Trading platform Infinox unveils free sentiment analysis tool
London-based online trading platform Infinox wants to go from a mirror to a mover with the launch of its free sentiment analysis tool.
“Sentiment is more than just a mirror on the market”
According to the firm, its artificial intelligence (AI) technology anticipated the Pound’s sharp drop at the start of August – and it is now open to all who seek wisdom and knowledge.
Jay Mawji, Infinox’s MD, says: “Sentiment is more than just a mirror on the market – it can be a market-mover in its own right.”
Mawji adds: “The Pound’s recent behaviour is a case in point. Investors’ fears of a messy, cliff-edge Brexit combined with negative sentiment to drag down sterling when conventional wisdom suggested it would rise.
“Such insights can give investors a decisive edge, but previously the prohibitive cost of the AI used to power sentiment analysis tools meant they were beyond the reach of all but the wealthiest fund managers and trading desks.”
The tool tracks more than five million data sources from around the world to build up a picture of market attitudes towards currencies, commodities, equity indices and cryptocurrencies.
The technology uses AI to ingest and analyse news stories, company announcements and social media posts – and gives investors a snapshot of market sentiment which “doesn’t just reflect price movements, but can be used to anticipate them too”.
Infinox adds that the tool is powered by separate data sources curated on its behalf by Dow Jones.
Staying on the subject of freebies, on 21 August, JP Morgan said it is launching an investing app for consumers, with free or discounted trades, a portfolio-building tool and free access to the bank’s stock research.
FinTech Futures doesn’t like to be left out and reminds readers that this news report is also free to read. So there.
