Reddit Conversations to be Analysed for FS Client Use

Reddit has partnered with technology and data firm Intercontinental Exchange, Inc. (ICE) to create and distribute new data and analytics products for the financial industry, based on the millions of conversations taking place on the social news and community networks site.

Reddit boasts more than 100,000 active communities and around 97 million daily active unique visitors, and adds millions of posts, comments, videos and audio files each day, capturing a spectrum of public opinion and trends which will now be used for aggregated sentiment analysis, early trend identification and custom analytics.

ICE, which operates markets and clearing houses for financial transactions worldwide, brings data science and machine learning expertise to the partnership, as well as infrastructure. The firms say the new products will offer 'innovative datasets and analytics to participants in capital markets': potential use cases include portfolio optimization, algorithmic trading, event-driven strategies, risk management and due diligence.

Jonathan Flesher, VP Business Development and Partnerships at Reddit, comments: 'The conversations that take place on Reddit on any given day or any given minute can offer a real-time look at the news and trends that are happening around the world. These conversations could be a valuable tool for commercial partners such as ICE to offer new products to their customers to help improve and inform trading strategies or algorithms, or understand public sentiment of markets as they are happening in real time'.

Chris Edmonds, President of Fixed Income and Data Services at ICE adds: 'We look forward to leveraging our deep experience with alternative datasets to create products and services utilizing Reddit's Data API that can help give our customers valuable insights into the markets and also help them manage risk across their portfolios'.

Web sites are at www.reddit.com and www.ice.com .