Mostly… fixed income and cross product eTrading

November 8, 2007

eTrading on Facebook?

Filed under: Client Onboarding, etrading, Nuts and Bolts — holky @ 3:10 pm

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The news has covered it many times – yes companies losing millions in terms of lost productivity because people are facebooking each other rather than getting on with their latest excel spreadsheet. The world is doomed with everyone spending their day in Facebook installing and using apps to prod/poke or conduct zombie or werewolf wars against their friends.  Just scoot around Facebook looking for your colleagues and you’ll see a gazillion US students with names similar to those you are seeking, and when you do connect with your colleagues you’ll quite possibly get to see their holiday snaps – yes the bloke who is always Mr Sensible in the smart suit every weekday is Mr Speedo (or worse) on the beach…. So sure – I can see why there might be reluctance to site your business in that environment (though would that environment remain so “personal” if more businesses set up shop there?)

How about linkedin though? Its already got an implicit business stamp of approval, so is the addition of Google OpenSocial Api which allows developers to integrate applications in javascript and html (rather than limiting them to using proprietary fbml in and for Facebook) into/within a social network, a catalyst to moving institutional etrading/esales closer to the South Korean model of trading in conversational manner electronically?  So take the etrading gui away from inventory pages and the like and instead onto contacts pages for conversation, negotiation … leading to execution captured electronically?

So why would one of the existing platforms integrate one of the social networks such as linkedin for their clientbase?  Well, is there any value in making the user group for the venue in question more public (at least among that user group) and providing some form of authentication of their identity, just as Bloomberg do with their MSG userbase?   And if people are using social networks from where they aggregate everything then dig into whatever they wish to spend their time on, then shouldn’t the etrading platforms offer them a route to do this for their offering too?

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