Automatic Text Summarization for Traders and Other FinTech Guys

So big heading for so simple idea and implementation.

Hi all, hi-fin-tech guys! I bet you spent a lot of time reading financial news, looking for the perfect shorting/longing stock. And, I bet that you don't have time enough to read all the data. I know, so many web sites to read for information, with the morning coffee. Then you open your email, and no surprises here: at least 10 emails from your daily subscriptions on financial news aggregators. Need a list of them? Just reach me on [email protected] and you'll get a curated list.

Have you ever counted how many hours per day you are spending on reading such news? And yet, those early morning hours are not enough: you have allowed a lot of sites to send you push notifications about the latest news. And of course, to know whether to close some of your opened positions or open new ones, you have to read the news.

And, this is 2021, and once again, HuggingFace comes to save your time with his NLP models.

Enjoy in financial texts summarization: three paragraphs in two short sentences.

Example:

National Commercial Bank (NCB), Saudi Arabia’s largest lender by assets, agreed to buy rival Samba Financial Group for $15 billion in the biggest banking takeover this year.NCB will pay 28.45 riyals ($7.58) for each Samba share, according to a statement on Sunday, valuing it at about 55.7 billion riyals. NCB will offer 0.739 new shares for each Samba share, at the lower end of the 0.736-0.787 ratio the banks set when they signed an initial framework agreement in June. The offer is a 3.5% premium to Samba’s Oct. 8 closing price of 27.50 riyals and about 24% higher than the level the shares traded at before the talks were made public. Bloomberg News first reported the merger discussions. The new bank will have total assets of more than $220 billion, creating the Gulf region’s third-largest lender. The entity’s $46 billion market capitalization nearly matches that of Qatar National Bank QPSC, which is still the Middle East’s biggest lender with about $268 billion of assets.

Squeezed in:

NCB to pay 28.45 riyals for each Samba share. Deal will create Gulf region’s third-largest lender NCB to pay 28.45 riyals for each Samba share. Deal will create Gulf region’s third-largest lender.

Ok, maybe not too perfect, for you, maybe some vital information is missing. But yet, there is potential in this. Readable compression comes with a price, you know.

Interested in implementing such "a thing"?

You have two options:

1. Implement the following piece of code wherever most appropriate in your software, according to instructions on human-centered-summarization/financial-summarization-pegasus · Hugging Face, or
2. Reach me on [email protected]

Have a nice day & cu!