24 October 2017
visit www.atos.net

Thomson Reuters adds Twitter and news sentiment analysis to Eikon

03 February 2014  |  4084 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)

Finextra news in your inbox

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

Related stories

Thomson Reuters bids to improve banks' benchmark submissions

Thomson Reuters bids to improve banks' benchmark submissions

27 January 2014  |  4151 views  |  0 comments | 4 tweets | 5 linkedin
Apple buys social media sentiment firm Topsy Labs

Apple buys social media sentiment firm Topsy Labs

03 December 2013  |  3927 views  |  1 comments | 6 tweets | 2 linkedin
EU-backed social media sentiment project releases market surveillance tool

EU-backed social media sentiment project releases market surveillance tool

13 November 2013  |  8374 views  |  0 comments | 4 tweets | 4 linkedin
Thomson Reuters suspends early peeks at consumer data for HFT clients

Thomson Reuters suspends early peeks at consumer data for HFT clients

09 July 2013  |  5559 views  |  0 comments | 3 tweets | 1 linkedin
ECB signs for Thomson Reuters Eikon

ECB signs for Thomson Reuters Eikon

04 March 2013  |  7019 views  |  1 comments | 4 tweets
Nyse Technologies turns on social media hosepipe

Nyse Technologies turns on social media hosepipe

14 February 2013  |  6761 views  |  0 comments | 3 tweets | 2 linkedin
I Robot: Thomson Reuters adds psych analysis to machine-readable news

I Robot: Thomson Reuters adds psych analysis to machine-readable news

25 June 2012  |  10105 views  |  0 comments
Thomson Reuters launches social media sentiment analysis service

Thomson Reuters launches social media sentiment analysis service

07 March 2012  |  9754 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.com visit www.fivedegrees.nl

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
19897 views comments | 31 tweets | 43 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
15306 views comments | 23 tweets | 32 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
11041 views comments | 12 tweets | 23 linkedin
Eight banks form joint venture to launch blockchain trade platformEight banks form joint venture to launch b...
9156 views comments | 15 tweets | 29 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job