Forex rates, index movements, government bond yields, commodity price fluctuations, and economic updates. Did we miss geopolitical events and earnings reports? Every day, thousands of activities that may impact trading decisions occur around the world, generating large amounts of data. As well as being fragmented, these disparate news and developments require a lot of collation and inference to reach a point where they can be applied to the financial markets. The majority of retail traders do not possess the resources or technical capabilities to accomplish such a mammoth task. This is where brokerages can set themselves apart as true enablers for their traders by making actionable insights available.
What Needs to Be Done?
Traders need timely, accurate and reliable news but for retail traders, it also needs to be actionable news. This can help boost their confidence and trading activity and improve the customer experience with you. Plus, brokers get to establish themselves as reliable trading partners.
How to Provide Actionable Content to Traders?
Technology has made vast amounts of financial news and data accessible at our fingertips. However, extracting the actionable ideas from all this data isn’t as simple. Here’s how you can do that.
Step 1 – Source the Data
Analyse all the sources of information available and really understand the value of paid services over free ones which can offer valuable content sets such as breaking headlines, commentary, and analysis plus reliable and tagged delivery formats for a multitude of data including calendar events, earnings reports, analyst outlooks, macroeconomic updates, geopolitical updates, and even social media chatter.
Step 2 – Check Its Importance
After collecting information from various sources, you have a comprehensive wealth of disparate data. Now, you need to filter out the noise. Remove any non-relevant information, unverified figures, inappropriate claims, and pump and dump updates. To do that reliably and consistently on a volume basis, you need to leverage advanced technologies, such as AI and neural networks, to gauge relevance and authenticity.
Step 3 – Analyse the Data
The next step is to categorise all the data based on trading instruments, relevance for various markets and application. This requires the use of dedicated systems with algorithms that have been tried and tested in the markets. Brokerages must ensure that all data relevant to an asset or a financial market is being used and no irrelevant data is interfering with it. Finally, infer what it means for traders and how it can drive action.
Step 4 – Visualise the Data
This is the most crucial step. All the information is now available, backed by analytics and ready to be applied. At this stage, there are three things a brokerage needs to do.
- Convert it into a format that traders can easily understand. For example, presenting the information as graphs, charts or interactive displays makes it attention-grabbing and comprehensible.
- Deliver the information to traders via simple notifications or emails. This information needs to be provided through the platforms that your traders prefer.
- Add an actionable link for traders to take action without delay. Time wasted can mean an opportunity lost!
Another aspect to consider is how you deliver the message – providing different types of information on different platforms. For example, you might send traders breaking news with actionable links to initiate trades via notifications while offering more detailed yet actionable news as dynamic newsletters if your news subscription allows.
Giving your content a personal touch that resonates with the values of your brokerage can enhance its impact on your clients. For existing traders, segmenting them and providing actionable updates relevant to their markets of interest, trading styles and competence may boost activity.
How Can You Do All That?
Brokerages need to employ advanced technologies to help traders discover trading opportunities from all the noise and infobesity on the Internet. Engaging clients requires stepping up the content on your website, portals and what you deliver to your traders’ inboxes. This won’t just boost activity but will also increase the client’s lifecycle with you. Additionally, providing targeted actionable content might reactivate dormant traders.
The primary requirement for accomplishing all the above tasks is having a solid understanding of the value of news and technology infrastructure that augments your offerings. The most efficient route is to partner with an industry leader like Acuity Trading to receive actionable content in real-time which has API-based pluggable tools that are highly customisable and offer insights at various levels – fundamental, technical and market sentiment.
AssetIQ and AnalysisIQ are comprehensive solutions to boost your content delivery across platforms with data from over 100 countries. Contact us now to discuss how customised actionable content design and delivery can help boost customer conversion, retention and activity to maximise your ROI.
