Online trading platform taps Twitter for market sentiment
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Back when we first covered Derwent Capital Markets, the startup was hoping to create a hedge fund that relied on Twitter and Facebook posts to measure market sentiment. The company has now changed tack and is pushing forward with a new product – DCM Dealer - an online spread betting and contract for difference trading platform which integrates its social media sentiment analysis. According to reports, DCM closed its Absolute Return fund after one month due to a difficult climate, despite returning 1.86 percent on its shares. Aiming its new product at day traders, the company offers live news feeds,…
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