TECHNOLOGY

Integration of Instant Messaging Option for Support Help

Integration of Instant Messaging Option for Support Help

Introduction

Instant messaging has been popular since its invention, and the number of instant message (IM) systems are growing almost exponentially. Whether embedded in proprietary programs—usable on certain websites only—or via free-standing platforms, there is generally an IM system that suits almost everyone (Instant Messaging, 2006). The original instant message systems used to communication and negotiate complex products and source liquidity have evolved to include an integrated set of powerful tools that support the familiar instant message chat screen, but extend their functionality greatly.  For many front-office users, these tools, which include liquidity and client management blotters as well as monitors, which aggregate incoming and outgoing message data, have eclipsed the chat screen in terms of utility and sheer power.

In this paper we will study Thomson Reuters Case to decide how live chat and instant messaging can be implemented in such problem oriented organization. This paper discusses the evolution of instant message systems in recent years and the broadening of their collaboration, work flow optimization and liquidity management functionality, which has made these systems not only sticky, but indispensible among high-touch market users.  

Discussion

Market growth is being driven by many factors, including faster mobile Internet access and the increase in social networking applications. Twitter and Facebook on the mobile device have helped bring mobile social networking to the masses, changing public perception and shifting usage from strictly PC-based access to mobile. As a result, users have a variety of contacts from different communities, such as Facebook, Twitter, Gmail and they don't want these groups to remain in isolation from each other.

Recent news coverage and analyst reports have noted the continued preference of equity options market participants for negotiating complex, sizable options transactions using voice and instant message systems rather than monolithic cash-equities style crossing networks, which have been introduced into the options markets in recent years.

Moreover, this robust functionality is prompting buy and sell-side market participants to expand the ways in which instant-message systems are used (Ward & Kern, 2006).  For example, a U.S.-based equity options market maker recently implemented an enhanced instant message system to rework their pricing and risk management engines. The result was a 30 to 60-fold increase in the speed in which the firm prices markets, from nearly a minute previously to less than a second now.

 

Business Description

Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. It combines industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, healthcare and science and media markets, powered by the world's most trusted news organization (www.thomsonreuters.com).

Thomson Reuters Case (Issue and Solution)

As discussed above, world's leading source of intelligent information provider find a voice and instant message systems optimal for negotiating trade elements and sourcing liquidity. This preference is driven, in part, by the intuitive, natural communications modes of these two formats. Given the popularity of instant messaging, however, it ...