The Power of Names

In Cratylus, one of Plato's dialogues that relates the work and philosophical musings of Socrates, the Greek philosopher considers the nature of names. Essentially, the argument boils down to whether words are simply placeholders to signify something, arbitrary and functional, or whether names have a more interwoven connectivity to what they represent. Socrates doesn't take a stance either way (aside from rejecting linguistics as inferior to more practical studies).

The idea of names having power is something that's deeply woven into philosophy, religion and culture throughout human history. In mystic Judaism, the true name of God is integral to the entire thought system of Kabbalism. In Rumpelstiltskin, the imp is defeated through the use of his true name. Indeed, in the modern-day equivalent of fairy tales, a major plotline in the British television series Doctor Who is the revelation of The Doctor's real name.

Names are important, essentially, and their interchangeable nature can often be misleading. Take the idea, in financial technology, of ‘disruptive technology'. It's loved by marketing folks, who see it as a buzz word, but it's regarded with distaste by many others. I've had more than one person turn around to me when I've asked their opinion on it who has wrinkled their nose, sighed, and said they don't like the phrase.

Emerging
After all, disruptive implies just that ─ an interruption in regular service. Proponents will spin it as saying that disruptive simply means a change in the status quo, and one for the better, thank you very much. Critics, or those hesitant to adopt the moniker, say quite the opposite. I met with the CEO of a relatively new firm recently who, despite winning an award for disruptive technology, was quick to stress that it didn't break the market and that he didn't consider it ‘disruptive', per se.

We're not particularly great fans of the term here at Sell-Side Technology either, which is why you'll see a lot of coverage this week on ‘emerging' technologies ─ those that are just starting to come into their own, and present challenges for senior-level tech executives. Our special report covers implementation issues, assessing practicability, and a host of other useful information, garnered from the leading people in this field. Along with that, of course, is our usual coverage of the week's events, such as BT consolidating its voice offerings, a webcast on over-the-counter derivatives reform, a new CEO for Instinet and Cinnober's new cross-asset client clearing platform.

Over at Buy-Side Technology this week, sell-side readers may be interested to catch up on the London Stock Exchange Group's purchase of Bonds.com through MTS.