2013-12-01bloomberg.com

"As a concept, the idea that instead of phoning everybody all the time you might just have a chat open with your clients to tell them useful things seems eminently logical," Juckes said. "If you give them dumb names and you use them as a place to discuss what your orders are and rig a market, we could obviously see what that might do to the future of chat rooms. If abuse of the technology means that we can't do it anymore, we'll have to find a different way of adding that value."

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While chat rooms help information get around more widely and quickly and leave a verifiable written record, traders and brokers can still be selective about sharing information, Carbone said. That contrasts with trading pits, where everyone has the opportunity to hear all trades, and on exchanges that feature public bids and offers.


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