Mahesh Narayan, Thomson Reuters
Thomson Reuters 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.
Sigma News Ventures have developed NLP (Natural Language Processing) and Machine Learning techniques to identify business events reported in the corporate news. 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.
Newsful is available via App Studio on Eikon, Thomson Reuters desktop product.