As it continues to evolve its business offerings, Reddit has announced a new partnership with Intercontinental Exchange to facilitate the development of advanced data and analytics products for the financial industry.
The new collaboration will see the creation of systems that link real-time Reddit chatter and trends with market analysis, providing deeper contextual insight into what’s driving key shifts.
As explained by Reddit:
“Similar to how brands use social listening tools to analyze public conversations to better understand how their audiences think, feel, and take action, we’ll tap into and analyze the 16 billion+ (and growing) posts and comments on Reddit to build new tools aimed at rethinking and improving portfolio optimization, algorithmic trading, event-driven strategies, due diligence, and more.”
Twitter had long offered similar, through integrations with its API, with Twitter data often helping to give market analysts advance notice of key shifts that would eventually impact stock prices. Reddit’s new offering will provide the same, and while Reddit conversation may not be as broad-reaching as Twitter insights had been (Reddit has 97.2 million daily active users, versus X’s 250 million), the breadth of topics, combined with Reddit’s engaged, and knowledgeable communities, could make this a valuable signal for such.
As per Intercontinental Exchange:
“The rich data set that flows across a platform like Reddit has the potential to provide opportunities for our customers as they look for new opportunities in global markets. 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.”
It could be a valuable addition, and while not everyone will be able to access or use these new insights, it could also help Reddit to understand how it can refine its own data analytics and trend tools, in order to provide a broader set of conversational insights.
If you’re interested in checking out Reddit trends, you can also sign-up for Reddit Pro, which provides access to insights (requires Reddit approval for access).
Source link
