Thu, 20/10/2016 - 10:08
ETX Capital has launched the US Election News Sentiment Index, a tool that displays the quantity and tonality of media coverage towards the presidential elections.
Harnessing the power of big data using technological advancements in Natural Language Processing (NLP), the index draws on the same capabilities exploited by their other online news sentiment tools, which offers their traders insight into how the global investment community is feeling towards their favourite tradable assets.
News sentiment has been widely integrated in to professional trading rooms over the past five years although it is still a relatively new adoption for online brokers due to its complex data and delivery methods.
Through the visual tools offered by Acuity Trading, ETX Capital began integrating news sentiment into its platform last year via its website and MT4.
ETX Capital will be the first to monitor the avalanche of media opinions towards the US elections in real time.
Neil Wilson, market analyst at ETX Capital, says: "Election cycles are highly emotive events that are scrutinised in depth by the media, therefore taking centre stage in a trader’s outlook. During BREXIT we needed a tool to help our traders understand the swift dynamics of media opinion. By working with Acuity Trading we have reacted quickly to client demands and are now offering this US Election Index, a first in terms of technology and product in the market. We hope to bring more innovations like this to market in the future through our continued partnership with Acuity Trading."
News sentiment tools can precede market movement so having a tool that can consistently and accurately monitor the global opinion towards the candidates in the lead up to the election results will help traders who are either motivated to trade by the volatility created by the elections or who want to be able to monitor their trades more easily during this time of uncertainty.
Andrew Lane, CEO of Acuity Trading, says: "This US Election News Sentiment Index is a really exciting step for ETX Capital who have been championing the use of this technology in the retail financial markets for some time now. We are still only on the cusp of what will be possible with big data in financial markets and Acuity Trading aims to lead this revolution by partnering with likeminded organisations such as ETX Capital. This US Elections Index is, for the first time, able to offer traders a reliable barometer of how the media and financial markets are interacting around the US elections which has direct knock-on effects to the global financial market."
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