Thomson Reuters has tapped Moreover Technologies to provide social media sentiment scoring for its machine-readable news analytics service. Moreover tracks 50,000 news sites plus four million social media sites and blogs to provide sentiment analytics on select companies and market segments.
The new facility enables trading firms to leverage 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.
Says Rich Brown, head of quantitative and event driven trading solutions at Thomson Reuters: "Investment firms are embracing new data, tools and techniques to help make sense of the massive amounts of unstructured data available on the Internet. When properly analysed and understood, this data can complement a firm’s trading and investment strategies and give it a competitive edge."
Thomson Reuters News Analytics software is delivered either as a software product, or via the company's Elektron managed service.