1.A APPENDIX: STRUCTURE AND CONTENT OF
NEWS DATAIn this appendix we summarize the services offered by two leading providers of news
analytics, namely Thomson Reuters (News Analytics) and RavenPack (NewsScore).
The information is presented under three main headings: (i) coverage, (ii) method
and types of scores, and (iii) example of news data in tabular form.
1.A.1 Details of Thomson Reuters News Analytics equity coverage and available data
(i) Coverage
Real-time and historical equity coverage
Commodities and energy: 39 C&E topics
Equity:
All equities 34,037 100.0%
Active companies 32,719 96.1%
Inactive companies 1,318 3.9%
Equity coverage by region
Americas: 14,785
APAC: 11,055
EMEA: 8,197
Equity coverage updates:Bi-weekly updates for recent changes (de-listings, M&A,
IPOs).
History:Available from January 2003 (history kept for delisted companies; symbology
changes tracked). Version control procedures enable clients to test ‘‘as-was’’ versions as
well as system enhancements. With new enhancements and scoring logic, history is
rescored from 2003 and provided to client.
Data fields:Eighty-two metadata fields including Timestamp (gmtin milliseconds),
linked counts over various time periods which measure repetition, linked item cross-
references, language, topics, prevailing sentiment, detailed sentiment, relevance, size of
item, broker action, market commentary, number of companies mentioned, position of
first mention, news intensity, news source, story type, headline, company identifier,
among others.
Delivery mechanisms:Internet/VPN, co-location, dedicated circuits, FTP, Thomson
Reuters Quantitative Analytics/market quantitative analytics, and deployed onsite for
customers wanting custom analytics and proprietary sources analysed.
News sources:Reuters and a host of third-party sources as standard; able to process
customer-specific sources including internet feeds, PDF files, and text from databases.
Applications of news analytics in finance: A review 25