Bailey McCann, Opalesque New York:
Eagle Alpha, a web curation company has launched a new Twitter application for financial firms that is compliance approved. Social Sonar works and looks a lot like TweetDeck, one of the most popular Twitter applications but unlike traditional Twitter apps, is read only and heavily curated to focus primarily on market moving financial news.
With 500m tweets, 200m tweeters and 135,000 new users each day it is becoming increasingly difficult to unearth relevant data. Social Sonar channels intelligence on stocks and global macro topics through lists created by former buy-side analysts and researchers. The company says that both investors and traders will benefit from the service which provides 90 lists of influencers sorted by topic. Tweets are then searchable and stored for up to five years.
"There is a very low signal to noise ratio on the web especially when it comes to financial information," Eagle Alpha CEO and founder, Emmett Kilduff, tells Opalesque. "Employees in banks and hedge funds can't access social media for the most part, but there is valuable information out there that could be helpful."
The service is available to market participants seeking an investment edge including the buy-side, sell-side, corporates and retail investors. Social Sonar provides clear records and audit trails to meet all compliance requirements. According to Kilduff, in the future the company plans to include feeds from other social m......................
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