Moscow Exchange, Cindicator to test collective intelligence of traders

Moscow Exchange, Cindicator to test collective intelligence of traders

Can the collective intelligence of non-professional traders, aided by robots, lead to correct forecasts for the prices of USD/RUB, Brent, Gold and Silver?

Russia’s biggest trading platform Moscow Exchange, or Moskovskaya Birzha MMVB-RTS PAO (MCX:MOEX), is interested in exploring the limits of collective thinking. The Exchange announced today its partnership with fintech startup Cindicator, with the two organizing an exciting experiment set to check whether the forecasts made by a large group of non-professional traders are correct.

Beginning January 19, 2017, anyone interested in the financial markets, may post his/her forecasts for the prices of futures traded on MOEX, via the Cindicator mobile app. The Cindicator trading robot will then aggregate the group forecasts for each instrument (futures contracts on USD/RUB, Brent, Gold and Silver) and will model trades. The robot will also publish the results of these trades in a special Telegram channel.

At the end of the experiment, some inferences should be made as to whether the collective intelligence of a large group of people, in synergy with the artificial intelligence of trading robots, may generate profits on the Exchange.

The experiments is sort of a competition. The more correct the forecasts, the bigger the prize pool will be. The top performers are set to get money rewards, whereas the Number 1 winner will also get an iPhone7.

More information about this experiment can be found at its dedicated website.

FinanceFeeds keeps exploring the use of robots in the financial services industry. This happens in a moment when we witness an apparent push for using AI solutions in the sector, with programs on their way to replace human workforce in certain fields. Japan’s Fukoku Mutual Life Insurance has decided to let go 34 members of its claims assessment personnel redundant, replacing them with bots.

Perhaps the Russian experiment will show that synergy instead of direct competition is possible.

#Cindicator, #fintech, #futures, #Moscow Exchange, #Moskovskaya Birzha MMVB-RTS PAO (MCX:MOEX), #trading, #trading robot

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