April 23, 2013
Thomson Reuters Wins Best Use of Social Media at FStech Awards 2013
LONDON – Thomson Reuters has been awarded “Best Use of Social Media” at the FStech Awards, 2013. The awards were presented at a ceremony in London on 17th April with winners voted on by a distinguished panel of industry experts.
Thomson Reuters News Analytics (TRNA) for Internet News and Social Media is a powerful tool that helps users address the big data challenge, allowing them to analyze millions of public and premium sources of internet content, tag and filter that content to focus on the most relevant subject matter, and turn the mass of data into actionable analytics that can be used to support trading, investment and risk management decisions. The product suite works across countries and a variety of asset classes from specific stocks and sectors to commodities and energy, fixed income, and foreign exchange.
Thomson Reuters News Analytics is the industry’s most advanced service for automating the consumption and systematic analysis of news. Last year, Thomson Reuters announced the extension of its offering to include sentiment information mined from millions of social media sites as well as internet news. The process involves assessing the sentiment, relevance and novelty of content to derive investment and trading signals with respect to specific stocks and sectors. The nomination for “Best Use of Social Media” reflects Thomson Reuters commitment to providing its customers with intelligent information which helps to inform their decision-making process.
With behavioral finance playing an increasing role in investment and trading strategies, Thomson Reuters further expanded its news analytics service last year to include psychological analysis of news and social media. Thomson Reuters MarketPsych Indices analyze human emotion associated with specific countries, commodities, currencies and economic sectors. This provides a “top-down” understanding of the macroeconomic environment in a way not previously possible, providing the context in which many other market signals operate.
“As the volume, types and sophistication of social media venues covering the financial sector continues to evolve, so too does its ability to influence the market”, said Asif Alam, head of Machine Readable News at Thomson Reuters. “We are thrilled to receive this award in recognition of the innovative work we are providing in the social media space and the value it is bringing to our customers.”
The FStech awards celebrate excellence and innovation in the field of information technology within the UK and EMEA financial services sector - and for the first time this year, featured a social media category. The award marks the the third product win for Thomson Reuters News Analytics and the second win for its integrated social media offering.
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial and risk, legal, tax and accounting, intellectual property and science and media markets, powered by the world's most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs approximately 60,000 people and operates in over 100 countries. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information, go to thomsonreuters.com.