It already had an electronic platform called Automated Pit Trading APT , which was used in after-hours trading when the trading pit was closed. A project to record the hand signal language of the trading pit is being compiled.
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Trading of oil and natural gas options and futures. Chapter 10 of the book "The Economist: Wall Street" is presented. It discusses how futures and option exchanges were formed by farmers, merchants, prospectors and businessmen by trading every possible type of product to serve as an honest and structured forum for the purchase and sale of goods Analyzes the organization and efficiency of the Dojima Rice Exchange, the world's first organized futures exchange in Osaka, Japan.
It refers to an exchange in Europe for soft commodities, such as cocoa, rubber, and sugar. Read the Article Courtesy of your local library Enter a library name or part of a name, city, state, or province.
LIFFE intended that this flexibility would encourage traders around the world to link to the exchange. In September that year the exchange announced that it had received a number of expressions of interest in buying the business.
Together with the derivative arms of the continental European exchanges it became Euronext. Some analysts say that LIFFE had to give up its independence because it had failed to embrace technology early enough. LIFFE accredited traders, particularly those engaged in the open outcry trading pits, could and did earn high salaries at the price of a demanding and stressful job. Floor support personnel Runners, Midoffice and exchange staff , in contrast, usually earned a lot less. LIFFE floor staff were easily identified by their distinctive and brightly coloured blazers yellow jackets for Runners and badges with three-letter IDs called 'Mnemonics'.
The exchange floor was an extremely noisy place with Phone Brokers and Pit Traders shouting instructions to each other and Exchange Officials overseeing their conduct and confirming trades. Exchange members Banks and Brokers would pay a premium to have a booth position close to the trading pits to enable slightly easier communication with their pit traders. However the most common form of communication was via hand signals, not too dissimilar to tic-tac that a bookmaker would use at a racecourse.
Contract prices were signalled with the hand held away from the body with the palm of the hand facing away meaning to sell and the palm of the hand facing towards oneself meaning to buy. Contract quantities were communicated with the hand touching the body with individual units displayed on the chin, tens of units on the forehead, hundreds and thousands of units on the forearm again with the hand facing away meaning to sell and towards oneself to buy.
A project to record the hand signal language of the trading pit is being compiled. LIFFE pit traders and locals Traders trading on their own account, betting their own funds in particular enjoyed a reputation of a lavish lifestyle — pubs and wine houses along Cannon Street were filled with LIFFE personnel at all times of the day and night.
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