Corporate | 12 August 2013 12:56
|
Baader Bank AG / Key word(s): Alliance/Investment
Baader Bank and Clueda bring Big Data analysis tools to securities trading 12 August 2013 Baader Bank and Clueda AG are bringing Big Data analysis tools to securities trading. Baader Bank’s partnership with Clueda has enabled the bank to establish an extensive and electronically-available pool of knowledge (Big Data) , making extremely rapid and informed decisions possible. As part of the Real-Time News Analytics project, clueda.trader , among other tools, will be deployed in the future at the trading desks of Baader Bank. Clueda.trader filters redundant information from the news streams of Bloomberg, compresses the information and then focuses on trading-relevant events. That makes it possible for traders to identify truly trading-relevant and market-moving information from the flood of 200,000 potentially investment-critical news reports delivered daily. For a leading securities specialist like Baader Bank, it is extremely important to deploy the most modern technological solutions in all areas of the bank. ‘We have spent two years looking throughout the world for this solution, which provides our traders with an immense time advantage,’ said Uto Baader, Chairman of the Board of Directors of Baader Bank and a member of the Supervisory Board of Clueda AG. ‘The consolidation of the contents of news reports makes it possible for us to take our decisions just that little bit faster,’ added Uto Baader. The partnership between the two companies in the News Analytics project resulted in the development of the clueda.trader, clueda.report and clueda.research products. They enable texts to be processed in real time, leading to a steadily growing semantic network with hundreds of millions of nodes and billions of edges. This will provide Baader Bank with numerous competitive advantages: redundant information is filtered from different sources, trading-relevant events are condensed and then automatically separated from unimportant information. This creates a substantive consolidation of news that provides a head start compared with traditional methods of processing information. In addition to Baader Bank, which has a ten per cent strategic stake in Clueda AG and is represented on its Supervisory Board by Uto Baader, the know-how is also available to other market participants through the introduction of a corresponding Bloomberg app. This app processes information from Bloomberg news reports in the same way that clueda.trader does. Clueda is currently the only German company that is entitled to produce an app for Bloomberg. The range of services of the partnership and the News Analytics project was unveiled this Monday at a press conference in Frankfurt am Main by Uto Baader, Chairman of the Board of Directors of Baader Bank, and Dr. Volker Stümpflen, CEO of Clueda AG. In addition, both companies will introduce the project on 24 and 25 September at the Computerwoche ‘Best in Big Data’ congress in Frankfurt am Main. About the companies: Baader Bank is one of Germany’s leading investment banks and the market leader in the trading of financial instruments. In investment banking, it develops financing solutions for companies in German-speaking countries. The bank offers comprehensive services to institutional investors in marketing and trading of equities, bonds and derivatives. As a market maker/specialist, Baader Bank is also responsible for the pricing of more than 700,000 exchange-traded and OTC securities. www.baaderbank.de Clueda offers software solutions for semantic and associative knowledge extraction and analysis. As a spin-off from the Institute of Bioinformatics and System Biology at the Helmholtz Zentrum München, the company is one of the leading global providers in this field. Clueda extracts informational relationships in real time from the flood of irrelevant and often redundant data. Since Clueda’s algorithms work in associative processes – similar to the way the human brain works – they evolve over time into learning systems. With the help of Clueda, companies can deduce moods and opinions as well as develop objective predictions in real time on the impact of the analysed information. That way, Clueda helps its customers generate valuable knowledge and obtain concrete guidance for decision-making processes. Clueda AG was founded in 2012 in Munich, following more than ten years of intensive research and development work, and currently has about 20 employees. www.clueda.com Press contacts: Baader Bank AG: Horst Bertram, Corporate Communications, Office: + 49 89 5150 1882, horst.bertram@baaderbank.de Clueda AG:
Bernhard Michalowski, SCRIPT Consult GmbH, Office: +49 89 242 10 4111,
End of Corporate News 12.08.2013 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
| Language: | English | |
| Company: | Baader Bank AG | |
| Weihenstephaner Str. 4 | ||
| 85716 Unterschleißheim | ||
| Germany | ||
| Phone: | +49 89 5150 1882 | |
| Fax: | +49 89 5150 29 1880 | |
| E-mail: | communications@baaderbank.de | |
| Internet: | www.baaderbank.de | |
| ISIN: | DE0005088108 | |
| WKN: | 508810 | |
| Listed: | Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München (m:access), Stuttgart; Frankfurt in Open Market | |
| End of News | DGAP News-Service |
|
|
| 225140 12.08.2013 |