Feeding the Machine (News)
Dow Jones Elementized News Feed adds company data
A recent enhancement of the public company data available on the Dow Jones Elementized News Feed has furthered a growing trend: Computers are reading press releases, news and government reports, highlighting what's important, and passing it on to algorithmic trading models.
That's not to say that the automation of the trading function is making humans obsolete. "During development of the new Dow Jones feed, I asked traders how much they rely on automation--do they go to lunch and just let the computers keep running, choosing stocks to buy and sell?--and they replied, No way,'" said Robert Prinsky, executive director and senior editor of institutional product development for Dow Jones' enterprise media group. "The algorithms or computers could blow up. It's a balancing act and requires automation coupled with human interaction. Besides, humans are involved because we can't elementize everything."
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