Twitter revives trading pits

Traders are using Twitter to share information about companies and markets trends.

Traders are using Twitter to share information about companies and markets trends.

According to aFinancial Times report, Twitter is replacing trading pits where traders once shared information.

Trades rely on real-time information about the markets to help them make the right decisions.

With the growth of automated trading where computers make decisions using algorithms, trading firms are linking their trading software to Twitter.

As reported in Computer Weekly, trading software maker Streambase plans to give traders the option of linking its complex event monitoring software to Twitter through an adaptor. The adaptor will help the package receive information from the microblogging website to help it make decisions on buying and selling shares.

Mark Palmer, CEO of Streambase, said that trading systems can use Twitter direct messaging to alert users of trading opportunities or system problems.

Christophe Langlois, founder of Visible-Banking, which advises financial services companies on the use of social media, said there is great potential for using Twitter in trading, but there are question marks. "It all depends on where the information comes from. It is a question of the value of information and the expertise of the person providing the information," he said.

A social media site was launched in July to help start-up investment firms compete with bigger competitors.

Hedgehogs.net provides social networking tools and business software to support small firms and individuals in the investment sector.

Users can share knowledge and market information through the website, allowing them to compete with bigger firms, said Ken Yeadon, CEO at Hedgehogs.net and managing partner at Thematic Partners, which founded the site.

Banks are also using Twitter to engage with customers.

Read more on E-commerce technology

Start the conversation

Send me notifications when other members comment.

Please create a username to comment.

-ADS BY GOOGLE

SearchCIO

SearchSecurity

SearchNetworking

SearchDataCenter

  • How do I size a UPS unit?

    Your data center UPS sizing needs are dependent on a variety of factors. Develop configurations and determine the estimated UPS ...

  • How to enhance FTP server security

    If you still use FTP servers in your organization, use IP address whitelists, login restrictions and data encryption -- and just ...

  • 3 ways to approach cloud bursting

    With different cloud bursting techniques and tools from Amazon, Zerto, VMware and Oracle, admins can bolster cloud connections ...

SearchDataManagement

Close