Goldman said to weigh message ban

MIRC Chat

Goldman Sachs is considering imposing a ban on traders using some third-party computer-messaging services, in a move to reduce the risk of proprietary information leaking to others outside of the bank.

The Financial Times reports that the proposed measures include banning bilateral communications via messaging services from companies such as Bloomberg, Yahoo and AOL, said a person familiar with the plans, which have not yet been implemented and could change.

Web-based chat functions have been in the spotlight since investigations into the alleged rigging of benchmark rates – from currencies to interbank rates – have focused on written group chat communications between traders.

Banks including Barclays, Citigroup and Royal Bank of Scotland have banned the use of most group chat rooms as global probes have driven major changes in trading rooms from New York to London.

Hit the link below to access the complete Financial Times article:

Goldman weighs ban on message services (subscriber content)

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