RiskTech Forum

Bloomberg launches AI-powered market forecasting application

Posted: 30 May 2018  |  Source: Bloomberg

Bloomberg today announced the launch of a new price forecasting application for investment professionals powered by artificial intelligence (AI). The “Alpaca Forecast AI Prediction Matrix” is an application (app) that provides short-term market price forecasts for major markets such as USD/JPY, EUR/USD, AUD/JPY, CME Nikkei 225 Futures Index and US 10-year treasury bonds, using Bloomberg’s Market Data Feed (B-PIPE).

Developed jointly with AlpacaJapan, a startup that specializes in AI solutions for financial trading, the app uses a cutting-edge deep learning engine to analyse tick data at a speed and volume beyond the ability of the human eye. AlpacaJapan’s AI technology recognizes patterns in the waves of price movements instantly, making market predictions possible.

Kuni Ishibashi, Bloomberg’s head of Japan said, “We are thrilled to introduce this new app as it embodies our mission to fuel innovation in the financial market place. By bringing Bloomberg’s real time market data and AlpacaJapan’s specialized technology together, we have developed a leading-edge forecasting tool which can help financial professionals make better investment decisions and improve trade workflow efficiency.”

Morifumi Yotsumoto, Co-founder & CEO at AlpacaJapan said, “Globally, AlpacaJapan is one of the fastest growing fintech leaders among AI-driven financial solution providers. We believe this opportunity is a milestone for us to move on to the next phase. With this state-of-the-art application, we can bring the most advanced AI market forecasting capability to the global financial community, right to their desks in an instant.”

The Alpaca Forecast AI Prediction Matrix is available on the Bloomberg App Portal, a function on the Bloomberg Terminal that offers subscribers access to a range of specialty applications across asset classes. The Bloomberg App Portal is powered by Bloomberg data and news, with apps developed by software companies, financial institutions, academics and other third parties. Analysts and portfolio managers can find apps for data analysis and visualization, news and research, portfolio management, risk analysis, technical analysis, as well as pricing and valuation. Institutional clients can also use the Bloomberg App Portal to deploy proprietary software tools to their own employees and clients.

Bloomberg’s Market Data Feed (B-PIPE) enables global connectivity and gives firms access to Bloomberg’s composite tickers and market indices along with consolidated, normalized market data for 35 million instruments across all asset classes, including data aggregated from more than 330 exchanges and 5,000 contributors.