Monday, December 03, 2007

NYSE fights to maintain once crowded trading floor

AFP: NYSE fights to maintain once crowded trading floor:
"The computer age has wiped out the need for human traders in many stock markets around the world, but the New York Stock Exchange is fighting to ensure the survival of its historic trading floor. At 11 Wall Street behind the NYSE's imposing white marble facade, about 1,500 dealers continue to buy and sell shares on the exchange's trading floor. 'That's good for the visibility. It's a symbol,' said Patrick Healy....

"The floor as we knew it is dead," said James Angel, a finance professor at Georgetown University."

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