The closure of the world's trading pits has isolated traders in front of flashing screens from Korea to Essex. Now, the social media phenomenon is offering to reconnect people - and futures and options specialists are loving it. Tom Osborn reports.
FOW’s 2009 Awards for Innovation highlighted
two parallel trends. Most obvious was the derivatives
industry’s relentless drive for speed, for higher
volume orders executed at ever lower latencies.
But the second, led by
CME Group’s award for its pioneering use
of social media, was perhaps more intriguing. A
profession that relies on up to the minute information and
microsecond advantages for its livelihood is developing an
appetite for sharing news and information online.
The two strands are anything but contradictory. The drive
for ever lower latency – trying to connect to an
exchange at maximum speed – highlights how far the
market has moved from the old trading pit. But some things
about floor trading are missed – notably the community
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