Bloomberg announced 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 Bloombergs robust Natural Language Processing techniques and available through the companys 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 capitalize on Twitters influence on the markets through constantly evolving curation methodologies. These include proprietary NLP modeling, coupled with Bloombergs reputation for data quality and the expertise of a world-class news organization.
Bloombergs social media offering has continued to grow since the companybecame thefirst financial information platform to integrateTweetsin April 2013. In addition to advanced curation technologies, Bloombergs 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.
Were excited to expand our partnership with Bloomberg to deliver even more value from Twitter data for investment professionals, said Bruce Falck, Tw0itters 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.
Bloombergs Event-Driven Feeds products are highly structured and designed to deliver real-time, machine-readable data, including breaking headlines, exclusive global coverage, structured financial data, news analytics and global economic indicators for black box applications. Event- Driven Feeds are part of Bloombergs Enterprise Data business, which produces high-quality pricing, reference and regulatory data sets, real-time market, event and news data, liquidity analytics along with data management and distribution technologies. More information about Bloombergs Twitter EDF and other products can be found at:www.bloomberg.com/edf.
