Boston, September 27, 2016 – “Chat,” the first form of real-time electronic textual communication, came to capital markets in the late 1990s. But over the past two years, we’ve been in the midst of a chat war between incumbent and new communications platforms. It’s also not the only chat war going on—many in the front office consider both their compliance staff and the regulators to have opened a war on front-office chat usage. Compliance and the regulators might agree, based on the chat communications they’ve uncovered. But can proper compliance monitoring, controls, and governance restore and maintain chat’s legitimacy in capital markets?
This research is the first in a series of three reports on chat in financial services, and it provides an overview of chat’s past, present, and future in capital markets as well as its place in the standard trading evolution of most financial products. It is based on Q1 to Q3 2016 Aite Group meetings and phone interviews with market participants, electronic platforms and markets, and vendors.
This 28-page Impact Note contains three figures and three tables. Clients of Aite Group’s Institutional Securities & Investments service can download this report, the corresponding charts, and the Executive Impact Deck.
This report mentions Bank of America, Barclays, Bloomberg, BNY Mellon, Chase, Citigroup, CME, Credit Suisse, Deutsche Bank, Facebook, Goldman Sachs, ICE, Line, LiquidityBook, Liquidnet, Markit, Microsoft, Rabobank, RBS, Slack, Symphony, Tencent, Thomson Reuters, Trillian, UBS, Verizon AOL, and Yahoo.