Bloomberg expands machine readable news with unique offerings

19 February 2010

Bloomberg has further expanded its machine-readable news offerings by launching unique news analytics for its service. The new analytics include ratings for these metrics:

1) Bloomberg-only readership data -- An analysis of the most read stories by Bloomberg terminal users, which include market participants from top global banks, investment firms and financial institutions, from its database of more-than 30,000 global news sources; This is a unique analysis of the stories Bloomberg terminal users think are most relevant in real time;
2) Story flow -- Indicates the "news heat" or most written about companies and topics by analyzing more than 30,000 global news sources tracked by Bloomberg

"These news metrics may cause a trader or investor to rethink or alter a strategy or trading approach," said Stefan Whitney of Bloomberg. "This valuable information, which is derived from Bloomberg's exhaustive database of news sources and its unique user base, may alert a market participant to a market-moving event. We believe our constituents will benefit from knowing about these spikes of interest in the news."

Bloomberg's machine readable news offering includes tracking of 20,000 economic indicators culled from government sources, press releases and websites. In addition, it tracks company announcements, rating changes and unpredictable events.
Bloomberg analyzes text to extract both key information -- such as earnings and revenue figures from press releases in real-time -- and to categorize text into easy-to-identify tags for topics, tickers and people. The text is easily interpreted by machines to, for example, instruct an algorithm that a story is about a certain ticker with a particular relevance (ie IBM, at 90% relevance) or a particular topic (ie a credit downgrade at 100% relevance). These signals can be used to make trading decisions or set up predefined parameters and leverage Bloomberg's machine readable text into actionable data. The feed is delivered in Bloomberg's proprietary B-Pipe format for easy integration, and is optimized for ultra-low latency.

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