Business information provider Thomson Reuters, US, has announced an extension of its machine-readable news offering to include a sentiment scoring service for social media. Thomson Reuters News Analytics will mine the expansive wealth of social media and blog content to deliver digestible analytics on selected companies and market segments, to help trading and investment firms identify and capitalise on new opportunities.
The impact of social media has expanded beyond personal use, it is observed. Financial markets have seen a dramatic rise in the volume and influence of industry blogs, social-networking and commentary websites. According to Aite Group, 35 percent of quantitative firms are using some kind of machine readable newsfeed, up from 2 percent just three years ago.
Thomson Reuters News Analytics enables clients to leverage a set of analytics such as sentiment, relevance and novelty indicators that capture market opinion, for algorithmic trading systems as well as risk management and human decision support processes. This launch provides access on up to 50,000 news sites and 4 million social media sites, and allows customers to quickly sift through the noise to better interpret the extensive amount of available data on the Internet.
The service utilises information delivered by Moreover Technologies, an aggregator of global news and social media, to create intelligent information that clients can use to power their trading strategies. Thomson Reuters News Analytics software is available as a deployed solution or can be hosted in Elektron, the firm’s high performance data and trading infrastructure.
Thomson Reuters News Analytics seeks to offer a bottoms-up approach to analyse and provide sentiment on individual companies as well as commodity and energy topics. Data can be aggregated at the stock, sector, market and country levels to track sentiment on desired parameters. Customers have the ability to filter the available content to hone in on specific information sources they want to target and leverage analytic tools to spot trends and anomalies.
