Austin Burkett, global head, Quant and Feeds, Thomson Reuters, said: “News and social media are driving the investment and risk management process more than ever with the continuing rise of passive and quant-driven trading. As the financial marketplace rises in complexity, so too does the need to provide our clients with not only the relevant data but the tools to help them manage and analyze that data. MarketPsych 3.0 helps deliver another layer of analysis and value-add in the investing process.”
The Industry Spread > Industry News > Thomson Reuters launches first sentiment data feed for Bitcoin
Thomson Reuters and MarketPsych Data LLC have partnered to launch a new version of MarketPsych Indices (TRMI), which includes its first sentiment data feed for Bitcoin.
The feed has added over 400 news and social media sites, many specific to cryptocurrencies, which are scanned and scored in real-time, aiming to capture market-moving sentiments and themes. TRMI enables investment and other professionals to quickly discern patterns affecting their respective businesses.
Additionally, the new version enhanced market sentiment data for several asset classes, new user capabilities, and additional coverage. TRMI v3.0 includes expanded sentiment coverage of national fixed income securities and stock market indexes for the top 61 global economies and the Eurozone. Coverage was also further expanded in the currencies, countries, and agricultural commodities asset classes.
Thomson Reuters MarketPsych Indices were first launched in 2012 and scans news and social media in real time across 2,000 top global news sites and 800 global financial social media sites. TRMI converts the volume and variety of professional news and social media into manageable information flows that can help drive investing decisions and risk management across asset classes. MarketPsych’s text analytics engine uses patented natural language processing software.
TRMI v3.0 modifications were implemented in source selection, entity recognition, and the construction of several TRMI, designed to result in a higher precision of TRMI measurements compared to prior versions.
The emerging asset class that is cryptocurrencies is well covered by Thomson Reuters, which currently provides prices for Bitcoin, Ethereum, Litecoin, Ripple and Bitcoin Cash via its financial desktop platform Eikon.
When MiFID II regulation came into full effect in early January 2018, Thomson Reuters went live with a comprehensive suite of solutions to assist the financial services industry.
A recent Thomson Reuters survey conducted in partnership with Forbes Insight found that wealth managers agree that it is vital to stay up to date when it comes to technology in order to have a successful business. 68% said that learning about and keeping up with new technology is the top challenge they face.