Dealstream Securities traded derivatives on the JSE Securities Exchange, specialising in listed single stock futures and CFDs. Alleged problems with its trade in CFDs led to them running out of liquidity with its clearing memberand they were pulled off the markets a few days ago.
Assuming that the investment/trading community is probably griping about this topic in the Bull Run or bottling it all up is not the case anymore. Social media is mostly cheap and free, and it makes the information that only a few people have (in this instance, that offices were locked up) go viral in a short space of time.
I listened to the guys who set up TroubleAtDealStream on the radio last night. They were angry about their margins losses through the sudden disappearance of Dealstream, so they sent each other SMS messages and got together. Some of them decided to set up the website at the above address. Sure its not a blog or wiki in the true sense, but its a really helpful resource and embodies collaboration and many-to-many publishing. See also Dealstreamfraud
What do we take away from this? The investment community realises that publishing and making their voices heard is easy, too easy if you’re using existing websites or properties. Does your IR deparment have a social media strategy?
Other examples of chatter around Dealstream: