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I used to work for a financial news service. The Fed's interest rate announcements were automated; they hit the wire service, which had an automated template to
by vonnik 11y ago
I used to work for a financial news service. The Fed's interest rate announcements were automated; they hit the wire service, which had an automated template to push out headlines on the news (human oversight but not much intervention); and the high-speed traders had NLP to interpret the headlines, place a bet and move the market, generating more news for automated headlines. The circle was complete.
- IgorPartola 11y agoI came here to say exactly this. I can only imagine how the news will look after being through the ringer a few times. Also, do these systems have any cycle detection so that the same story is not retold over and over?
- harmegido 11y agoWell it'd all be news. Here's the steps: 1) Fed makes announcement (news generated) 2) Machine traders read news and make appropriate trades 3) Markets move (if big enough, news generated) 4) Machine traders see markets move, possibly make appropriate trades 5) Markets move again (if big enough, news generated Each movement in the markets, if it were big enough to be news worthy, would generate a news event. That is ok, because news readers would want to know about large market movements (well other news readers would - I really wouldn't). It's up to the traders to decide if they want to keep buying/selling.
- mring33621 11y agoA nice positive feedback cycle!