Communication is clearly the life blood of any trading organisation, you only have to ask anyone in the city to realise this. They need to be one step ahead of the game in many respects and be tightly connected to the latest news. 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. However, because the world of finance often moves faster than a speeding bullet, traders need to get the latest information from a wide variety of sources, and they need it now. The social media platform Twitter is now a tool that is being used by many traders to keep up with business knowledge according to the National Australia Bank (NAB).

Twitter, which is known as a micro-blogging site, allows users to update their profiles with posts of a maximum 160 characters. This keeps the ‘tweets’ short and concise, “which is what traders like” says Henry Allan of the London Lite Trading Group. Users within a certain niche, such as the Beacon 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.

Some people have voiced concerns that Twitter could be used as a platform for insider trading as messages can be sent out privately to people using the site. 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

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