Information Overload for Financial Firms
Very interesting article on how the financial system is struggling with the overload of information not being exploited and how to filter what is noise and what could be monetised.
“What we’re talking about is noise, and how we can make sense of that,” says Stuart Taylor, CEO at London-based Algomi. “In a typical trading-floor environment, there are thousands of potential opportunities coming through voice channels, the e-channels, and information that you just happen to pick up along the way. Each one of them has the potential for a trading opportunity. What we try to do is say, if we’re looking at brokering the flow then it’s not necessarily about printing 10,000 trades in a day—it’s about finding out what the right 400 or 500 great trades that a bank should be focusing on today are, based on information it knows, and ensuring that content gets to the top of the list for everyone.”
Algomi is one of a number of platforms seeking to blend certain social-media mechanisms with trading, in this case the arrangement of fixed-income sales. It uses a combination of intelligent information management with advice on potential partners, not unlike suggestions for contacts that appear on LinkedIn or Facebook, but on a deeper scale.
For the full article, click here.