-
NYSE floor traders are facing job extinction
The New York Stock Exchange’s fabled floor traders, fearing steeper job losses in their already diminished ranks, are an endangered species. With the heyday of the human floor trader now ancient history, many observers say the bell now tolls for the few traders remaining. On a typical day, some 250 floor traders mill about — a far cry from the thousands who once traded securities on the venerable floor. And those who are left claim they are plagued by the heavy hand of regulatory compliance and by competition from advanced technology and high-frequency trading. At the center of the latest storm, say traders, is ... (full story)