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Staying Connected In The Financial Markets With Twitter
By racer48 | September 3, 2009
Communication is clearly the life blood of any trading organisation, you only have to ask anyone in the city to realise this. They need to be one step ahead of the game in many respects and be tightly connected to the latest news. This information tends to come from a great deal of sources, including mediums such as press releases, business statements, cable news channels and many more. There is however an ever-increasing demand for information to be supplied and received faster and more readily. The social media platform Twitter is now a tool that is being used by many traders to keep up with business knowledge according to the National Australia Bank (NAB).
Twitter is a micro-blog tool that works by people uploading ‘tweets’ which are of 160 characters or less. This keeps the ‘tweets’ short and concise, “which is what traders like” says Henry Allan of the London Lite Trading Group. Users within a certain niche, such as the alpha wire sector, can follow other Twitter members who they want to receive updates from, and can themselves be followed. In the modern world of city trading where companies world in global markets, people from various different countries, sectors and time zones need to have easy communication channels. This is made possible via Twitter, which allows various information and media outlets to communicate and feed off each other, often supplying information as it develops and without bias.
Some people have voiced concerns that Twitter could be used as a platform for insider trading as messages can be sent out privately to people using the site. Although supporters such as this cable ties business are quick to point out that this was always possible via email and the real power comes from the ability to alert hundreds of thousands of people publically, which of course can be monitored for underhanded dealings if necessary
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