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Floor Brokerages Remake Themselves

Downstairs upstairs at the NYSE

Traders Magazine, August 2008

Nina Mehta

Brokerage firms that once made their living solely on the floor of the New York Stock Exchange-downstairs-are few and far between these days. The surviving firms that have outlasted the industry's move to electronic trading did so by reinventing themselves. Some moved a good portion of their operations off the floor-to upstairs desks. Others have tried to broaden their trading niche more gradually as they expanded into new services for customers.

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