Thomson Reuters Updates Chatter-Tracking Tool to Cover 100 Cryptocurrencies

Thomson Reuters has launched a new version of its MarketPsych Indices (TRMI) to include market sentiment data for the top 100 Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term. The stated goal is to encourage efficiency and transparency for the virtual asset investors within the global marketplace. The step also follows the successful launch of bitcoin sentiment data in March 2018.

In a press release, the information vendor revealed that version 3.1 of its MarketPsych Indices now includes the updated sentiment data feed for cryptocurrencies that is driven by some 400 specific news and social media sites.

Developed through its partnership with MarketPsych Data, the TRMI Cryptocurrency Sentiment package (TRMI 3.1) analyses data in real-time across 2,000 news websites and 800 financial social media channels to produce data aimed at driving investment decisions.

To help identify the predictive value in the new chatter-tracking suite, the information provider says TRMI 3.1 converts both the volume and variety of professional news into quantitative and qualitative analysis for investors to distinguish between patterns across their respective business.

This includes regression and cross-sectional rotation models, to help traders identify influential themes and rapidly develop actionable strategies.

Source selection, entity recognition and contrition of several TMRI have modified and implemented across the feeds, which are already accessible through a customized API interface on Eikon platform.

Last month, Thomson Reuters launched a price data feed for virtual currencies, ‎dubbed “Cryptocurrency Real Time Rates,” building on the success of similar ‎benchmarks that Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term price data from a suite of crypto exchanges.‎

Commenting on the news, Pradeep Menon, Head of Investing and Advisory at Thomson Reuters, said: “The Thomson Reuters cryptocurrency survey revealed a shift in the market, with cryptocurrencies gaining some mainstream acceptance and financial institutions looking to start trading them over the coming months. Adding a cryptocurrency-focused sentiment feed to our suite of cross-asset solutions has therefore enabled us to provide our customers with invaluable insights that may help them make strategic investment decisions.”