| [June 21, 2005] |
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Newstex Adds Automated Chart Pattern Recognition from Recognia; Newstex Content on Demand Now Includes 'Technical Events' Developed for Financial Content Distributors and Trading Platforms
NEW YORK --(Business Wire)-- June 21, 2005 -- At the Securities Industry Association (SIA) Technology Management Conference which opened here today, Newstex, the Content On Demand(TM) company, announced that it will integrate the Technical Event Commentary(TM) content from Recognia Inc., an industry leader in automated chart pattern recognition and technical analysis. The integrated offering is available to clients immediately.
Every evening at market close, Recognia's patented pattern recognition technology analyses the price charts of every publicly traded stock to identity trading opportunities based on the principles of technical analysis. When a chart pattern or other price signal is identified, Recognia's systems generate automated commentary based on these "technical events" including projected price points and timeframes. Newstex will offer clients Recognia's Technical Event Commentary(TM) delivered each day before market open for United States equity markets (NYSE, NASDAQ, AMEX), Canadian exchanges (TSX, TSX Venture), as well as United Kingdom equities and global foreign exchange markets.
"Valuable content for financial professionals includes anything that gives market participants an edge," said Larry Schwartz, Newstex President. "Technical event content from Recognia allows traders and fund managers to monitor many more technical signals than can be scanned visually. The addition of Recognia's automated technical commentary based on chart pattern recognition as a component of Newstex premium newsfeeds will provide additional "actionable" content to our financial product line."
Traders, analysts and investors who rely on technical analysis typically focus on a few stocks and monitor them visually on an infrequent basis. Research by Recognia indicates that typical financial professionals are capable of monitoring a maximum of 50 to 75 charts per day. The Recognia system greatly enhances human capabilities by scanning more than 16,000 charts per day thus providing comprehensive and timely technical alerts. Recognia commentary can be accessed by any news application capable of integrating XML content.
"Technical analysis is a well-established method for identifying trade signals," said Rick Escher, Recognia Founder and President. "But when technical analysis can be used to monitor the entire market, and when it is combined with the fundamentals of news content, it becomes truly valuable. Recognia Technical Event Commentary combined with premium content from recognized sources makes the Newstex Content On Demand offering unbeatable in the market."
The Recognia system identifies chart patterns and other price signals based on technical analysis and delivers them as actionable headlines which are processed by the Newstex NewsRouter system. Newstex adds ticker symbols and other metadata to the headlines and then combines content from Recognia with premium content from other sources into Newstex NewsFeeds. Delivered via Content On Demand, the offering enables content distributors and enterprise customers to cost-effectively integrate full-text premium newsfeeds at reduced cost, minimum risk and optimum ROI.
About Newstex
Newstex offers Content On Demand, including tailored, real-time news and commentary from thousands of branded newswires, newspapers, magazines, financial and business sources, official government feeds and weblogs. Newstex collects full-text digital news and commentary feeds, standardizes the content format, adds stock ticker symbols, people tickers and categories, and instantly delivers the result as easy-to-integrate XML or RSS newsfeeds.
Content On Demand from Newstex is the fastest way for content distributors and enterprise customers to cost-effectively integrate full-text premium newsfeeds at reduced cost, minimum risk and optimum ROI. For more information, please visit www.newstex.com or email info@newstex.com
About Recognia Inc.
Recognia Inc., a privately held company founded in 2000, provides automated chart pattern recognition and technical event identification to financial web sites, online brokerages and other trading institutions. Recognia's patented technology is capable of recognizing patterns and other formations in the price charts of any publicly traded financial instrument including stocks, bonds, funds, commodities, currencies and indexes. Recognia also provides a range of delivery methods that allow brokers, and other organizations, to deliver this information to their clients and account holders. Recognia maintains an unrivaled historical database of information relating to chart patterns and other technical events, providing historical context and past performance information. www.recognia.com
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