NYSE... Got Root?

grarpamp grarpamp at gmail.com
Wed Jan 27 22:36:07 PST 2016


http://www.bloomberg.com/news/articles/2016-01-26/high-speed-firms-now-oversee-almost-all-stocks-at-nyse-floor
Barclays, one of the biggest banking and financial services firms in
the world, has sold its business on the floor of the New York Stock
Exchange to Global Trading Systems. This is significant because it
marks a transition between human-based trading and high-speed trading.
Now, humans on the NYSE floor have more of a supervisory role, making
sure the automated systems don't go haywire. Barclays has been around
for hundreds of years; GTS was founded in 2006. "There used to be
dozens of specialist firms, as designated market makers were once
known, at the NYSE floor. But profits from trading U.S. stocks
dwindled, making it difficult to serve as market makers without
automation. Although GTS, Virtu, IMC and KCG employ human traders at
the floor, their businesses are driven by some of the industry's most
sophisticated computer systems."



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