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, when the dealing room started out, only a phone and a teleprinter was found there as that was the only tools a broker used. The teleprinter gave the price quotes as well as printed them out on a special piece of paper. The teleprinter would print out the highs, lows, and last price of the investment.
Of course, eventually the 1900s showed the advance of higher technology wherein the usual teleprinter was replaced by what was known as a tele register. That was what happened when the New York Stock Exchange boomed and the volume of trades for various securities went up. Of course, this meant that more phones were contained in the room and so were electronic calculators.
In the eighties, spreadsheets became more widely used for easier handling of data. This was back when Windows became very popular in a lot of financial offices. Microsoft Excel, in particular, was a very popular tool used by traders in the dealing room as these areas quickly became filled with computers instead of tele registers.
With that, the dealing floors were eventually replaced with computers that had all the necessary software. With that said, dealing floors no longer became rooms where people shouted the prices of financial quotes and such but rather a room where trades were done electronically. Also, the computers had all the necessary information for trades.
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, when the dealing room started out, only a phone and a teleprinter was found there as that was the only tools a broker used. The teleprinter gave the price quotes as well as printed them out on a special piece of paper. The teleprinter would print out the highs, lows, and last price of the investment.
Of course, eventually the 1900s showed the advance of higher technology wherein the usual teleprinter was replaced by what was known as a tele register. That was what happened when the New York Stock Exchange boomed and the volume of trades for various securities went up. Of course, this meant that more phones were contained in the room and so were electronic calculators.
In the eighties, spreadsheets became more widely used for easier handling of data. This was back when Windows became very popular in a lot of financial offices. Microsoft Excel, in particular, was a very popular tool used by traders in the dealing room as these areas quickly became filled with computers instead of tele registers.
With that, the dealing floors were eventually replaced with computers that had all the necessary software. With that said, dealing floors no longer became rooms where people shouted the prices of financial quotes and such but rather a room where trades were done electronically. Also, the computers had all the necessary information for trades.
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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