State Street Launches News Insight Application
Named Verus, the application scores news articles based on their potential impact on a portfolio.
The application, called Verus, uses machine learning and natural-language processing to determine the relevance and impact news articles could have on a stock holding or a whole portfolio. It harnesses articles from Thomson Reuters and processes more than 1,000 articles per day, determining their relevance and comparing their probable impact on holdings.
Stephen Marshall, head of Verus at State Street, says the application was made to ensure hedge funds and asset managers were able to clearly
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