Algorithms identify market-moving alerts in the commodities market
Contix, the leading social media event detection platform exclusively for traders, today announced the addition of commodities tracking. Now, traders will be able to track real-time developments in the commodities sector through social and traditional media using Contix’s groundbreaking platform. Contix already provides expansive analysis of the equities market.
With volatility in equities markets spilling over into commodities, traders and institutions are looking for a way to stay on top of breaking news that could impact the market. Contix mines over 500mm social media and traditional posts daily to provide traders with valuable social intelligence that can impact commodities prices.
“The impact of China’s Black Monday on global commodities is just one example of the need for real-time alerts in this market,” comments Ryan Bailey, CEO of Contix. “With one news outlet reporting a bust in commodities while another is suggesting a bounceback in the market, traders need to be making trading decisions based on market-moving commodities news events as soon as they occur.”
With the addition of commodities coverage, Contix provides both retail and institutional traders access to event detection and alerts across the commodities sector, including:
Daniel Leuck, CTO of Contix, comments, “Our trading clients had expressed strong interest in commodities event detection, in addition to the equities markets. With the amount of data related to commodities flowing through both traditional and social media, Contix can add enormous value to any institution with commodities exposure by surfacing the earliest mentions of valid market-moving news to the trader, as soon as news occurs. We are always seeking to expand the platform’s coverage and will be rolling out several new sectors, themes and asset classes over the next 12 months.”
Contix is the leading social media event detection platform focused exclusively on the financial services industry. Contix delivers actionable alerts on market-moving news surfaced from social media sources. The company’s unique event categorization technology clusters related news from social and traditional sources to maximize breaking news coverage and place news in market context including price, trading volume, discussion volume and sentiment. Working with both institutional and retail traders, Contix helps discretionary equities traders act on breaking news events to generate alpha.
Binna Kim, Vested