Review of Related Literature

IMlogic

     Instant messaging is a new technology that makes it easier to communicate with people on-line. Its features are sending files, voice, and text messages and receiving them and sending them is easier than e-mail. With these features, it has attracted a plethora of users and from all corners of the earth.

     Businesses are starting to use instant messaging to further expand their reach. Doctors can prescribe drugs over the internet, brokers can get in contact with their clients immediately, the list goes on with what instant messaging can do for businesses.

     The problem with instant messaging though, is that the messages are not archived and thus the information will be lost. In accordance with Securities and Exchange Commision (SEC) rule 17 CFR 240 and the National Association of Securities Dealers (NASD) order 3010, brokers, dealers and agents are supposed to preserve their messages for auditing and public viewing. Their messages over the internet, in accordance with SEC and NASD, cannot be erased for a period up to six years, the messages has to be serialized and tagged, have flexible indexing and extraction for easy access, and verifiable auditing and supervision that are required for NASD.

     This is where IMlogic2000 come in, in order for the firm to act in accordance with the SEC and NASD rule, they need an efficient software that will do all the those things. Since IMlogic retrieve, parse, filter, store, query, and generate reports on instant messaging traffic, this utility will truly help the firm abide with the rule of SEC and NASD.