NYSE to use Twitter, Facebook to spread word of end-of-day trading imbalance
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NYSE Will Tap Social Media For Investors To Set Closing Stock Prices

The New York Stock Exchange is looking at social media to attract and contact investors to find buyers and sellers to set closing stock prices.

NYSE to use Twitter, Facebook to spread word of end-of-day trading imbalanceThe exchange is looking at Facebook and Twitter to look for investors when email fails. This move was spurred when the exchange suffered a technical glitch that still sent out email notifications to investors  to a stock with an outside number of unfilled buy orders was delayed by seven minutes.

It is important that the ‘buy’ and ‘sell’ orders at the close remain close since a big mismatch will cause the stock to close higher or lower than its actual trading level. To make sure that this scenario does not occur, members can invoke a rule to extend trading to even out the imbalance.

But because of the glitch, the exchange will use social media to solicit orders to help address the imbalance.

With a lot of global newspapers using social media especially Twitter makes it an excellent aggregator of real time information. Many investors have also started using and adopting the use of social media to get their daily dose of information.

Dave Lutz, Managing Director Stifel Financial Corp: “I’ve been using Twitter for about 18 months at this point. A lot of investors are starting to rely more and more on Twitter as a valid news resource.”

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If the NYSE goes ahead with this digital engagement strategy, we can expect a much bigger interest for social media from all the parties dealing with the NYSE.  

In your opinion, how many more new twitter accounts will be created by the brokers and investors of this world in the next few months?

Do you think this move from the NYSE will become an essential milestone which could prove decisive in driving a broader adoption of social media in our highly regulated financial services and investment industry?  

Join the conversation here or on our Facebook page.

What do you think?

Written by Christophe Langlois

Based in London for almost a decade, Christophe is an entertaining fintech marketing keynote speaker and a trusted advisor to the global financial services industry on the topics of digital marketing, innovation and B2B social media.

Christophe has contributed to over 140 events in 18 countries.

Currently, Christophe is advising a number of fintech startups on marketing and growth hacking and he is the Chief Marketing Officer of The Fintech Power 50, an exclusive annual programme helping fintech scale-ups to accelerate their growth globally.

Christophe's views on VisibleBanking.com are his own.

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