Now analyzing over 500mm social and traditional media posts daily
Proprietary algorithms identify validated market-moving trading alerts
Internal social network enables institutional trading collaboration
HONOLULU – June 23, 2015 – Contix, the leading social media event detection platform exclusively for traders, today announced robust enhancements to the Contix platform that further enable alpha-generating opportunities for retail and institutional traders. Contix has expanded to mine both traditional and social media to identify key market events that impact stock prices. Contix also now offers social networking functionality so that traders can further collaborate within their own teams in a compliant way.
“As the lines between traditional and social media blur, traders need to be using every possible surveillance opportunity to ensure they don’t miss valuable minutes when a stock price may be moving,” comments Ryan Bailey, CEO and Co-Founder of Contix. “In an environment where even Twitter’s earnings results are broken via Twitter, traders and investors have a unique opportunity to be leveraging social intelligence to make swifter trading decisions as and when valid news events occur.”
In the most recent suite of enhancements, Contix has expanded to mine over 500 million social media and over 500 traditional media sources each day. Taking in the Twitter firehouse and traditional media updates, the platform uses natural language processing and statistical analysis to surface events algorithmically. Through a unique credibility assessment process, Contix identifies breaking news events reported by valid sources on Twitter or traditional media outlets that will impact specific equities and alerts the trading universe.
Also, now available to enterprise-level traders at asset managers, hedge funds, prop desks and other institutions, Contix offers in-platform social networking functionality, to allow traders to collaborate on trade ideas. All networking in the platform is compliant with FINRA regulations over social media and communications.
Daniel Leuck, CTO and Co-Founder of Contix, comments, “Unlike sentiment analysis firms, Contix focuses on event detection because traders need intelligence that is unambiguously actionable. By surfacing need-to-know events that will impact a stock price, Contix enables institutional and retail traders to quickly move on news events before the wider public is made aware. Our alerts have flagged breaking news 15, 20, even 30 minutes before the news is reported on other outlets – price movements during these deltas can exceed 10%.”
Contix is the leading social media event detection platform exclusively focused on the financial services space. Available at three different tiers – Foundation, Pro and Enterprise – the Contix platform is designed to act as a valuable intelligence tool for discretionary equities traders. For more information, visit www.contix.com.
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.