Free Site Registration

Can trading professionals justify their existence in a do-it-yourself technologi

Traders Magazine, December 1999

Sanford Wexler

Only an experienced market maker who is willing to risk his firm's capital can stabilize a tumultuous marketplace, say some institutional stock traders. As technological advances raise questions about the future, there is no doubt in the mind of some traders that their talent and skill can still outsmart the best alternative trading systems.

"If [a customer] has a million shares to buy or sell, you are still looking for price discovery. You can't trade them over a computer," said David Shields, a floor broker at the New York Stock Exchange. "You're going to leave an awful big footprint if you try to do these things that way."

Get access to this article and thousands more...

All articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, online technology directory, the iPad App, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our e-newsletters covering the latest breaking news, opinions from industry leaders, developing trends and trading strategies.

Already Registered?