NEW YORK, NY - 06/09/2016 (PRESS RELEASE JET)
Institutional investors have been extensively using news analytics technologies to make better trading decisions. Their ability to utilize state-of-the-art technologies, such as Accern, provides them an undeniable edge over self-directed investors. With over $15 billion in assets under management, various hedge funds are utilizing Accern’s news technology in their trading strategies.
Accern is working towards democratizing news information and leveling the playing field on Wall Street between individual and institutional investors. This will be the first time that the state-of-the-art technologies that are only available to institutional investors are made freely available for individual investors.
“We understand that most individual traders cannot afford to pay for existing news technologies. Their needs are a lot different from institutional investors. For the last three months, we have worked with individual traders to identify their requirements and features to fulfill their needs. We launched the alpha version of our real-time news surveillance platform in March 2016, to which over 500 users signed up. We are structurally collecting feedback from those who are using our platform, and improving the platform. In the coming months, we will open up the platform to the public, allowing traders to use it for free,” Kumesh Aroomoogan, co-founder and CEO of Accern, said.
Self-directed investing is a growing trend that's becoming more and more prevalent. The entire U.S. self directed trading population is about 54 million, according to Aite Group. On August 1, Accern will launch a real-time web surveillance platform that aims to give individual investors a head start on important stories about U.S. public companies before they are exposed to the mass media. Using advanced data science, it identifies low-exposed stories and determines which ones are impactful financial events, and from reliable sources, in order to alert users of them long before they are common knowledge.
"Every day we are processing well over 10 million articles. The web is extremely noisy, and it is extremely difficult to filter out the noise and provide users with highly relevant and actionable stories, especially in an industry where significant capital will be invested based on the product’s performance. That’s why we barely have any competitors trying to monitor over 20 million websites for stories," Anshul Vikram Pandey, co-founder and CTO of Accern, said. "It took us two years and a lot of work to build one of the world's most sophisticated and scalable big data infrastructures to solve this problem. Bringing technologically advanced solutions to the mass market is always game-changing. We are curious to see how that will affect the market dynamics."
Accern is opening up a waitlist for individual investors looking to get early access to the free platform. You can go to accern.com and enter your email to join the waitlist. Every week, they will be selecting a few early adopters to test out the beta platform. The higher you are on the waitlist, the faster you will get access to the platform.
Accern is a real-time web surveillance platform that alerts users on actionable stories about U.S. public companies. By monitoring over 20 million public news, blog, SEC filings and social media websites, it identifies low-exposed stories and uses advanced data science to determine whether the stories are reliable and impactful.
By using this systematic approach, Accern is able to provide users with quick delivery of actionable stories before they are exposed to the mass media. This helps its users make quicker and more informed decisions in their investment strategies.
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