That doesn't matter, it is what he read on-line that is reality!

 

Arent trading floors dead due to the spread of globex and the lack of advantage of floor trading?

 

Why are people ignoring this?

 

I mean back in the 80s floor traders had a huge edge, they would get at least a tick, by the end of the 90s it was a half tick edge. Thats a huge difference and saying something about 2006 is after the floors already were pretty dead.

It's also data from the St.Louis fed, but i guess some old anecdotes are more valuable.

 

Its very likely there are more traders today than there were in the past. You now have a firm who purchases 1 seat and has 50 people trading on globex accounts.

 

Compare that to the 70s/80s when you basically had 1 person 1 seat, a few people renting and maybe 1 or 2 sharing. Which is why the floor was so packed, because that was the only way to trade.

 

Now half the people dont even go there because the edge is so small, I always thought working the computer alone was easier because taking broker trades always seemingly was the wrong side.

Arent trading floors dead due to the spread of globex and the lack of advantage of floor trading?

 

Why are people ignoring this?

 

I mean back in the 80s floor traders had a huge edge, they would get at least a tick, by the end of the 90s it was a half tick edge. Thats a huge difference and saying something about 2006 is after the floors already were pretty dead.

A huge bulk of the trading volume are algorithms running on computers for fractional price changes in microseconds.

http://www.nytimes.com/2012/05/19/opinion/...tml?_r=1&hp

 

 

http://www.nytimes.com/2012/05/19/opinion/...tml?_r=1&hp

 

 

Exactly. I'm sure young Ricketts isn't happy to see that, not that he has any say with Pops.

Tommy Boy does NOT own the Cubs. JOE Ricketts(the old man trying to "take down" obama) does.....