NEW YORK--(BUSINESS WIRE)--The Associated Press, the world’s foremost source for news and information, has forged a multi-year relationship with RavenPack, a leading provider of news analysis technology, to create an innovative suite of real-time news analytics products for the financial industry. The new products will leverage the AP’s unmatched depth of content across multiple platforms to provide analysis of market moving events that can be put into action.
As part of the agreement, AP and RavenPack will develop a series of products, the first of which is scheduled to launch in the first half of 2011. The products will process AP content with sentiment analysis techniques to produce metrics than can be consumed by quantitative models and trading programs. As a result, computers reading signals from the news can create trading transactions or alert traders to specific events.
“This relationship with RavenPack will fully leverage the power of our newsgathering organization and provide an excellent extension of our services,” said Claire Wachter, Development Manager for Financial Products, The Associated Press. “We look forward to launching these products in response to growing demand in the marketplace and continuing to develop new revenue streams from our global news content.”
The first product to be launched as part of the new relationship is designed for equity analysis and will focus on company-related news stories. The product will analyze news stories in real-time to detect events and changes in sentiment for more than 28,000 publicly traded companies.
“We are extremely excited about this opportunity to collaborate with such a large and highly trusted news organization,” said Armando Gonzalez, President & CEO of RavenPack. “The AP’s depth and breadth of coverage will provide our clients with the most comprehensive information available. Numerous studies have shown that news analytics calculated from wide-ranging, trusted and reliable sources provide diversification benefits to traditional investment models, thereby adding value to existing trading strategies."
About The AP:
The Associated Press is the essential global news network, delivering fast, unbiased news from every corner of the world to all media platforms and formats. Founded in 1846, AP today is the largest and most trusted source of independent news and information. On any given day, more than half the world’s population sees news from AP. On the Net: www.ap.org.
About RavenPack:
RavenPack specializes in developing solutions for analyzing, interpreting and delivering actionable information from real-time news media. Using the most advanced techniques in linguistic analysis, RavenPack provides real-time alerts, indicators, and other analytics derived from global news providers. The company delivers value-added content within milliseconds of news publishing. For more information, please visit www.ravenpack.com.