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Alternative Market Briefing

Hedge funds, banks, high-frequency traders hire technology firm to analyze tweets from traders

Monday, July 06, 2015

Komfie Manalo, Opalesque Asia:

A handful of hedge funds, banks and high frequency traders are paying as much as $15,000 each per month per stock symbol to technology firms that analyze over one million tweets from traders, investors and market commentators to determine their sentiments, reports The Journal.

iSentium LLC, an obscure Florida-based technology firm, has joined a handful of sentiment-analysis startups.

"What we’re telling you is what does the mob or the crowd say today," said Gautham Sastri, president and chief executive of iSentium. "Twitter is a big pipeline of emotion and we’re providing a snapshot."

For years, many investors and traders have secured the services of companies such as Dataminr Inc., to help them analyze feeds from Twitter and other social media to determine market sentiments. But the ability to parse those posts to discern subtle trends is a new frontier, the paper says..

Companies like TheySay Ltd., PsychSignal, Guidewave Consulting also offer sentiment-analysis products to research analysts, banks and hedge funds. Boston-based asset manager Tashtego LLC also announced plans to launch a sentiment-driven fund later this year.

Bloomberg reported in April that hedge fund ......................

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