16
Nov

A special day at the NYSE, where technology has really made its mark

Posted by: TedLane in: Financial Services -

As part of LANE PR’s increased focus on investor relations offerings, I have been attending classes at New York University, which provides access to industry experts with a wealth of IR knowledge and experience.

On Nov. 11, I had the opportunity to tour the New York Stock Exchange during the opening bell.  As it was Veterans Day, the Marines, who had just celebrated their 236th birthday, were being honored and rang the opening bell.

Along with other members from the NYU program, I explored the enormous rooms of the Exchange, talking to traders, watching active trades, and bumping into media moving around the floor.

Our guide informed us that with the advancement of technology, the total number of ‘designated market makers’ on the floor has dropped from 3,000 to 1,000.  He was quick to add, however, that even with technological innovation, there will always be a need to have a human designated market maker to control the stock and implement regulation.

It was a very insightful tour and it was an amazing feeling to be at the center of the financial world for a day.

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