Thomson Reuters is Charting Bitcoin Adopters’ Emotions as Data for Traders
Thomson Reuters has teamed with MarketPsych Data LLC, a provider of quantitative behavioral economics, to launch a new version of its MarketPsych Indices for cryptocurrencies like bitcoin. The new version offers Thomson Reuters’ first sentiment data feed for bitcoin, along with new and/or enhanced market sentiment data for several asset classes, new user capabilities and additional coverage.
The feed has added more than 400 news and social media sites, many specific to cryptocurrencies. Each site is scanned and scored in real-time to capture market moving themes and sentiments. TRMI v3.0 also expands sentiment coverage of national fixed income securities and stock market indexes for the Eurozone and the top 61 global economies. Currencies, countries and agricultural commodities asset classes have also been expanded.
Modifications have been deployed in source selection, entity recognition, and other features to provide higher precision of measurements compared to prior versions. Data is delivered minutely, hourly and daily, extending back to 1998.
“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,” said Austin Burkett, global head, Quant and Feeds, Thomson Reuters. “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.”
Also read: Thomson Reuters plugs its market data to Ethereum, Corda blockchains
Building On A Mission
Thomson Reuters MarketPsyche Indices, launched in 2012, analyze social media and news in real time across 800 global financial social media sites and 2,000 global news sites. TRMI converts the variety and volume of professional social media and news into manageable information flows to improve investing decisions and risk management across asset classes. The data is incorporated seamlessly into both qualitative and quantitative analysis to enable investment and other professionals to identify patterns impacting their businesses. The text analytics engine uses patented natural language processing software.
Thomson Reuters provides transparent cross-asset insight into both new and traditional emerging asset classes. The company currently lists prices for bitcoin, Ethereum, Litecoin, Ripple and Bitcoin Cash via its Eikon financial desktop platform. Eikon also carries MVIS indices provided by Cryptocompare and CBOE and CME Group’s bitcoin futures.
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