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Twitter Embraced By City Traders
By racer48 | August 31, 2009
Communication is clearly the life blood of any trading organisation, you only have to ask anyone in the city to realise this. It is vital for them to have open channels of communication with others and be connected to the latest business information. 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. However, because the world of finance often moves faster than a speeding bullet, traders need to get the latest information from a wide variety of sources, and they need it now. Twitter is something that has been used by the masses for a few years now and according to the National Australia Bank (NAB) has recently caught the eye of traders who are using it to get info from the horse’s mouth.
Twitter, which is known as a micro-blogging site, allows users to update their profiles with posts of a maximum 160 characters. This is something that traders really like about the site as it forces posts to be concise and avoid waffle. Users within a certain niche, such as the obstruction lights sector, can follow other Twitter members who they want to receive updates from, and can themselves be followed. The financial sector operates in a global market these days and people need to be able to stay in touch with lots of different people who are in different countries and different time zones. Twitter allows groups of people from various sectors such as the media, banking and business to alert each other of the latest updates or discuss predicted market trends.
Because there is a function that allows users to send and receive private messages via Twitter, some parties believe that it could possible used for insider trading. 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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