What do people working at the NYSE actually do?

[Spungo]

The NYSE was a place where people would take orders to trade stocks. It's like an auction house or a flee market; someone had to physically be there. Today, all stock trading is done through computers, so wtf are the people on the floor actually doing? The NASDAQ doesn't even have a trading floor.

 

[blackdogdeek]

Looks like there are still about 700 floor traders compared to the 5000 from the pre-electronic trading days.

http://finance.fortune.cnn.com/2013/05/29/a-day-in-the-quiet-life-of-a-nyse-floor-trader/

 

[Scarpozzi]

This time of year they're trying to corner the Frozen Concentrated Orange Juice market.

 

[Slew Foot]

take money from you, put it in their pocket

 

[blackdogdeek]

This time of year they're trying to corner the Frozen Concentrated Orange Juice market.

MERRY NEW YEAR!



caps

 

[PlanetJosh]

They're in some way connected with "analog" trading meaning people who place trades over the phone by speaking to a broker? So if those remaining old school people stopped phoning in and went with their PCs to trade then those 700 real people on the floor would almost disappear?

I'm just throwing that out there, it probably has no basis is fact because brokers talking to you enter it their PCs anyway right? And the results of the trade can come back in a few seconds. I know because I actually traded over the phone in Google stock this year by talking to a guy, not using the automated phone trading. So I'm shooting down by theory above I guess. Just wondering if it has anything to do with phone orders. And there I go again with that theory. I'll just knock it off. Edit - and Google's in Nasdaq anyway.

 

[Aharami]

This time of year they're trying to corner the Frozen Concentrated Orange Juice market.

:thumbsup:

 

[gamefreakgcb]

:thumbsup:

Movie reference?

 

[chitwood]

merry new year!



Caps

beef jerky time

 

[JManInPhoenix]

Movie reference?

http://www.imdb.com/title/tt0086465/?ref_=fn_al_tt_1

 

[halik]

The NYSE was a place where people would take orders to trade stocks. It's like an auction house or a flee market; someone had to physically be there. Today, all stock trading is done through computers, so wtf are the people on the floor actually doing? The NASDAQ doesn't even have a trading floor.

I think their floor still gets like 20% of the volume? Block trades mostly I would imagine.

 

[NFS4]

This time of year they're trying to corner the Frozen Concentrated Orange Juice market.

 

[PliotronX]

Anxiously await the government's every move

 

[gamefreakgcb]

http://www.imdb.com/title/tt0086465/?ref_=fn_al_tt_1

Thanks for jogging my memory.

 

[clamum]

"Investments. Consulting, business, analyzing stocks, NASDAQ, Dow Jones, Wall Street Journal, New York City, CNN."

 

[JulesMaximus]

Sal the stockbroker... enough said.

Leeches.