Blogackers

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. These mediums have served traders well previously but they are always on the lookout for more convenient and pioneering methods for getting and giving information. 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. There is very little that is still local when it comes to city trading these days and often businesses and individuals need to stay connected to lots of other people around the world, who may be working in different time zone. 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.

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 multicore cables 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