Thomson Reuters has integrated NEWSFUL, an app which links corporate news, events and share price, into its App Studio on the flagship product Eikon, according to a company report.
NEWSFUL was developed by Sigma News ventures which used natural language processing and machine learning techniques to read corporate news with high precision and in near real time.
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Mahesh Narayan, head of portfolio management and research, Thomson Reuters, said: “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. 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”.
Sigma News Ventures added that NEWSFUL has indexed news items from over 50,000 media sources over the past 10 years and sorted them into categories such as new product launch, company signing partnership deal, etc.
This classification is correlated with the share price, taking volatility into account, and then fed into the app.
Eikon is an open platform solution from Thomson Reuters that processes real-time and historical data and provides analytical and visualization tools that helps finance professionals to make better, efficient and informed decisions.