Launch for Stock Market Chat Analyst HedgeChatter

US firm HedgeChatter has launched out of beta with a dashboard which it says allows investors, traders and hedge funds to see how key influencers on social media are affecting stock prices and price trends.

Based in Dallas, Texas, the firm was founded in 2009, aiming to examine how different types of online media were being used to disseminate stock market information and find individuals or groups who were accurately forecasting or potentially influencing stock price direction.

Using the new tool, the firm processes nearly 1.8 million financial chatter messages every day from Twitter and other social media channels, and these messages are filtered for noise reduction, manipulation detection and price-to-message correlation. Prior to launch, the platform was beta tested with multiple hedge funds and financial advisors who have between $500m and $2bn in assets under management.

CEO James Ross (pictured) comments: 'Hedge funds, wealth management firms and high-net-worth individuals have begun looking for ways to incorporate social media's impact on stock price into their overall trading strategies. HedgeChatter not only looks at volume, but the tone of the conversations and author reputations, to deliver actionable insights from social media and news feeds. Clear and definitive social insights on stock price is exactly what HedgeChatter.com provides.'

Web site: www.hedgechatter.com .