Bloomberg launches Twitter feed optimised for trading

  • Data allows financial firms to extract value by making sense of over 500 million Tweets a day
  • Built on the back of Bloomberg's Natural Language Processing techniques

 

Bloomberg launches Twitter feed optimised for trading

 

BLOOMBERG announced on July 19 the expansion of its relationship with Twitter, launching a real-time feed of curated Twitter data, so that enterprise clients can incorporate the most financially relevant content into their trading algorithms.

Built on the back of Bloomberg's Natural Language Processing techniques and available through the company's Event-Driven Feeds (EDF) product, the data allows financial firms to extract value by making sense of the over 500 million Tweets per day.

The use of Twitter for disclosing material company news has increased since 2013, when the Securities and Exchange Commission (SEC) provided guidance on doing so.

Twitter also continues to be the service of choice for influential financial professionals to broadcast market-moving views. Yet, the financial industry struggles with the sheer volume of Twitter content, which can create a lag in market reaction and introduce unnecessary risks when making trading decisions.

"Our customers tell us that Twitter data is a vital part of their information-driven trading strategies, helping them uncover early trends and changes in sentiment," said Tony McManus, Bloomberg Enterprise Data CIO.

"Our Twitter EDF feed will help quantitative traders to capitalise on Twitter's influence on the markets through constantly evolving curation methodologies. These include proprietary NLP modelling, coupled with Bloomberg's reputation for data quality and the expertise of a world-class news organisation."

Bloomberg’s social media offering has continued to grow since the company became the first financial information platform to integrate Tweets in April 2013.

In addition to advanced curation technologies, Bloomberg's Twitter EDF ensures clients can cut through the noise with the assignment of relevant topic tags, company extraction and mapping, people extraction, company level sentiment and journalistic oversight of handle verification.

Built on the back of innovative NLP techniques, raw Tweets along with derived and assigned metadata will be available via the Bloomberg EDF delivery technologies.

"We're excited to expand our partnership with Bloomberg to deliver even more value from Twitter data for investment professionals," said Bruce Falck, Twitter’s Revenue Product Lead.

"People come to Twitter for breaking news, and this new, real-time Twitter data feed gives finance professionals an increased ability to find meaningful and relevant news with the speed, quality, and accuracy they expect from Bloomberg."

 

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