30bn IPO until next year, while London-listed Airtel Africa has started hiring bankers for an IPO of its mobile money business worth £7.5bn.
In today’s newsletter:
Trump Media pitched $100,000 monthly fee for fast feeds
St James’s Place adviser exodus
BlackRock assets surge to a record $15.3tn
Trump Media pitched investors $100,000 fee for fast feeds
Donald Trump’s social media company, Truth Social, has discussed charging traders and investors as much as $100,000 monthly for faster access to the US president’s posts on his platform.
Trump Media & Technology Group has quoted the six-figure monthly sum in talks with prospective buyers of the “Truth API” data service, according to people familiar with the matter, write Samuel Agini, Costas Mourselas, Jill R Shah, James Fontanella-Khan and George Steer.
Proprietary trading firms and hedge funds pay huge sums for ultrafast data feeds because every millisecond counts when reacting to market-moving news. Trump often makes major announcements on Truth Social that trigger huge fluctuations across global markets.
The announcement on Thursday of the API product sparked a backlash on Wall Street as traders and investors digested the prospect of having to pay a company tied to the president for market-moving information.
“People will pay because they have to,” said an executive at a hedge fund. “If you’re behind on that news, you’ll get crushed.”
TMTG, which is majority owned by the Trump family, controls Truth Social. The company did not immediately respond to multiple requests for comment.
With 12.9mn followers on Truth Social, the president frequently posts updates on the biggest issues in current affairs, including the war with Iran and other geopolitical events, which regularly move financial markets.
Just before the Trump administration paused a host of tariffs against countries around the world last year, Trump posted on his Truth Social account that it was a “great time to buy”. The S&P 500 rallied 9.5 per cent in a historic one-day move for the index shortly after.
More recently, after the outbreak of the war with Iran, Trump posted on March 23 that there had been “very good and productive conversations with Iran”, sending oil prices falling sharply.
Social media platforms such as X also offer data feeds to algorithmic traders through financial terminals such as Bloomberg. TMTG expects the feed to provide coverage 24 hours a day and seven days a week.
“Milliseconds is a big deal in this world, high-frequency trading firms and systematic quant hedge funds would definitely want this product,” said the chief executive of a US market infrastructure company.
St James’s Place adviser exodus
St James’s Place, the wealth manager, has lost two of its largest advisory firms, taking with them billions of client money late last week. Another advisory group had already said it may also depart.
Prospera Wealth Management, based in Sheffield, and Wellesley Investment Management in West Sussex have both left SJP, according to the Financial Conduct Authority’s register.
Their exit comes just a week after reports that Sovereign Wealth, one of SJP’s biggest advisory firms with about £3bn of assets under administration, was also considering leaving the wealth manager’s network. SJP declined to comment, writes Emma Dunkley.
The three firms oversee £5bn of client money for St James’s Place. Its share price dropped nearly 10 per cent on Thursday and Friday following the news about Prospera and Wellesley.
SJP operates as a partnership, working with about 5,000 individual financial advisers who work at advisory firms across the country. As part of this structure, these advisory firms, also known as appointed representatives, can only sell SJP’s products and services.
SJP has been cutting costs and rebuilding its reputation under chief executive Mark FitzPatrick, who was appointed in 2023. After coming under scrutiny over its complicated and opaque fee structure, the firm restructured its charges last August — leading to lower upfront fees for financial advisers.
The flurry of departures comes as rivals continue to grow rapidly by snapping up advisers. According to Wellesley’s website, the firm is now in partnership with Sweden-based Söderberg. Söderberg declined to comment.
Söderberg, which counts former St James’s Place chief executive David Bellamy as a non-executive, provides wealth management, insurance and employee benefits. It has more than £100bn in assets under advice and is backed by private equity firms KKR and TA Associates.
The wealth management arm, which operates in countries including Sweden, Norway and the UK, has been hard at work recruiting financial advisers in recent months.
The FT revealed last month that Söderberg had struck a deal to acquire Schroders’ financial planning arm Benchmark Capital, which has £37bn of assets, for about £200mn, in another move to expand its footprint in the UK.
A person close to the situation said that SJP could still potentially retain clients and advisers from the departing firms.
BlackRock assets surge to a record $15.3tn
BlackRock brought in $192bn of funds in the second quarter of this year, as the bull run in equities swelled the assets under management at the world’s largest money manager to a record $15.3tn.
The influx of capital beat Wall Street forecasts and was driven largely by clients in the Americas and the group’s iShares exchange traded funds business.
BlackRock, like others across the asset management industry, benefited from booming capital markets, with a rally in global equity markets helping to lift the value of investments managed by the sector, writes Eric Platt.
“US equity markets continue to climb to new highs and returns are broadening beyond the US,” said chief executive Larry Fink. “We see great market fundamentals with higher corporate margins and earnings momentum catalysed by new technology.”
Fink said organic base-fee growth, the company’s preferred metric, which measures the increase of the management fees BlackRock earns, was 8 per cent in the quarter, above a long-term 5 per cent target.
BlackRock has expanded into higher-margin products, including active ETFs and private markets, as it seeks to move beyond the passive index funds that built it into the dominant asset manager globally.
Profits were also buoyed by BlackRock’s expansion into active ETFs and systematic funds, which look to outperform passive indices.
The company drew in $53bn to its active strategies in the quarter, bolstering the size of the business to $3.7tn. The active franchise has grown by almost $1tn over the past two years.
The inflows to active strategies offset outflows from funds that it earns lower fees from, including index funds on which it charges just a few basis points to manage. Institutional clients withdrew $41bn from low-fee index funds but pumped $44bn into more lucrative active strategies, the firm said.
Five unmissable stories this week
Good news for the private equity industry. Swedish buyout group EQT’s share price soared on Friday after the private equity group said it was seeing strong fundraising momentum. Its first-half results exceeded analysts’ forecasts.
Singapore is ready to battle with regional rival Hong Kong to attract hedge fund talent. The city-state’s markets regulator has held discussions with investment companies about cutting taxes for fund managers.
Extreme volatility in South Korea’s world-beating stock market is alarming policymakers there, who fear trading is being driven more by leverage than fundamentals after a rushed launch of single-stock derivative products tied to chipmakers Samsung Electronics and SK Hynix.
Following a modest improvement to the offer last week, key shareholders of FTSE 100 energy group DCC continued to reject publicly a £5.7bn takeover of DCC by private equity firms by KKR and Energy Capital Partners.
Data errors have marred the UK Financial Conduct Agency’s new short selling disclosure rules, raising questions over the quality of the information being provided to the market under the new disclosure regime.
And finally
Inspired by a book called American Photographs by Walker Evans, this display explores how photography hasn’t just recorded American history, but helped to shape it. For this exhibition, the Victoria and Albert Museum relies on its extensive collection of photography from the US — one of the largest outside North America.
Until May 16 2027
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