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Floor Brokers Look for Lifeboats

Traders Magazine, October 2006

Gregory Bresiger

With the New York Stock Exchange in the midst of a transformation to a hybrid manual-electronic marketplace, the spotlight is on the vulnerable independent floor broker. The typically small independent floor brokerage makes its living servicing both the buyside and the sellside from its special vantage point: the specialist's post. But with more trading moving into the electronic sphere, a stake in that piece of real estate will become less valuable. Some independent floor brokers have moved upstairs. Others are mulling the possibility.

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