Nasdaq has launched a service to help fund managers and quantitative traders better use data from social media, central bank announcements, retail sentiment and other sources to improve trading profits, Reuters reports.
The Nasdaq Analytics Hub will use machine intelligence, a subset of artificial intelligence, to derive signals from end-of-day data that market participants can use to enhance investing strategies, the US exchange operator was quoted as saying Tuesday.
The data from Nasdaq and third party providers would be vetted vigorously with the help of financial technology startup Lucena Research, an official with the US bourse told Reuters.
“We back test the data using a number of strategies and then we use machine intelligence to add value-added analytics to the data that allows firms to make it more actionable,” the executive said.
Nasdaq plans to add new data sets and sources, as well as new insights and analytics, on a continual basis.
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