What type of data do news and commentary usually fall under?

News and commentary are classified as Vendor Generated Data because they are typically produced by third-party sources like financial news organizations, analysts, and research firms rather than originating from market mechanisms or exchanges directly. Vendor Generated Data provides insights and narratives that can influence market perceptions and investor behavior, distinguishing it from raw market or exchange data, which is more quantitative and originates directly from trades and pricing activities.

Market data refers to quantitative information about financial instruments, including prices, volumes, and trades. Exchange data specifically pertains to the authoritative records and statistics provided by stock or commodity exchanges. Aggregated data involves a combination of various datasets, typically summarizing inputs over time or across categories but does not capture the qualitative insights found in news and commentary. Thus, Vendor Generated Data accurately captures the nature and source of news and commentary within the financial context.