Nasdaq launches a new smart data enhanced initiative

The service makes use of big data gleaned from a variety of sources and uses a subset of artificial intelligence to generate analytics so as to make the resulting information actionable.

In what is likely to be a significant development for fund managers and quantitative traders, Nasdaq Inc has launched a service which they can use to glean data from social media feeds, retail sentiments, central bank announcements, and other sources to improve their trading margins.

The exchange operator disclosed that its news service, the Nasdaq Analytics Hub, uses machine learning techniques, a subset of artificial intelligence, to derive information from end-of-day data to lift data that market participants can use to enhance their investment strategies.

As per Mike O’Rourke, the global head of machine intelligence and data services at Nasdaq, the data from this new service is rigorously vetted with the help of Lucena Research, a financial technology startup.

“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.”

Nasdaq said, it will add new data sets and sources to provide new insights and analytics, on a continual basis.


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