Monday, 30 March 2015
Last updated 2 days ago
Apr 30 2007 | 9:47am ET
Big media is getting even bigger, or should we say, wiser. Today, Reuters launched a new “sentiment analysis” service in which computers read the news, judge whether it is positive or negative, and trigger trades based on the results. The service is being marketed to algorithmic traders, including hedge funds.
Reuters claims the system will enable customers to analyze news about thousands of companies before humans can even read the first headline of a newspaper. The information provider has already been offering a product called NewsScope, which allows its clients to use news content to drive automatic trading and respond to market moving events, but according to Peter Moss, who heads Reuters global enterprise solutions group, the new release allows the machines to “interpret the sentiment of news stories as they are published.”
For now, the system will only scan Reuters’ own articles, but there are plans to add additional news sources.
According to Reuters, the new system works by assigning numerical “sentiment scores” to words or phrases which are then processed to give an overall positive, neutral or negative score to the company in the news article. These scores can be added together to calculate the prevailing sentiment for a company, a sector, an index, or even to assess global market sentiment.
“Imagine a machine scanning hundreds of stories on companies’ results, measuring the sentiment around them and incorporating that into algorithmic trading strategies,” said Moss.
Reuters collaborated with U.K.-based linguistics and software developer Corpora to develop the new system.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…