Scottrade launches social media intelligence platform

Source: Scottrade

Scottrade, Inc., a leading financial services firm, today released a powerful social media intelligence platform for its trading clients on the ScottradeELITE platform.

Scottrade is working with Contix, the leading social media event detection platform focused exclusively on trading, to provide real-time breaking news alerts surfaced through social and traditional media. As more market-moving news breaks on channels such as Twitter, Scottrade clients can now make more timely and informed trading decisions using these specialized social alerts.

Scottrade provides the Contix social and traditional media sourced alerts inside of the ScottradeELITE platform. The tool surfaces specialized news for traders and investors by monitoring and analyzing over half a billion social and traditional media posts each day and pushing real-time alerts of the very earliest mentions of breaking financial news events. Contix acts as a credibility filter for Twitter, providing actionable trading information. Rather than relying on the volume of tweets about a topic or company, it rates the source of that news. From this foundation, our clients can create custom alerts based on their own trading criteria. The tool is offered at no charge for two weeks within the ScottradeELITE platform. Scottrade clients who subscribe will receive a discounted rate from Contix and 20 free trades from Scottrade.

“We’re always looking for additional innovative and valuable tools that can help our clients,” said Brian Bachelier, Scottrade vice president of active trader strategy. “By making Contix alerts available within ScottradeELITE, we’re placing a powerful tool in the hands of our traders at a time when news is increasingly breaking on social media channels. Our clients demand the most sophisticated technology and analysis on the market.”

Ryan Bailey, CEO of Contix, notes, “Scottrade is a forward-thinking firm and we’re thrilled to have helped them become the first brokerage to roll out enterprise-grade social media intelligence for their clients. Working with Scottrade validates how important social media event detection is to trading strategies.” 

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This content is contributed or sourced from third parties but has been subject to Finextra editorial review.

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