Stock market data systems conveyed market data, information about securities and stock trades, from stock exchanges to stockbrokers along with stock traders. The initial stock exchanges ended up in France inside 12th century along with in Bruges and Italy inside 13th. Presumably data about trades within those times was written down through scribes and journeyed by courier. In the early 19th century Reuters sent data by carrier pigeons in between Germany and Belgium, have played an element in trading.