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. There is however an ever-increasing demand for information to be supplied and received faster and more readily. 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 is a micro-blog tool that works by people uploading ‘tweets’ which are of 160 characters or less. This obviously ensures that ‘tweets’ are not too long and focus on the key points, something that city business men find refreshing. Users within a certain niche, such as the obstruction light 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. 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.
There have been some groups that have frowned upon the use of Twitter as they say it has potential to be a portal for insider trading as messages can be sent privately. 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
