The NYSE

[kid hustlr]

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?

 

[CanOz]

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?

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

 

[McLovin]

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.

 

[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.

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

 

[CanOz]

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

 

[McLovin]

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

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

 

[CanOz]

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

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

Thanks McLovin!

CanOz