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Exchange Floor
When people think of the stock market this is the picture they have in their heads, thanks to movies and television depicting how the stock market functions. As soon as the market becomes open, people are scrambling and running around shouting, talking on phones, gesturing to each other, watching screens displaying information, and entering data into computers. Here is a rundown of what happens when you trade through the NYSE. You will tell your broker that you want to buy 100 shares of a company’s stock at market. Your broker has an order department. They will send the order to their floor clerk on the exchange. The floor clerk will then alert your broker’s floor stock traders who will find another floor trader who is willing to sell their shares of the company stock you wish to buy. This might sound like a difficult task in a mass of people but it is much easier. This is because the floor stock traders know which floor traders to go to that make markets in specific stocks. The stock traders will agree on a price and complete the sale. As the notification process goes back up the line of people, you will be notified by your broker with the final sale price of stock. This process can take only a few minutes for you to hear back from your broker but it usually depends on the stock market. Notification is sent through the mail and usually received in a couple of days. Stock traders on the NYSE floor work crazily to get the best prices for stocks with the firm they work for. They are working frantically for people like you who want to buy shares from specific securities. Return From Exchange Floor to Historical Stock Prices Advance To Great Depression
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