More signal, less noise – fine tuning MRN services for FX

As Machine Readable News gains further traction in FX, Nicholas Pratt examines the reasons for its growing use and how the providers are extending their offerings.

The providers of machine readable news services – from low latency macroeconomic news feeds to real-time sentiment analysis trackers – continue to develop and release new services, therefore supporting the idea that FX traders are turning to MRN in increasing numbers. Furthermore, the use of MRN has evolved from being a ‘circuit-breaking’ risk management tool for FX traders to being a core component of their trading strategies and a source of alpha generation in its own right.  NASDAQ OMX, the US-based global exchange company which operates a multitude of stock exchanges and has a portfolio of technology products, released its Event-Driven Analytics service in December 2011. According to Philip Adesso, head of Event Driven Analytics, there is not just an increase in adoption among FX traders, but a steadily growing interest in alpha generation within all asset classes. Adesso attributes the growth of MRN uptake to several factors. The first of these is the evolution of FX...continued

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