Twitter gives traders virtual open outcry
I was surprised to find out that the CME Group had almost 800,000 followers on twitter.
Typically, traders use Bloomberg, AIM, Email, and Phones to communicate trading ideas/rumors and deal information. Twitter is interesting in this context for several reasons:
1. "public timeline" - hence transparent and more inclusive. institutional and retail investors in the same space. Information publicly available in real-time.
2. "private if necessary" - Direct Messages (DMs)
3. "open" - The api can help us collect and harvest the value in the information, and promote innovation.
Concern... Even more than the "noisy" information on Twitter, my main concern is the reliability of the platform. Twitter needs to put out a rock solid SLA(service level agreement) and platform. I think they will:)
