Bloomberg expands machine readable news

Machine readable news has been making slow and steady inroads in the financial world, attracting the backing of such companies as Thomson Reuters, which recently launched its NewsScope Direct product (investment news). The goal of course is to automate the process by which daily events, in the form of news reports, are integrated into trading software and algorithms (high-frequency trading news).

Bloomberg, as you would expect, is on the hunt as well (Bloomberg news). It has expanded its machine readable news offering. The new service includes an indication of the most read articles and the most written about companies and topics through analyzing more than 30,000 global news sources. This can provide an indication of how quickly news about a particular company or event is being digested by the world.

Bloomberg says it categorizes and tags text so that it can be interpreted by computers, ascertaining the company being written about and the general topic at certain confidence bands. These signals can be used to make trading decisions or set up predefined parameters. 

For more:
- here's a Securities Industry News article

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