ENRIQUE QUINTANA taps his electronic mouse.
Seconds later, the "Rumors" window opens on the computer screen
to reveal a juicy financial morsel: Business mogul Carlos Hank Rhon
may be selling his 58.13 percent stake in Banca Cremi. At least,
that's the buzz on the floor of the Mexican Stock Exchange.
Rumors is one of the more intriguing sections of Informacion
Selectiva (InfoSel). This unique Mexican electronic financial news
service was started in late 1990 by El Norte, a Monterrey-based
newspaper that many analysts consider to be Mexico's best
independent daily in a country where the majority of newspapers are
To date, InfoSel stands essentially alone in a market with a
voracious appetite for Mexican business news. InfoSel is similar to
services found in the United States such as Citibank's Global and
Dow Jones's Telerate. Other financial and media firms here are
planning similar news services, but only a few have gotten off the
ground and none yet have the breadth of information available from
"For international information, we rely on Reuters. But for live
domestic-market information, rumors, and quarterly reports, Infosel
is unquestionably the best. And for a very good price everyone can
access it on their own computers," says Gabriel Loaiza, director of
analysis for Baring Research, a subsidiary of Baring Securities.
For $600 a month, InfoSel gives real-time stock quotes from the
Mexican Bolsa, continually updated corporate and financial news
services, corporate analysis, money market prices, short news items
from newspapers (USA Today, the Wall Street Journal, Financial
Times, etc.), story summaries from major Mexican dailies, quarterly
corporate reports, statistical economic databases, and a electronic
InfoSel has 16 corporate analysts, plus four of its own
reporters. But it also shares information, reporters, and office
space with its parent, El Norte.
With minimal promotion, 1,000 clients - mostly stock brokers,
corporations, banks, and government financial offices - have signed
up for the Spanish-language service. Another 1,000 new subscribers
are expected this year. About 50 clients reside in the US. An
English-language service is foreseen, but no date has been set.
"The demand is huge. We have almost no competition," says Mr.
Quintana, co-editor of InfoSel.
"Until now, only a small group of people within the stock
exchange had access to this information. …