According to Reuters, Nasdaq Inc. has launched a service to aid traders and fund managers in utilizing data from central bank announcements, social media, retail sentiment, etc. in order to improve trading profits.
The exchange operator said machine intelligence, a subset of artificial intelligence, will derive signals from end-of-day data that can be used to enhance investing strategies. This will be utilized by the Nasdaq Analytics Hub and traders alike.
Data from third party providers and Nasdaq are checked sternly by the financial technology startup, Lucena Research. Global head of machine intelligence and data services at Nasdaq, Mike O’Rourke, said in an interview. “We back test the data using a number of strategies and then we use machine intelligence to add value-added analytics to the data that allows firms to make it more actionable.”
The exchange operator said it would add new data sets and sources with new insights and analytics on a continual basis.