Reminicence of a Stock Operator

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Reminiscence of a Stock Operator
The more things change the more they stay the same and we are not better off now than in 1900s. Back then one could not stay away from where their stock exchange for the quotation had to be telegraphed. Membership back then was of great value, for example when the NYSE started using electronics and was publicized in 2006, the exchange was for members only. One had to join the NYSE only by buying seats that already existed and the seats were limited.
The stock market groups have merged together and came up with new ideas that have improved the market. The NYSE merged with public traded archipelago electronic stock exchange and they came up with the name NYSE Group, Incorporation. This was in 2008. Back in the day, there were a lot of bucket shops that are better known to be unethical or aggressive brokerage firms and they operated in streets but were now replaced by these merged brokerage firms.
The stock market has been an increase in the trading volume and thus there has been need for them to expand. The stock exchange agencies have improved forthwith as they have been forced to restructure their buildings to cater for the rising number of clients and markets and these large numbers of market has always been there, for example, trading went three times high between the year 1869 and 1899 and it had doubled by the year 1901.
The stock brokerage agencies have gone electronic, selling massively their equity securities, with the speed and effectiveness the stock exchange has had a great impact as it has made the market direct and has brought easy market access. This has encouraged important transparency and much speed unlike the nineties, the market has been enhanced by automated auctions and as a result, exchange products have been made available easily.
The big brokerage companies have been able to post-merger as in they have been able to premier market for trading of micro companies. They have been able to list these small companies and have created rules according to the size and business demands of those small firms and in the process ensuring the investors foil. In the 1900s, the investors were not so transparent and the rules created favored them more.
Over the counter stocks were available during the 1900s in the bucket shops and they were not so transparent but they have been improved as time passes. The OTC stocks have been made to have good price selling based on liquidity, transparency, speed and anonymity. They have been made consistent and reliable unlike back in the day where they were not so reliable, for example, one could not trade several times and still be allowed to trade; others were sent away and told not to go that bucket shops, a person could not rely on those bucket shops.
There have been bonds that have been trading for example the NYSE Bonds which runs electronically and gives a transparent way of trading them. This is brought from price and time priority.
The bell is one of the known features of the stock exchange nowadays and even in the earlier periods of stock exchange history. The bells were brought into play when continuous trading came to action in the 1970s. There is the opening bell th...