Thomson Reuters has extended its machine-readable news offering to include a sentiment scoring service for social media. The new capability 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.
Thomson Reuters News Analytics enables clients to leverage 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 four 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.
Rich Brown, head of quantitative and event driven trading solutions, Thomson Reuters, said: “Investment firms are embracing new data, tools and techniques to help make sense of the massive amounts of unstructured data available on the Internet. When properly analysed and understood, this data can complement a firm’s trading and investment strategies and give it a competitive edge. This launch will give investors additional capabilities to gauge stock, sector, and market sentiment, and to translate these emerging sources of market insight into data that can be incorporated into both quantitative strategies and as a way to provide a broader context to human analysts.”
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