The wall is coming down. You can now be plugged into Wall Street faster than ever.

Nasdaq has announced today it will be providing instantaneous stock quotes and other info for free to several news outlets.

Previously, you could only get 15- to 20-minute delayed price data from the major U.S. equity exchanges. A large part of these exchanges’ revenue comes from charging institutional clients and online brokerage large subscription fees for more updated information.

The new deal Nasdaq is cutting will give Google Finance, CNBC, Xignite and WSJ.com (Wall Street Journal) completely live stock information.

The services will be offered for free during the month of June, but will require the news sources to incur a $150,000 fee ($100,000 for Nasdaq info, and $50,000 for NYSE and Amex) for the continued live information. It’s up to those sources to decide if they want to charge their readers.

Not to be outdone, according to a CNN Money/ Dow Jones Newswire article, Yahoo stock quotes went totally live last week as well:

BATS last week launched real-time price quotes viaYahoo Inc. (YHOO), though it said it had never charged for data as part of its pitch to undercut trading costs on established exchanges. BATS has lifted its share of U.S. equities trading above 10% and is applying for regulated exchange status, with plans to launch a European platform later this year.”We believed that market data – including full depth of book, not just last quotes – should be free to investors,” said Randy Williams, a BATS spokesman.

The Securities and Exchange Commission (SEC) has yet to make a public statement or official ruling on this new practice. But they’re not usually the most ‘with-it’ bureaucratic organization in the world.

I can only see this as a plus for all the independent traders on a budget out there. Needless to say, up to the second live information is the way to go. Let’s hope that the news sources will keep it free and bite the bullet on the fees after June in hopes of keeping an audience.

Now us non-/semi- professionals won’t be looking at old stock data for what feels like eons after a major announcement comes out.

Let us know in the comments section how this will effect how you trade or look up stock information.

Dow Jones News Wires / CNN Money: Nasdaq Offers Free Real-Times Stock Price Data, June 2, 2008