RiskTech Forum

Thomson Reuters Launches Bitcoin Sentiment Data Feed for Trading and Risk Management

Posted: 13 March 2018  |  Source: Thomson Reuters

Thomson Reuters, through its partnership with MarketPsych Data LLC, has launched a new version (v3.0) of its MarketPsych Indices (TRMI) which includes its first sentiment data feed for Bitcoin in addition to new and/or enhanced market sentiment data for several asset classes, new user capabilities, and additional coverage. MarketPsych is a market leader in quantitative behavioral economics.

Over 400 news and social media sites, many specific to cryptocurrencies, were added to the feed.  Each site is scanned and scored in real-time, aiming to capture market-moving sentiments and themes.  TRMI v3.0 also includes expanded sentiment coverage of national fixed income securities and stock market indexes for the top 61 global economies and the Eurozone. Coverage was also further expanded in the currencies, countries, and agricultural commodities asset classes.

From a user perspective, modifications were implemented in source selection, entity recognition, and the construction of several TRMI, designed to result in a higher precision of TRMI measurements compared to prior versions. Data is delivered via minutely, hourly, and daily feeds with historical data extending back to 1998.

“News and social media are driving the investment and risk management process more than ever with the continuing rise of passive and quant-driven trading,” said Austin Burkett, global head, Quant and Feeds, Thomson Reuters. “As the financial marketplace rises in complexity, so too does the need to provide our clients with not only the relevant data, but the tools to help them manage and analyze that data. MarketPsych 3.0 helps deliver another layer of analysis and value-add in the investing process.” 

Launched in 2012, Thomson Reuters MarketPsych Indices analyze news and social media in real time across 2,000 top global news sites and 800 global financial social media sites. TRMI converts the volume and variety of professional news and social media into manageable information flows that can help drive investing decisions and risk management across asset classes. The data is designed to  be seamlessly incorporated into both quantitative and qualitative analysis to help enable investment and other professionals to quickly discern patterns affecting their respective businesses. MarketPsych’s text analytics engine uses patented natural language processing software.

Thomson Reuters delivers transparent cross-asset insight into both traditional and new and emerging asset classes like crypto assets. Thomson Reuters currently provides prices for Bitcoin, Ethereum, Litecoin, Ripple and Bitcoin Cash via our flagship financial desktop platform Eikon. In addition, Eikon carries MVIS indices contributed by Cryptocompare and CBOE and CME Group’s bitcoin futures, and will continue to evolve to meet the changing needs of our customers.