Batteries Not Included
While I still remain unconvinced as to its long-term viability, I remember that first time that I really "got" Twitter. I'd been signed up since 2009 after being more or less forced into it by friends and colleagues at the publishing house I was working for at the time. We were told, repeatedly, that social media was "important", and that we all needed to develop an online "presence".*
We all thought that was rubbish of course, having just witnessed the startling extermination of MySpace a few years ago. But nonetheless, we dutifully signed up, and then most of us promptly left our accounts to gather virtual dust. Our presence, as it were, turned into a noticeable absence.
It was until a few years ago that I started to use Twitter again, and then realized its worth to me as a personalized feed of breaking news, rather than treating it the same as the status update box on Facebook. Now, as most of you who follow me will attest, I'm sure, I tweet far too much for my own good.
I had a slight sense of déjà vu when reading last Friday's lead story on Japanese trading architecture, filed by my US editor, Anthony Malakian. The primary thrust of the story is on the monopoly enjoyed by the Japan Exchange Group, but it's the latter part of the story that started me thinking about having all of the tools, but no real grasp of what to do with them.
It's like that in Japan, apparently. They have all of this high-speed, low-latency, electronic trading archtecture, and a market structure that allows for alternative venues to spring up as and when needed, but nobody really knows what they're supposed to accomplish with them. It's a bit like there's been a copy-and-paste job of the US and EU markets transplanted into an Asia-Pacific setting, when maybe the whole apparatus isn't exactly right for the environment. It's not a problem with the technical ability, as with myself and Twitter. It's knowing how to best use that innovation.
I've often wondered about this when I hear about firms expanding into new territories, the accompanying press material often talking about untapped opportunities and expanding market structure. It makes the planet seem homogenous, when in reality, it's anything but. Just ask the people in charge of reporting programs at multinational banks, who are now eyeing Asia-Pacific nervously.
Waters Rankings
This year's Waters Rankings have been opened for entries, with all of the information you need through the link. These are different from the Buy-Side Technology and Sell-Side Technology Awards, which are generally amassed through a call-for-entry process and then voted on by a panel of judges. The winners of the Waters Rankings are decided by you, the readers.
We have changed the way in which firms are entered this year, however. If you wish to be considered for the awards, you will have to fill out a form and nominate your company. Once we have all of the nominations in, we will then send out the choices to our readership.
* These things are still being discussed at journalism conferences (like financial conferences, but with worse food) today. Proving that this industry, much like the financial services one, likes a good roundabout discussion.
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