Thomson Reuters today announced an extension of its machine-readable news offering to include a sentiment scoring service for social media. The new capability will mine the expansive wealth of social media and blog content to deliver digestible analytics on selected companies and market segments, to help trading and investment firms identify and capitalize on new opportunities.
Thomson Reuters News Analytics enables clients to leverage a unique set of analytics such as sentiment, relevance and novelty indicators that capture market opinion, for algorithmic trading systems as well as risk management and human decision support processes. Today’s launch provides access on up to 50,000 news sites and four million social media sites, and allows customers to quickly sift through the noise to better interpret the extensive amount of available data on the internet.
The service utilizes information delivered by Moreover Technologies, an aggregator of global news and social media, to create intelligent information clients need to power their trading strategies. Thomson Reuters News Analytics software is available as a deployed solution or can be hosted in Elektron, the firm’s high performance data and trading infrastructure.