Reuters offers its news for consumption in automated trading for the first time
11 December 2006. London – Reuters launches two products today that will allow its news output to be “read” for the purposes of automated trading for the first time. Both are designed to enable computers to recognize and process key items of information in Reuters news stories, allowing customers to incorporate news into their automated trading strategies.
The move underlines Reuters commitment to using innovation to improve its fast and reliable news and data offering in ways that help clients trade more effectively in today’s high speed markets. Both products take their place in Reuters complete suite of offerings for automated trading and form part of its Core Plus strategy.
• Reuters NewsScope Real-time lets Reuters clients use Reuters live news content to drive automated trading and respond to market-moving events as they occur. Each news item is “meta tagged” electronically to identify sectors, individual companies, stories or specific items of data to assist automated trading.
• Reuters NewsScope Archive lets customers replay stories as they unfolded in the market, allowing them to back-test or fine tune their trading strategies in response. Once linked with Reuters Tick History – an archive of tick-by-tick price data - clients will be able to accurately map historic price movements against the news stories that generated them.
Tom Glocer, Reuters Chief Executive Officer, said: “For the first time Reuters is enabling customers to leverage the strength of our global news service to power automated trading. The globalization and complexity of financial markets are driving greater use of computers to execute trading strategies. Our clients are incorporating news into their automated trading strategies and our latest offerings can help them find undiscovered value.”
Peter Moss, Global Head of Reuters Enterprise Division, said: “Many clients are now starting to look beyond traditional data sources and want to access to Reuters news to give an added dimension to their automated trading. Our NewsScope products are an important addition to the Reuters suite of automated trading offerings now available to our clients.”
Reuters has 2,300 editorial staff in 196 bureaux, serving approximately 129 countries. Last year the company filed nearly three million news items, including 520,000 news alerts, from 204 countries around the world published in 20 languages. Reuters news is seen by over one billion people every day.
Note to Editors:
Automated (or algorithmic trading) uses pre-programmed machines to execute the algorithms that define the way in which they will trade. These machines can trade at sub-millisecond speeds and are becoming increasingly common. An estimated forty per cent of the trades now made on the London Stock Exchange and fifty per cent of trades on the New York Stock Exchange are now thought to come from these systems.
Reuters is the world’s largest international news and financial information source. Known for its speed, accuracy and independence, Reuters content powers newsrooms and financial markets around the world. Reuters distributes its text, data, pictures and video to professionals and direct to consumers via online and digital services. Founded in 1851, Reuters Group has 16,800 employees in 89 countries and had annual revenues of £2.4 billion/$4.4 billion in 2005. For more information and the latest news, visit www.reuters.com
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