Demystifying the Economy | Scholarships: electronic or in person?

Every Saturday, one of our journalists answers one of your questions about the economy, finance, markets, etc. in a group of experts.

Posted yesterday at 7:00am

Martin Vallieres

Martin Vallieres
The press

The stock exchange has regular opening hours (9:30 a.m. to 4:00 p.m. on working days) and extended opening hours before and after trading hours. We understand that it works electronically. So what do brokers do on the trading floor?

Nicholas Clift

Most of the world’s major stock markets are operated entirely by electronic and computerized means.

But there are markets like the New York Stock Exchange that maintain a trading floor despite the ubiquity of transaction technology.

Besides, it’s still such prosecutors with their traders scurrying around electronic screens where media cameras are trained to illustrate their stock market news.

But in reality, the New York Stock Exchange is one of the few major exchanges in the world where a significant portion of trading is still conducted on a trading floor.

It is also the only one in North America to operate in this manner since the closing of the trading floor of the Chicago Mercantile Exchange last year, which specializes in futures contracts on commodities and energy, basis and financial indicators.


On a trading floor like the New York Stock Exchange, stock prices are determined by auctions between specialized dealers and licensed brokers.

Buy or sell orders from investors are routed by brokers to their delegates on the trading floor. These delegates then go to a specific location on the trading floor where the shares in question are traded.

This place is actually a trading post where there are a few people who are referred to as “specialists” for a certain number of actions. Her job is to match the buyers and sellers of the stocks under her supervision.

Current prices for these shares are determined by bidding between the highest total amount that a buyer is willing to pay and the lowest price at which a seller is willing to sell their shares.

Hundreds of millions of stocks and stock options valued at $100 billion trade daily on the New York Stock Exchange, which remains one of the most influential markets in the world.1.

Electronic Exchange

On fully electronic stock exchanges such as the Toronto Stock Exchange and the NASDAQ in New York, trading occurs over a network of computers and telecommunications connecting accredited brokers.

Unlike stock exchanges, stock prices are based on the bid and ask prices of the most recently recorded trades.

These prices are also set by brokers known as “market makers” or ” market leader in stock market jargon in relation to the stocks in their fold.

In the case of the NASDAQ in particular, its “all electronic” nature and specialization in technology companies has fueled its growth to the point of challenging the historic dominance of the New York Stock Exchange among investors.

Hundreds of millions of stocks and stock options valued at $90 billion trade daily on NASDAQ.2.

1st and 2nd figures come from the American company CBOE Global Markets, which specializes in financial market management systems.

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