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BNY Mellon to update Nexen with sentiment analysis

Bank of New York Mellon is partnering with Heckyl Technologies to update its Nexen platform which will provide asset management clients a tool for performing sentiment analysis of their portfolio holdings. Nexen is a cloud-based platform that uses application programming interfaces, to enable its own applications and those of third parties to easily connect with each other and with asset management clients who opt to use them. To use the new application, asset management clients will feed data about the companies in their portfolios to Heckyl, which will then give the companies a sentiment score, using more than 120,000 different information sources. According to Heckyl Technologies, the sentiment data can alert investors to mood changes before a company’s price actually moves.

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