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Block Trading... After All These Years

Traders Magazine, March 1998

Michael L. O'Reilly

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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