City traders and other Bloomberg terminal addicts can look forward to to getting more Twitter data to help make smarter decisions.
We already know that when markets get moving, Twitter follows suit - but it goes the other way too, with tweets moving markets.
Bloomberg and Twitter are now expanding their partnership, according to reports on news site Tech Crunch. Far from just a shallow social media platform, this reflects Twitter’s growing power to impact markets, as Chris Moody, the company’s vice president of data, told Tech Crunch:
Our agreement with Bloomberg highlights the growing importance of Twitter in driving investment and trading decisions.
Increased access to this information through the Bloomberg Professional service will continue to accelerate as the adoption of Twitter data through the financial services community grows in importance.
Twitter data has been available to terminal users for over two years, as Bloomberg started pulling data in back in early 2013, which Brian Rooney, Bloomberg’s core product manager for news, told the FT was due to popular demand:
We were getting a growing amount of demand from clients to get it integrated into Bloomberg.