Sales Traders Adjust to a Low-Touch World
Traders Magazine, November 2006
In 1985, maybe the best way to gauge the tone of the market was to close your eyes and listen to the buzz of the trading floor. The noise-and the accompanying vibe-would tell a skilled trader if stocks were rallying or skidding, and whether volumes were high or low. It was that easy to get-and keep-your finger on the pulse of the market. "Trading floors were absolute cacophonous zoos," says Tom Rice, managing director in the equities department at Credit Suisse in New York. Flash forward 20 years to today, and it's a bit more of a challenge.
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