Interactive Data-owned eSignal is set to give its users direct access to Market Prophit's social media sentiment and buzz indicators.
From the end of this month, traders who use the eSignal platform will get access to charts representing the collective or crowd-sourced sentiment derived from social media chatter and be able to track when a stock is "buzzing."
As well as general chatter, users will see sentiment derived from only those posters of financial-related messages who receive a Market Prophit Score, a quantitative measure of the accuracy and predictive track record of a financial pundit's stock market commentary.
Kyle Ford, general manager, eSignal, says: "Social media has become an increasingly important component of research and insight for the investment community. Market Prophit's ability to remove the noise from social media-related financial chatter will provide traders with unique and innovative insight into the markets."
Earlier this year Bloomberg added social sentiment analytics to its Professional desktop tool while Thomson Reuters has added a new Eikon feature that takes feeds from both Twitter and StockTwits and weights and analyses sentiment using a proprietary methodology.