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Article

Title: Wall Street 2.0

Author: Rodier, Melanie Article Type: Product Analysis
Source: Wall Street & Technology, v26 n1 p24(5) Publication Date: Jan 2008
  ISSN: 1060-989X
URL of Publication: http://www.wallstreetandtech.com

Web 2.0 technologies consist of a number of different items including, but not limited to, wikis, blogs, and RSS feeds, as well as social networking sites. However, financial firms are currently swept up in the trend and looking into how Web 2.0 technologies can be used in order to help give their customers various collaborative tools that they have come to expect from the online world. The list of financial companies that are using these technologies is continuously growing, whether the companies are using the technologies internally or outside the company. While it has been stated that enterprise social networking is still in its infant stages, many believe that it will eventually become something that is commonplace and widespread. It is believed that some of the best traders will come about with help from these Web 2.0 technologies because they allow traders to share strategies. In addition to these leaps in technology, many traders are also concerned about the threats to security that would go with it. Some individuals are worried that Web 2.0 technologies allow individuals to access the source codes of others who have not authorized the sharing of information. From there, attacks can be attempted without the knowledge of those who are being attacked. While many firms acknowledge that they need to address the security concerns of their users, they have not yet been any real solutions proposed that would work long term.

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