The SEC is using Twitter to come back from behind and now, apparently, traders are using the social networking site to get ahead and make make money money take take money money on rumors about Jon & Kate and other info you can't wait to hear from slow as fuck newswires.
Traders are using software developed by US-based technology StreamBase to monitor "tweets" for price sensitive information.
The software plugs into Algorithm-based automated trading platforms that have been used by traders for years. But rather than searching Reuters or Bloomberg the software now scans Twitter.com.
Streambase - whose client base includes Royal Bank of Canada and London-based hedge fund BlueCrest Capital Management - was commissioned to develop the software by several "unnamed" clients.
It remains to be seen whether or not they'll actually make (or lose) any clams on it but it seems at least a few big guys are thinking twats might be the ticket to some big pay days. So far, though, they're just using it for fun.
kengriffin: K&W up 7% MTD, so f'ing back, baby!
stevieboyc: @kengriffin congrats wonderboy, only 3 yrs to go 'til the HWM
Related: SEC To Make Up For Completely F*cking Up By Joining Twitter