Thomson Reuters machine readable news offering is voted most innovative by an independent panel of 50 judges
Thomson Reuters machine readable news service has been awarded for best use of social media in trading and technology at the Financial News Awards for Excellence in Trading and Technology Europe, 2012. The awards were presented at a ceremony in London on Wednesday 3 October with winners voted on by a distinguished panel of 50 industry experts.
Thomson Reuters News Analytics is the industry’s most advanced service for automating the consumption and systematic analysis of news. In March this year, Thomson Reuters announced the extension of its offering to include sentiment information mined from millions of social media sites as well as internet news. The process involves assessing the sentiment, relevance and novelty of content to derive trading signals with respect to specific stocks and sectors. The nomination for “Best Use of Social Media” reflects Thomson Reuters commitment to providing its customers with intelligent information which helps to inform their decision-making process.
With behavioral finance playing an increasing role in investment and trading strategies, Thomson Reuters further expanded its news analytics service in June to include psychological analysis of news and social media. Thomson Reuters MarketPsych Indices analyze human emotion associated with specific countries, commodities, currencies and economic sectors. This provides a “top-down” understanding of the macroeconomic environment in a way not previously possible, providing the context in which many other market signals operate.
“Financial markets have seen a dramatic rise in the volume and influence of industry blogs, social-networking and commentary websites. According to Aite Group 35% of quantitative firms are using some kind of machine readable newsfeed, up from 2% just three years ago,” said Rich Brown, Global Head of Elektron Analytics at Thomson Reuters. “We are thrilled to have won such a sought-after award for the innovative work we are doing, in particular how we are harnessing social media to gauge market sentiment and help our clients find compelling investment and trading ideas more effectively.”
The Financial News Awards for Excellence in Trading & Technology have been operating for ten years. The awards celebrate the achievements of firms and individuals working across the spectrum of trading and technology in the European financial markets, from stock exchanges and alternative trading platforms, to software vendors and in-house IT teams. They also aim to provide an authoritative view of the leading, most innovative and visionary players in the European trading and technology industry.