RavenPack, provider of big data analytics to financial institutions, has partnered with Alliance News, a real-time newsroom dedicated to the UK market.
Alliance News specialises in breaking news on all UK listed stocks, economic issues, central bank decisions and currencies. RavenPack helps clients enhance returns, reduce risk and increase efficiency by systematically incorporating the effects of public information in their models or workflows.
Peter Hafez, chief data scientist, Raven Pack, told IBTimes UK: "Raven Pack is covering a large set of sources, both when it comes to major news wire services but also when it comes to more local news. Of course the challenge is to find sources that will bring in unique and relevant and timely content that is interesting to investors.
"One of the things that RavenPack does is to identify these types of valuable sources. As part of that work we have found Alliance News to be especially valuable to our UK investors, or more generally to our global investors that are interested in trading UK markets."
Raven Pack has formed a direct relationship with Alliance News to consume all of its news and then it feeds this into the RavenPack's algorithms and structuring process, which then assists existing quant clients and asset managers to beat benchmarks. Hafez compared Alliance News to US news providers such as Bezinga or Sleekmoney.
He said the service offers good coverage of earnings news, analyst ratings, as well as macro news that moves markets including central bank news for the G7 plus China, Ireland and Switzerland.
Alliance News chief executive Tom Waite said in a statement: "The Brexit vote and its fallout have created a highly news-driven market in London, so the quick Alliance News reporting on corporate actions, broker ratings and public policy is more influential than ever."