Algorithmic Trading On The Trading Floor
In a sign of just how far the machines have risen on Wall Street, floor brokers on the New York Stock Exchange have started trading with algorithms.
When NYSE Euronext Inc.’s partner, trading-technology firm Pragma Financial Systems, started up about six years ago, algos were the exclusive preserve of quant traders (ok, computer geeks), according to Pragma President David Mechner. Now, they’re everywhere.