E-brokerages embrace social networking

The MySpace phenomena hasn't gone unnoticed in the discount brokerage industry. Increasingly, brokerages are embracing social networking, convinced it will lead to more trade volume. According to Business Week Online, the new services allow customers to do the standards, publish their profiles, make investment strategies and even blog--makes sense from a business perspective. However, there are some regulatory issues to worry about. Fraudsters might see these services as a great way to find prey. And then there is the data retention aspects. Recording every chat and blog may be tough. All in all, the trend seems clear.  

For more:
- here's the Business Week Online article 

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