A.I. news analysis firm Almax Analytics testing with SUMO Capital

Rick Steves

A first-to-market service for news analysis by Almax Analytics, Artificial Intelligence for News Insights in Capital Markets, is soon to hit the financial industry in the form of technology provides traders an A.I. news filter and analyzer, helping market participants to envisage new trading opportunities based on news data flow. Jonas Dromberg, former Bloomberg Bureau […]

A.I. news analysis firm Almax Analytics testing with SUMO Capital

A first-to-market service for news analysis by Almax Analytics, Artificial Intelligence for News Insights in Capital Markets, is soon to hit the financial industry in the form of technology provides traders an A.I. news filter and analyzer, helping market participants to envisage new trading opportunities based on news data flow.

Jonas Dromberg, former Bloomberg Bureau Chief and investor behind the Seed Round of investment, said: “With soaring network and processor speeds, the processing power of the Internet is becoming powerful enough to help trading technology expand from a pure quant realm to a more qualitative space, such as news. Predicting stock movements automatically from news flow helps free investments from unproductive arbitrage trading to more common-good investments.”

 Almax Analytics, was first introduced in January 2016 as KPMG Luxembourg’s Innovative Companies at the European Alternative Investment Funds. Having successfully completed the Seed Round in London, with investors such as MCSI Inc., Aviva plc, the Fintech SEIS Fund and Jonas Dromberg, the firm is already planning the Series A financing round.

The Almax Analytics team, developing in Finland with company HQ in London, includes experts such as Chief Executive and Founder Balazs Klemm, Dr Peter Sarlin, Research Director and Founding Member, and Head of Strategy and Marketing Karen Bertoli.

balazs
Almax Analytics Founder Balazs Klemm; Source: LinkedIn

“We are pleased to have gathered this calibre of first round investors and thankful for all of the support from our partners in Luxembourg and the UK,“ said Balazs Klemm, Chief Executive and Founder of Almax Analytics. “In a short amount of time since first announcing we have listened and learned from Hedge Funds, Investment Banks, Exchanges and Vendors on the demand for this complex technology which powers high precision news analysis.“

Co-Founder Dr. Peter Sarlin said: “Almax Analytics technology responds to one of the greatest challenges facing capital market practitioners; feasibility for humans to read and absorb the sheer quantity of news available. For this reason, many important events and relationships are going undiscovered.”

The firm that is developing a real-time decision making technology for the capital markets is testing with SUMO Capital. Results are expected by July.

 

Read this next

Digital Assets

BlackRock digs further into crypto with metaverse ETF

BlackRock, the world’s largest asset manager with almost $10 trillion in AUM, is set to launch a new metaverse ETF to help investors securely monetize on the booming immersive version of the internet.

Digital Assets

Binance wins license in New Zealand as rival Huobi shutters derivatives

Binance, the world’s largest crypto exchange by traded volume, has obtained licenses to operate in New Zealand, even after rival Huobi shutdown derivatives trading last month due to concerns about regulations.

Retail FX

Hong Kong busts perpetrators of ‘ramp and dump’ scam

Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), has charged thirteen suspects of market manipulation in a joint operation with the local police.

Institutional FX

TradingView integrates market data from German Tradegate exchange

TradingView announced that it ‎has increased data coverage to allow its users to receive information from ‎and get free access to the intra-day and tick data from Tradegate Exchange.

Retail FX

Spotware Systems introduces Custom Push Notifications for cTrader mobile apps

Spotware Systems, a technology provider for the electronic trading industry, is introducing a new push notification feature to alert mobile users of price swings and market fluctuations through their cTrader app.

Market News

The Week Ahead: 30 September from David Madden, Market Analyst at Equiti Group

Sterling dominated the headlines last week, as there were concerns the UK government might struggle to service its debt.

Inside View

How does the quality of signal providers affect your business?

A must-have onboarding process for brokers with investment services like PAMM, MAM, or copy trading

Technology

DBS deploys Nasdaq Trade Surveillance

“The confidence that markets and our clients have in DBS as a safe and trusted banking group is anchored on our ability to detect and respond to anomalous activity, which in turn calls for a robust surveillance and prevention infrastructure.”

Industry News

SEC charges Justin Costello and David Ferraro for securities fraud and posing as billionaire veteran

The Securities and Exchange Commission charged Cannabis executive Justin Costello and David Ferraro, an associate of Costello’s, for promoting the stock of several microcap companies on social media without disclosing their own simultaneous stock sales as market prices rose.

<