|
|
The shrinking trading floor
|
AT-November 2008-2
|
|
The trading pits have nearly disappeared over the past two years. However, some floor traders have survived the rout by embracing technology.
|
Detailed Description
If youve watched CNBCs Bob Pisani reporting from the floor of the New York Stock Exchange (NYSE) recently, youve probably noticed he has a lot more elbow room than in years past. In 2006, the NYSE had 3,000 traders and support staff on its floor, a number that had dwindled to just 1,500 by August 2008. Floor traders now account for just six percent of NYSEs volume; the majority of the exchanges trades are executed electronically.
The shift from trading floor to screen isnt unique to the NYSE, and it is hardly a new phenomenon. Only a handful of trading floors still survive today, as electronic trading has come to dominate stock, futures, option, and currency trading worldwide.
The shift has, however, intensified in the past couple of years.
|
|
|