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Group Chat Evolving Into E-Mail 2.0: Page 2 of 8

Consider chat's demonstrated utility in the crucible of the armed forces, where group chat sessions are replacing more traditional radio communications among naval battle groups. "You can coordinate who is going where and monitor your tactical situation," said Peter Saint-Andre, the executive director of the Jabber Software Foundation and supplier of the software to the military for that purpose.

Wall Street has led the way in the implementation of the technology because it offers traders a big, immediate payoff. "It's hard to be on the phone with 30 different guys at the same time," said Brian Trudeau, the CIO of Amerex, an energy-trading firm in Sugar Land, Texas. "Being a brokerage house, you want to be in contact with as many of your customers as you can and all at once."

"Chat is perfect, especially for busy people in the financial services industry who don't have the time to put together a telephone conference call," said Melanie Gordon, communications manager for Reuters' Collaboration Services in New York City. Reuter's sells its own chat services software.

Traders are attracted to chat because they can create different rooms or chat channels for each market, and can conduct virtual meetings throughout the day without having to take time to be away from their desks. They also can work on more things concurrently and make better decisions, too. "Investment banks will have one chat room per trading desk, and everyone will be in there watching that particular market," said Saint-Andre. "Traders don't need their multiline phones anymore, since they can be in 30 or 100 different rooms, tracking different markets."

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