floor traders in the pit, floor traders on NASDAQ

chibiks

Member
52 0
I know that in pit trading, there are floor traders. I might be wrong but floor traders are usually those who have and execute retail orders of you and me.

My question is, are there floor traders on these two exchanges: NASDAQ and NYSE? Or some sort of "electronic floor traders" (which may be algorithms?).
 

Rhody Trader

Senior member
2,620 266
There are still some floor traders at the NYSE. The NASDAQ was never a central location. It began as an over-the-counter network of dealers who traded by phone.
 

thunderstruck

Junior member
36 0
there are also pit traders at the Chigago commodities marbets CBOT and CME .

Really can understand the point of still having pit traders .Does this serve a practical purpose or its just tradition??
 

Depth Trade

Experienced member
1,848 98
there are also pit traders at the Chigago commodities marbets CBOT and CME .

Really can understand the point of still having pit traders .Does this serve a practical purpose or its just tradition??
It's more fun than being by yourself or just a few other people sitting across the room from each other in an office.
One can still trade via computer, but send an order into the pit if different prices are trading. You can still trade if the power goes out and you have two people that agree on a price.
 
 
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