If one has watched movies like The Wolf of Wall Street, then he or she might be familiar with those areas wherein people are shouting stock prices. Well, these areas are known as trading rooms and they are places in which stock or other transactions would take place. If one has always been fascinated by Wall Street, then here are a few facts to know about these places.
As mentioned above, this is where the deals are taking place so it is really where all the action in Wall Street is. Just to give a brief background, these areas started popping out back in the late sixties to early seventies when each type of investment had their own department in banks and asset management companies. Banks found it much easier to lump them all in one place where they could be monitored, thus the dealing room was born.
Now, one interesting thing to note about the dealing room is that it was not always as high tech as it is today. In fact, the only tools that the traders had at their arsenal were a simple teleprinter and a phone. The teleprinter was used to print out the price quotes of the security with information such as last price, highest price and lowest price.
Sometime during the mid 1900s, things became more advanced with a tele register which helped brokers read the securities on the New York Stock Exchange. Eventually, phones started filling up the areas because traders had to speak with various brokers to make trades from various brokers at the same time. At the same time, he or she also had a calculator to make computations.
Eventually, the eighties saw a more advanced technology come into the picture known as spreadsheets. This eventually came out along with the Windows OS. Microsoft Excel became the popular choice for traders because it had special formulas to make computations and an organized structure.
Eventually, the digital revolution came in and video displays eventually filled the computers of traders. Of course, this lead to the classic room where people shout the price quotes slowly changing to simple, quiet computers where trades could be made digitally. Also, information could also be found through the internet to make trades more precise.
Today, there are special graphs with indicators that can be used for overall technical analysis for trades. Back before the software were invented, fundamental analysis was used more often since graphs could not be updated quickly and real time. However, the real time updating of the graphs enabled the traders to have more precise trades for their clients.
Now, the thing about dealing floors is that they are always associated with Wall Street simply because that is where all of the cool stuff happens. No matter what the dealing room contains, it will always be where the traders will make the money and close the trades. For those who have watched movies like Wall Street or the Big Short and have enjoyed them thoroughly, learn more about where the Wall Street traders play by knowing more about trading floors.
As mentioned above, this is where the deals are taking place so it is really where all the action in Wall Street is. Just to give a brief background, these areas started popping out back in the late sixties to early seventies when each type of investment had their own department in banks and asset management companies. Banks found it much easier to lump them all in one place where they could be monitored, thus the dealing room was born.
Now, one interesting thing to note about the dealing room is that it was not always as high tech as it is today. In fact, the only tools that the traders had at their arsenal were a simple teleprinter and a phone. The teleprinter was used to print out the price quotes of the security with information such as last price, highest price and lowest price.
Sometime during the mid 1900s, things became more advanced with a tele register which helped brokers read the securities on the New York Stock Exchange. Eventually, phones started filling up the areas because traders had to speak with various brokers to make trades from various brokers at the same time. At the same time, he or she also had a calculator to make computations.
Eventually, the eighties saw a more advanced technology come into the picture known as spreadsheets. This eventually came out along with the Windows OS. Microsoft Excel became the popular choice for traders because it had special formulas to make computations and an organized structure.
Eventually, the digital revolution came in and video displays eventually filled the computers of traders. Of course, this lead to the classic room where people shout the price quotes slowly changing to simple, quiet computers where trades could be made digitally. Also, information could also be found through the internet to make trades more precise.
Today, there are special graphs with indicators that can be used for overall technical analysis for trades. Back before the software were invented, fundamental analysis was used more often since graphs could not be updated quickly and real time. However, the real time updating of the graphs enabled the traders to have more precise trades for their clients.
Now, the thing about dealing floors is that they are always associated with Wall Street simply because that is where all of the cool stuff happens. No matter what the dealing room contains, it will always be where the traders will make the money and close the trades. For those who have watched movies like Wall Street or the Big Short and have enjoyed them thoroughly, learn more about where the Wall Street traders play by knowing more about trading floors.
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