Wall Street Source Apps AIM to Cut Time, Costs

The Web-based service, dubbed IM Blast, overlays a user's AOL Instant Messenger without installing software, and diverts AIM's spam filter-designed to prevent users from sending out more than one message at the same time-allowing traders to distribute information to an entire client list, rather than for example, copying and pasting information into multiple emails or separate messages.

"That could save a trader 45 minutes in the morning," when sending out prices or morning calls, says Wall S