CBOE deal with Social Market Analytics eyes social-media based benchmarks.
The Chicago Board of Options Exchange (CBOE) has just revealed details of an exclusive licensing agreement that it entered into with Social Market Analytics (SMA) to create a suite of sentiment-based strategy benchmark indexes tied to SMA’s social media metrics.
As a leader in providing actionable intelligence from social media sources, Chicago-headquartered SMA analyzes social media streams to estimate market sentiment, leveraging its patented process to filter relevant tweets – including validating their sources while the meanings are evaluated.
The new world of Online Trading, fintech and marketing – register now for the Finance Magnates Tel Aviv Conference, June 29th 2016.
Extracting information from social media to make investment decisions represents a new and promising frontier in strategy benchmarking
Summer launch planned
The metrics that SMA gathers from its analysis are translated into actionable indicators that the company calls S-Factors, aimed to capture the ‘signature’ of financial market sentiment that is provided to clients as a technical analysis indicator.
CBOE plans to introduce its first index this summer that will use SMA’s proprietary data, thanks to the exclusive licensing agreement that will enable the series of strategy benchmark indexes to be developed.
“Extracting information from social media to make investment decisions represents a new and promising frontier in strategy benchmarking. We believe that benchmark indexes based on Social Market Analytics’ state-of-the-art metrics will provide signals for investors to identify potential investment ideas,” said William Speth, Vice President, Research and Product Development, CBOE, commenting in a corporate statement regarding the deal.
High correlation of SMA data
Mr. Speth added: “Our research suggests that there is a high correlation between the price movements in stocks and SMA’s data. Investors could potentially use these benchmarks to build strategies to enhance risk-adjusted returns in a portfolio.”
“SMA is thrilled to have been chosen by CBOE to partner on creating a family of sentiment-based benchmark indexes,” said Joseph A. Gits IV, CEO of Social Market Analytics, commenting in the joint announcement. “CBOE is an unrivaled product innovator and a leader in the index space and SMA is a leader in providing actionable social media metrics. We look forward to working with CBOE to create these first-of-their-kind indexes.”
Filtering views
With so many people connected online and sharing their views in the collective realms of social media in real-time, firms have been increasingly trying to use such aggregated data from sources like Twitter or Facebook for some time already in order to gauge sentiment across various trends and market perspectives.
However, challenges in filtering such data have emerged from sources such as the twitter firehose as vast amounts of information generated are mostly noise about news - yet that noise could help reveal sentiment.
Therefore, a filtered index that applies a systematic approach and methodology for its calculation could be of immense value in providing a mirrored image of the collective sentiment across various related financial assets.
A 2014 paper from the University of Virginia that was authored by scholars supported by the U.S. National Science Foundation under grant IIS-1236970 outlined a number of approaches in a report titled Benchmarking Twitter Sentiment Analysis Tools.
An excerpt from the report can be seen below, highlighting a number of tools used to analyze twitter sentiment across industries:
The paper concluded with trade-offs between using stand-alone and workbench tools, and that the error analysis data noted in the report could help future twitter sentiment analysis algorithm development.
It will be interesting to see how the CBOE series of sentiment benchmarks work as they are planned to be released this summer as new approaches to financial benchmarking further evolves to include social media data.
The Chicago Board of Options Exchange (CBOE) has just revealed details of an exclusive licensing agreement that it entered into with Social Market Analytics (SMA) to create a suite of sentiment-based strategy benchmark indexes tied to SMA’s social media metrics.
As a leader in providing actionable intelligence from social media sources, Chicago-headquartered SMA analyzes social media streams to estimate market sentiment, leveraging its patented process to filter relevant tweets – including validating their sources while the meanings are evaluated.
The new world of Online Trading, fintech and marketing – register now for the Finance Magnates Tel Aviv Conference, June 29th 2016.
Extracting information from social media to make investment decisions represents a new and promising frontier in strategy benchmarking
Summer launch planned
The metrics that SMA gathers from its analysis are translated into actionable indicators that the company calls S-Factors, aimed to capture the ‘signature’ of financial market sentiment that is provided to clients as a technical analysis indicator.
CBOE plans to introduce its first index this summer that will use SMA’s proprietary data, thanks to the exclusive licensing agreement that will enable the series of strategy benchmark indexes to be developed.
“Extracting information from social media to make investment decisions represents a new and promising frontier in strategy benchmarking. We believe that benchmark indexes based on Social Market Analytics’ state-of-the-art metrics will provide signals for investors to identify potential investment ideas,” said William Speth, Vice President, Research and Product Development, CBOE, commenting in a corporate statement regarding the deal.
High correlation of SMA data
Mr. Speth added: “Our research suggests that there is a high correlation between the price movements in stocks and SMA’s data. Investors could potentially use these benchmarks to build strategies to enhance risk-adjusted returns in a portfolio.”
“SMA is thrilled to have been chosen by CBOE to partner on creating a family of sentiment-based benchmark indexes,” said Joseph A. Gits IV, CEO of Social Market Analytics, commenting in the joint announcement. “CBOE is an unrivaled product innovator and a leader in the index space and SMA is a leader in providing actionable social media metrics. We look forward to working with CBOE to create these first-of-their-kind indexes.”
Filtering views
With so many people connected online and sharing their views in the collective realms of social media in real-time, firms have been increasingly trying to use such aggregated data from sources like Twitter or Facebook for some time already in order to gauge sentiment across various trends and market perspectives.
However, challenges in filtering such data have emerged from sources such as the twitter firehose as vast amounts of information generated are mostly noise about news - yet that noise could help reveal sentiment.
Therefore, a filtered index that applies a systematic approach and methodology for its calculation could be of immense value in providing a mirrored image of the collective sentiment across various related financial assets.
A 2014 paper from the University of Virginia that was authored by scholars supported by the U.S. National Science Foundation under grant IIS-1236970 outlined a number of approaches in a report titled Benchmarking Twitter Sentiment Analysis Tools.
An excerpt from the report can be seen below, highlighting a number of tools used to analyze twitter sentiment across industries:
The paper concluded with trade-offs between using stand-alone and workbench tools, and that the error analysis data noted in the report could help future twitter sentiment analysis algorithm development.
It will be interesting to see how the CBOE series of sentiment benchmarks work as they are planned to be released this summer as new approaches to financial benchmarking further evolves to include social media data.
Interactive Brokers Expands Offerings with Daily Options on French Stocks
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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