Block Trading... After All These Years
Traders Magazine, March 1998
John C. Gleason began his Wall Street career on the sellside, 36 years ago. He traded for now-defunct Laird Bissell & Meeds in Wilmington, Del., then a part of Dean Witter. One of the firm's first block traders, Gleason shopped orders over the telephone, trying to unload large positions.
"When I was on the sellside, a big block of stock was 10,000 shares," Gleason recalled. "Now, desks don't waste their time with orders that small. Volume has skyrocketed."
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