IntercontinentalExchange, Reddit enter data product partnership

Intercontinental Exchange (ICE) and Reddit (RDDT) “announced an agreement for Intercontinental Exchange to leverage Reddit’s Data API to research, create and distribute new data and analytics products for the financial industry. The products will leverage Intercontinental Exchange’s extensive data science expertise and the vast data available through Reddit’s Data API to offer innovative datasets and analytics to participants in capital markets. With millions of daily posts, comments, videos and audio, Reddit captures a full spectrum of public opinions and trends that can be used by financial market participants for aggregated sentiment analysis, early trend identification and custom analytics. By applying Intercontinental Exchange’s extensive data science and machine learning expertise, and infrastructure to the vast set of content provided over Reddit, this collaboration seeks to identify datasets and product offerings that provide transparency and insight into the trends that are moving global markets. Some of the potential use cases include portfolio optimization, algorithmic trading, event-driven strategies, risk management and due diligence.”