Incorporating Twitter Sentiment Analysis into Trading Software

February 21, 2014

Thomson Reuters has added Twitter sentiment analysis to its Eikon subscription trading platform. Sorting tweets into positive and negative messages based on proprietary language-processing technology, the feature meets the demands of a growing number of traders.

According to Matthew Finnegan’s story “Thomson Reuters Adds Twitter Sentiment Analysis to Eikon Trading Terminal” for Computerworld UK, the analytics tool will show users the volume of both positive and negative messaging relating to specific companies on an hourly basis. Thomson Reuters’ Chief Technology Officer Philip Brittan stressed that the information will be used primarily for research, not a basis for trading decisions.

Since there have been instances of fake Tweets influencing markets, the caution is probably justified. But the power of social media’s unstructured data cannot be denied, and Eikon is attempting to harness it for subscribers:

“…the Eikon sentiment analysis aims to also make it easier for humans to quickly make sense of masses of social media information currently available, with tens of thousands of tweets about major companies each day.”

It’s one more way we see social media emerging as the dominant media force of the 21^st century.

Laura Abrahamsen, February 21, 2014

Sponsored by ArnoldIT.com, developer of Augmentext

Written by Stephen E. Arnold · Filed Under News, Sentiment analysis, Twitter

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Stephen E. Arnold monitors search, content processing, text mining and related topics from his high-tech nerve center in rural Kentucky. He tries to winnow the goose feathers from the giblets. He works with colleagues worldwide to make this Web log useful to those who want to go "beyond search". Contact him at sa [at] arnoldit.com. His Web site with additional information about search is arnoldit.com.