Vincent Chase had his boys in LA. Carrie Bradshaw had her girls in NYC. They traveled in packs because each character offered something unique – whether it was Ari’s neurotic personality or Samantha’s wild rendezvous.
In short, the Entourage wouldn’t have been an entourage without the entire gang. As fictitious as these characters may be, there is something to be said about group dynamics because more often than not, people work in unison with others. Just look around you – how many of your colleagues have you interacted with today, be it by phone, email or IM?
Firms are continually investing in the technology that sits on traders’ desks. Whether it’s new applications aimed at increasing productivity and efficiency or new desktop devices that improve connectivity to their contacts, it’s no secret that firms’ primary focus is on the needs of their traders.
It’s also no secret that a trader does not work alone. In fact, it is estimated that at the world’s largest banks, there is an average of three to five people supporting each trader. This “entourage” may consist of economists, research analysts, compliance officers or a variety of other roles. But they all share one common denominator: assist the trader and guide the trade through its lifecycle as efficiently as possible.
With the dynamic nature of today’s financial markets, there is an ever growing need to connect these “non-traders” directly into the trade lifecycle. While the drivers may vary, the need is constant. For example, regulatory changes like Sarbanes Oxley, MIFID and Dodd-Frank have helped highlight the need for financial institutions to increase transparency across the trade lifecycle. But let’s face it, regulations or not, firms are constantly looking for an edge to differentiate themselves and remain competitive. One way to achieve this is by improving their internal communications infrastructure to enable their teams to communicate better, smarter and faster than ever before.