When the New York Board of Trade voted last month to close most of its trading floor, it not only lost a 137-year-old financial institution with the drama of loud, open-outcry trading and its mysterious hand-signals.The decision, which followed the Nybot’s purchase last year by the all-electronic InterContinental Exchange, also spelt the end for a piece of Americana that provided the backdrop for the 1983 Eddie Murphy film Trading Places.The development shows how as trading in equities and derivatives moves increasingly to electronic platforms, exchanges in the US and around the world are moving to close down trading floors rich with history and culture.
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Posted by krishna Raj 