27 May 2015
Your browser is unable to support Flash files.

Thomson Reuters adds Twitter and news sentiment analysis to Eikon

03 February 2014  |  2901 views  |  0 stock quotes

Thomson Reuters has added Twitter and news sentiment analysis to its flagship Eikon desktop product to help traders make sense of vast amounts of market moving data.

In recent years, trading firms have increasingly turned to news and social media sentiment analysis to gauge and predict the impact of breaking news on market prices and volatility.

More than half of quantitative firms now tap machine readable news feeds, according to Aite Group.

Danielle Tierney, Aite Group, says: "The ability to incorporate social media into the analytics toolkit is becoming an increasingly frequent demand from today's generation of traders. Such functionality is no longer just a value-add, but is well on its way to becoming an important part of many quantitative strategies."

However, Thomson Reuters argues that the data from these feeds is simply too detailed to be easily digested by mere flesh and blood traders. The news and data giant is promising to fix this with a new Eikon feature that takes feeds from both Twitter and StockTwits and weights and analyses sentiment using a proprietary methodology.

A charting application gives users a picture of the volume of positive and negative tweets surrounding any given listed company as well as advanced technical analysis which enables them to potentially spot market and company-impacting events as they happen. The feed incorporates identified "key influencers" as well as a broad cross-section of all activity. Customers also have the ability to drill down into the underlying data to investigate further what is being said and by whom.

Eikon users also now get news sentiment analysis based on Thomson Reuters News Analytics. A proprietary scoring system provides a rolling average score for sentiment across over 30,000 listed companies.

Philip Brittan, CTO and global head of platform, financial and risk, Thomson Reuters, says: "With the addition of this sentiment data to Eikon we are combining our unique content and insight with innovative visualization and analytics tools. This is really just the tip of the iceberg in terms of what we plan to do to turn qualitative, unstructured text into quantitative and actionable insight for our customers."

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

27 January, 2014
03 December, 2013
13 November, 2013
09 July, 2013
04 March, 2013
14 February, 2013
25 June, 2012
07 March, 2012
25 January, 2010

Related company news


Top topics

Most viewed Most shared
Cash overtaken by non-cash payments in the...
7812 views comments | 50 tweets | 32 linkedin
UK opts out of European online payments se...
7420 views comments | 22 tweets | 17 linkedin
Bigger banks may have to set up their own...
6267 views comments | 40 tweets | 33 linkedin
JPMorgan Chase puts data to use with new t...
4536 views comments | 15 tweets | 6 linkedin
Postbank trials HCE mobile payments
4479 views comments | 9 tweets | 8 linkedin

Featured job

c.£70-100K base, commission + equity
London, UK

Find your next job