Saturday, March 03, 2007

Reuters plans Myspace for financial services

Seems like everybody is doing it. Latest cab off the rank is Reuters.

The news agency is hoping to draw from the 70,000 subscribers of its messaging service as a starting point for a foray into the social media sector.
"You will see us, later in the year, launch a version of MySpace for the financial services community," said the chief executive, Tom Glocer. "It won't have the latest hot videos and the 'why I am into Metallica and the Arctic Monkeys' blogs. Instead we are going to give our financial services users the ability to post their research or if they are traders, their trading models."

The website will also be exclusive to Reuters subscribers. "People don't want to have 100 friend requests from teenage girls in Florida if they are trading the credit derivatives market, but they probably are interested in being able to share research," said Mr Glocer.
Well, I don't know about that. You could probably argue there are quite a few traders and fund managers who would love 100 friend requests from teenage girls in Florida.

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