Markit Launches Encrypted Social Network For Wall Street

Markit is launching a new messaging platform that promises to let Wall Street and banking professionals interact freely without worrying that the information they share will become publicly accessible, according to a report on MarketWatch.

"It could ultimately end up being the LinkedIn Corp (NYSE:LNKD) of the financial industry," said BlueMountain Capital Management strategist Perry Vais.

Bloomberg LP, a competing service, has come under scrutiny for the way it handles peoples’ data, especially after it became known that some journalists were using the service to find information. Most of the time they were just looking up contact details, but in at least a...