Live Squawk, an innovative media monitoring service for traders, has proven that Twitter is fast-becoming an influential source of market-moving news.
When Moody's downgraded France's rating from Aaa to Aa1 at the end of 2012, the news broke first on Twitter. Live Squawk's Twitter monitoring team spotted the tweet and broadcast the news 17 minutes before the newswires started reporting it - putting their clients in a position of being the first in the market to react.
Live Squawk is an audio news service for individual and professional traders, which broadcasts market commentary 24X5 from London and Singapore. A team of experienced analysts monitor all major newswires, websites, blogs and social media platforms. Relevant market news is verified and voice broadcast over real-time internet streaming or dealer board systems.
Last October Live Squawk opened a new Singapore office to enable them to expand coverage of the growing Asian markets. In light of the recent success in being first to their clients with Moody's downgrade of France's debt, they have since expanded their Twitter monitoring team - ensuring social media monitoring is an integral part of its operations.
Commenting, CEO and founder Harry Daniels says: "Every delay in hearing important news can cost traders money, and trading positions can be hugely affected by rumour and conjecture. With the growing influence of Twitter as a means to communicate, market-moving news can often break here. Without a service like Live Squawk to monitor, track, verify and predict the most influential stories, many traders find it difficult to cope with the huge volatility we've seen since the crisis. The example of Moody's downgrade for French debt is a case in point - 17 minutes is a long time in the markets.
Our record of backing up instant news with strong in-depth analysis on a 24-hour basis, gives our clients the tools to protect themselves in these extraordinary market conditions. As global markets remain unpredictable, I believe that our business will go from strength to strength - and social media will contiontinue to play an important role in the commentary we broadcast to our clients."