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Screenshot of a breaking news alert e-mail from Q2 2017
Thomson Reuters (NYSE:TRI) announced that has enhanced its news processing capabilities with the addition of NEWSFUL, an app that gives the buy and sell side new intelligence on what business events are driving share price change. Newsful is available via App Studio on Eikon, Thomson Reuters flagship desktop product.
Sigma News Ventures have spent more than 100 man-years developing NLP (Natural Language Processing) and Machine Learning techniques to identify business events reported in the corporate news. Deploying a proprietary news classification system, NEWSFUL can read corporate news with the greatest precision and recall. The classification of the news stories uses the most granular business news-event taxonomy in the market. NEWSFUL classifies 500 business events in near real time to offer new intelligence for market professionals. An example of a business event would be: a company announces plans to shut a production facility, launch plan for new products/services, and/or a company signing a partnership deal.
Our open platform enables us to add third-party applications onto Eikon that, when combined with our own solutions, give our clients enhanced products in an evolving marketplace,” said Mahesh Narayan, head of portfolio management and research, Thomson Reuters. “We believe NEWSFUL’s unique business classification taxonomy, combined with its visual user interface, will deliver valuable new intelligence for many of our users, from traders, PMs to analysts and researchers.
NEWSFUL has digested and indexed every item of company news from more than 50,000 media sources for the last decade. Each story is logged, time-stamped and classified by business events into a uniquely powerful system.
Our classification index is not only the most precise, and the taxonomy the most granular, but we also have time-stamped data from more media sources for a longer period, opening up extensive opportunities for historical analysis and data modeling” states Sigma co-founder Christofer Solheim, who adds that Newsful insights will also be available in additional formats, including APIs.
Thomson Reuters Eikon is a powerful and intuitive next-generation open platform solution for consuming real-time and historical data, enabling financial markets transactions and connecting with the financial markets community. Its award-winning news, analytics and data visualization tools help its users make more efficient trading and investment decisions across asset classes and instruments including commodities, derivatives, equities, fixed income and foreign exchange. Eikon is a leading desktop and mobile solution that is open, connected, informed and intelligent.
App Studio, Eikon’s third party development suite, enables clients and vendors to embed their applications, content and work flows into Thomson Reuters Eikon, thus creating an integrated end-to-end solution. This open approach allows users to benefit from access to financial apps created by third party developers globally, built directly into Thomson Reuters Eikon.