What technology allows traders to communicate instantly?

Instant messaging or chat technology is especially designed for real-time communication, which is essential in trading environments where quick decision-making and execution can greatly affect outcomes. This form of communication allows traders to send and receive messages instantly, which facilitates rapid sharing of information, market updates, and strategies among team members or with clients.

Unlike email, which can introduce delays due to the time it takes to compose, send, and read messages, instant messaging streamlines the process, making it more efficient for the fast-paced nature of trading. Social media platforms, while capable of enabling communication, are not primarily designed for professional and secure instant exchanges of information that are crucial in trading scenarios. Video conferencing, although useful for discussions, does not support the same level of quick text-based exchanges that instant messaging does, making it less suitable for the immediate communication needs of traders.