# The NYSE



## kid hustlr (12 November 2012)

I've been watching wall street warriors on you tube and this question has been bugging me.

Why does the US still have a major trading floor with guys waving their arms in the air and all the excitement etc? 

From what I gather the ASX does everything electronically? why is the US different?

Do all trades go through the floor? like how does it work for retail clients? I assume there isn't a broker/specialist on the floor for every retail provider?


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## CanOz (12 November 2012)

kid hustlr said:


> I've been watching wall street warriors on you tube and this question has been bugging me.
> 
> Why does the US still have a major trading floor with guys waving their arms in the air and all the excitement etc?
> 
> ...




Only Chicago has a live pit for the Spoos (S&P 500 equity index futures ). All equity trading is electronic in NY. When they show the pit they are probably showing the S&P pit in Chicago (CME).

Unless i'm missing something.

CanOz


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## McLovin (12 November 2012)

CanOz said:


> Only Chicago has a live pit for the Spoos (S&P 500 equity index futures ). All equity trading is electronic in NY. When they show the pit they are probably showing the S&P pit in Chicago (CME).
> 
> Unless i'm missing something.
> 
> CanOz




C'mon Can, I have to believe you know that's not true!

The NYSE absolutley still trades open outcry on the floor. I believe it uses some sort of hybrid system that allows an order to go electronic or to the floor. Don't know the exact mechanics of it though.


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## CanOz (12 November 2012)

McLovin said:


> C'mon Can, I have to believe you know that's not true!
> 
> The NYSE absolutley still trades open outcry on the floor. I believe it uses some sort of hybrid system that allows an order to go electronic or to the floor. Don't know the exact mechanics of it though.




Well i know they used to go from the electronic order to a real market maker that would match the bids and offers but i thought that was finished...Sorry folks no idea...

CanOz


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## CanOz (12 November 2012)

Wiki doesn't mention the NYSE, just the NY merc....


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## McLovin (12 November 2012)

CanOz said:


> Wiki doesn't mention the NYSE, just the NY merc....




http://en.wikipedia.org/wiki/Floor_trading


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## CanOz (12 November 2012)

McLovin said:


> http://en.wikipedia.org/wiki/Floor_trading




Ahh K...well there ya go. Ya learn something new (or old) every day!

Thanks McLovin!

CanOz


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