Tech companies to monitor traders emotions
When we first interviewed Professor Mark Fenton O'Creevy from the Open University (pictured below third right talking to Heather Fearfield, Joe Rundle of ETX Capital and Dafydd Rees of Sky News - now at Bloomberg TV)
about how to manage emotions if you are a trader, he gave sensible and practical advice that many trading on the stock markets have benefited from. Please view him talking on our panel on our 'What we do' page.
But now Bloomberg has reported that companies including JPMorgan Chase and Bank of America have asked advice from tech businesses about how to monitor employees emotions to 'boost performance and compliance'
MIT finance professor, Andrew Lo, Bloomberg reports, has run workshops in investment banks, using wristwatch sensors that measure pulse and perspiration, warning traders to step away from their desks when their emotions start to run wild.
Lo says that one of the most promising applications but one that admittedly has the most privacy issues, is keeping tabs on employees. He describes how risk managers could spot problems brewing on a specific desk, such as unauthorised trading, before too much damage is done.