Technology vendors are bringing down the barriers between instant messaging (IM) networks, making it easier for traders to send messages to counterparties on other platforms. But such interoperability also brings security risks, opening the door for viruses and other malware, as well as social engineering attacks.
Of the types of IM platforms available to Wall Street firms, the least secure and most popular are the public networks such as AOL Instant Messenger, Yahoo Messenger and Microsoft Corp.'s MSN. Enterprise IM systems--IBM Corp.
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