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I think Bloomberg chat is much less important as a social network these days. It's heavily monitored by compliance departments and any communication that diverg

by bsdz 6y ago

I think Bloomberg chat is much less important as a social network these days. It's heavily monitored by compliance departments and any communication that diverges from direct market trading is generally frowned upon.

DanBC 6y ago
Did that happen after the LIBOR scandal? https://wallstreetonparade.com/2012/12/why-was-libor-rate-rigging-committed-over-the-bloomberg-terminal/ https://wallstreetonparade.com/2012/12/why-was-libor-rate-ri... > What the complaint makes clear is that it should not have taken five years to bring these charges. The traders effectively handed the Justice Department a slam dunk case by documenting each maneuver to rig the international interest rate benchmark known as Libor via instant messages recorded on a Bloomberg computer terminal.
- bsdz 6y ago
  That was one contributing factor. There have been a lot of high profile scandals and this has led regulators to be far stricter. Eg we're not allowed to have personal phones in the office and must go to special areas in the building to use them. Some organisations confiscate phones (and I hear shoes) on entry; although I think this is more a concern about proprietary information.
  - disconcision 6y ago
    > I hear shoes Do people slide around in their socks or is there some kind of bowling shoes esque system?
    - userbinator 6y ago
      Sandals are common.
- andrepd 6y ago
  They can just "establish" the network using Bloomberg and actually discuss illegal things off-channel e.g. Signal.
  - refurb 6y ago
    Meh... if you look at SEC cases of insider trading, they usually get wind of it from the trades - out of the money calls purchased a week before earnings release and expire a week later. Then they just start talking to the people involved. Most people fold pretty quickly.
- apaprocki 6y ago
  > Did that happen after the LIBOR scandal? IB has been fully monitored by compliance since its inception, so nothing changed there. Whether or not firms have working compliance departments is probably the question you should be asking :)
manquer 6y ago
It still helps with discovery of potential contact . the actual transaction/communication of interest to both parties may happen outside using other more private means
fargo 6y ago
I don't think there is any other social network or IM app that allows you to ping CEOs all over the world
- dogfoods 6y ago
  You can @ the President of the United States on Twitter
  - exikyut 6y ago
    And immediately light yourself up for attention from a hivemind and the utterly unpredictable torrent of entropy that may follow.
- dx034 6y ago
  Honestly, writing an email probably also gets you there. If sent from the right domain (big bank, asset manager or even pension fund), you'll get attention quickly. It's not about the channel, it's about signaling who's on the other end of the line. If you IB a CEO with a Bloomberg account from some university or so, you'll probably have little success getting a reply either.
tpmx 6y ago
Source?

by bsdz 6y ago

DanBC 6y ago

Did that happen after the LIBOR scandal? https://wallstreetonparade.com/2012/12/why-was-libor-rate-rigging-committed-over-the-bloomberg-terminal/ https://wallstreetonparade.com/2012/12/why-was-libor-rate-ri... > What the complaint makes clear is that it should not have taken five years to bring these charges. The traders effectively handed the Justice Department a slam dunk case by documenting each maneuver to rig the international interest rate benchmark known as Libor via instant messages recorded on a Bloomberg computer terminal.

bsdz 6y ago
That was one contributing factor. There have been a lot of high profile scandals and this has led regulators to be far stricter. Eg we're not allowed to have personal phones in the office and must go to special areas in the building to use them. Some organisations confiscate phones (and I hear shoes) on entry; although I think this is more a concern about proprietary information.
- disconcision 6y ago
  > I hear shoes Do people slide around in their socks or is there some kind of bowling shoes esque system?
  - userbinator 6y ago
    Sandals are common.
andrepd 6y ago
They can just "establish" the network using Bloomberg and actually discuss illegal things off-channel e.g. Signal.
- refurb 6y ago
  Meh... if you look at SEC cases of insider trading, they usually get wind of it from the trades - out of the money calls purchased a week before earnings release and expire a week later. Then they just start talking to the people involved. Most people fold pretty quickly.
apaprocki 6y ago
> Did that happen after the LIBOR scandal? IB has been fully monitored by compliance since its inception, so nothing changed there. Whether or not firms have working compliance departments is probably the question you should be asking :)

manquer 6y ago

It still helps with discovery of potential contact . the actual transaction/communication of interest to both parties may happen outside using other more private means

fargo 6y ago

I don't think there is any other social network or IM app that allows you to ping CEOs all over the world

dogfoods 6y ago
You can @ the President of the United States on Twitter
- exikyut 6y ago
  And immediately light yourself up for attention from a hivemind and the utterly unpredictable torrent of entropy that may follow.
dx034 6y ago
Honestly, writing an email probably also gets you there. If sent from the right domain (big bank, asset manager or even pension fund), you'll get attention quickly. It's not about the channel, it's about signaling who's on the other end of the line. If you IB a CEO with a Bloomberg account from some university or so, you'll probably have little success getting a reply either.

tpmx 6y ago

Source?