The birth of the $3.98T FX Social Network
Horses for courses
Industry specific social networks work well.The
success of Currensee and FXvroom for retail FX
traders and Mallowstreet for the Pension funds
industry will find their mark as long as they stay on
target.
LTFX is for professional market participants only.
New members are either invited directly or referred
by colleagues. But all are vetted to assure that only
relevant content is both submitted and commented
on in a professional manner. For everything else, email
Betty.
One of the problems withTwitter for example is
the noise of irrelevant detail. On LTFX I think I’m
unlikely to see a post that the Global Head of FX at
Roland White Bank X is having a “gnarly time dude”. But I could be
“We’ve been approached by many major wrong.
institutions wanting to be involved and a very large
number of people have pre-registered, and we I’d think that many a marketing department will be
haven’t even launched. It’s remarkable” salivating at the launch of LTFX, as they will now have
a way to participate in social media advertising. A lot
of brands have, until now, been completely preventedAs well as the birthplace of future products and services
from using or have only a limited presence on FB andfor the market. Vendors would be able to obtain
the like. Let alone a meaningful one onTwitter. Here’scustomer needs, spot market problems, and therefore
their chance to access this new way of communicatingdefine new products, even test and gain feedback, much
with customers and suppliers alike.faster. You could, in theory even service global clients
from this one location faster and cheaper than today.
Much like the existing successful social media
sites, I suspect that Monday’s weekend stories andAll wrapped up in a slick service, which recognizes
Friday afternoons will be the busy time for LTFX. Ithat a large part of the industry is ‘boys playing with
personally will be looking forward to reading Betty’shigh tech toys’. Which is why there’s a FantasyTrading
amusing content before moving onto the seriousgame that allows friendly competition amongst traders
market or industry coverage.that is fully within the compliance rules.
“Did you read the one about the dealing room thatAs well as my personal favourite the ‘Tales of the City’
had a fish tank in the chief dealers office, and one daysection with gossip columnist Betty ‘Cable’ Grable.
a disgruntled trader, went and ……..”Who will share funny market stories from over the
years, but also the antics of last night around the
I suspect that Kelly’s trading room will allow access toworld. (names and addresses withheld of course)
LTFX all day, as it’s a good source of both social and
market network communication, and that’s alwaysThe site will also have market commentary from
been a large part of how this market works. BIFNcontributing editors Stirling Mark and Marc
FRDS.French. For those old enough to remember
using Reuters Dealing 2000 the ODD1 page
was always more popular than FXFX.
|april 2010 e -FOREX 75
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