Liquidnet has acquired Prattle, a provider of automated investment research solutions for financial professionals as part of the continued expansion of its artificial intelligence (AI) investment analytics platform.
By acquiring Prattle, Liquidnet, , now has access to its proprietary Natural Language Processing (NLP) and Machine Learning (ML) system.
The system is able to produce analytics which measures sentiment and predicts the market impact of content that is available to the public, such as central bank and corporate communications like company earnings and press releases.
This system allows asset managers to understand and anticipate market movements, the statement said. Prattle, which was launched in 2014, provides predictive analytics on around three thousand publicly traded companies and 15 central banks.
Source: LinkedIn
“This acquisition further supports our goal to help our Members generate better performance by providing them with the data they need to create greater conviction in their investment ideas, and then execute those ideas with speed and efficiency.”
Following the acquisition, Evan Schnidman and Bill MacMillan, the founders of Prattle, will continue to oversee the daily operations of the company. They will report directly to the President of Liquidnet.
Source: LinkedIn
Liquidnet Continues Expansion Efforts
The acquisition of Prattle is the latest for Liquidnet and follows on from the company’s recent acquisition of RSRCHXchange, a marketplace for asset managers and its earlier acquisition of analytics platform OTAS Technologies, as .
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