People – Market gossip, from blogs to regulatory filings, is to meet a new automated monitor and filter system on behalf of hedge funds.
The system, named Monitor110, is designed to trawl through more than 40 million internet sources as an aggregator and a filter for hedge funds trying to keep up with the explosion of information sources on the internet, such as blogs, according to the Financial Times newspaper on Thursday.
Scheduled for an official launch early next year, the platform is being run by a former Deutsche Bank executive and has received financing from, among others, Draper Fisher Jurvetson, the venture capital firm that backed Skype before it was sold to Ebay for 4.1 billion U.S. dollars last year.
Ten hedge funds are trying out the system, it said.
