The chat rooms have really interesting features, like pinning and rich-embedding equity information that updates in real time. Also, you can "ring" the room with a bell, which was immensely entertaining as an intern.
Ringing the bell is grounds for expulsion from many chat rooms, at least the semi-anonymous chat rooms provided by Bloomberg and other sell sides shops. Apparently it is very annoying to certain people.
If you give a quote as a trader you typically give the other participant some time to answer you.
If the price moves against you since you last quoted, you typically say something like "off" and ring the bell so that the other guy knows that price is not good anymore. Fairly relevant when you're talking to a salesguy who is not looking at the chat, cause he's talking with his trader
Good question. I think of it as being equivalent to marking an email “high priority”. In my experience brokers would sometimes use it to call attention to a time-sensitive issue, eg confirming details for a trade settling today. Always thought it was annoying and if they had something really urgent they should just pick up the phone, but that’s just me.
