18 April 2015

Start-up pitches social media analysis tool to traders

13 November 2012  |  5761 views  |  0 Dealing Room

A new London-based analytics firm that trawls sites such as Twitter and Facebook for information that can be used to help investors, has launched.

Knowsis is pitching a social media analytics API that traders can integrate into their desktops to help extract value from Web chatter that can be used to analyse behaviours and identify trends in the futures and equities markets.

The start-up says it retrieves data from thousands of "alternative alpha sources" and then applies "natural language processing and machine learning techniques" to make sense of it.

Launching this week, Kowis was set up earlier this year by former Unicredit equities salesman Oli Freeling-Wilkinson and Mark Unsworth, who used to work at music download service 7digital. They have received financial backing from Method Investments & Advisory.

Freeling-Wilkinson told Financial News that the explosion of data available on the Web is increasingly hard to harness but "we have paid a lot of attention to data quality and have developed an automated system that allows us to identify only the most relevant pieces of content out there".

Several firms in the past have tried to tap social media chatter for trading, with one - Derwent Capital Markets - launching a £25 million Twitter sentiment-based hedge fund. The fund lasted just a month, however, before being shuttered, with the company instead deciding to offer its technology to day traders through a Web site and mobile app.

KeywordsSOCIAL MEDIA

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

05 July, 2012
25 June, 2012
25 May, 2012
23 March, 2012
07 March, 2012
31 August, 2011
08 August, 2011
18 May, 2011

Top topics

Most viewed Most shared
UK banks covering up cybercrime losses - C...
6589 views 13 comments | 26 tweets | 13 linkedin
BBVA buys UX firm Spring Studio
6200 views comments | 32 tweets | 17 linkedin
Card is king as cash usage continues to fa...
6048 views comments | 22 tweets | 14 linkedin
Digital and core renewal to drive bank IT...
4693 views comments | 32 tweets | 25 linkedin
World Bank reports big drop in numbers of...
4271 views 10 comments | 36 tweets | 12 linkedin

Featured job

Competitive
New York City, NY, USA

Find your next job