How To Get On The Nyse Floor

When the economy is booming seats will sell for more.

How to get on the nyse floor. It was home to traders and brokers who did the actual buying selling and negotiating on the physical exchange. Corpina said the nyse employs floor monitors to enforce the new rules. Dick grasso a former head of nyse once called paywall the stock exchange the greatest show on earth so far the exchange s famous trading floor has mostly held off automation s advance. If he gets overexcited about a market move and steps too close to other people on the floor he gets another tap on the shoulder.

The price of a seat on the new york stock exchange can be as little as 4 000 and as much as 4 000 000. In fact floor traders serve as a small fraction of the people found on the floor of the new york stock exchange each day. Although you can no longer visit the trading floor do not get too disappointed. With the heyday of the human floor trader now ancient.

It is no longer the chaotic scene that s dramatized on tv shows and movies with traders waving slips of paper yelling stock prices and negotiating million dollar deals in a matter of seconds. The new york stock exchange s fabled floor traders fearing steeper job losses in their already diminished ranks are an endangered species. The new york stock exchange nyse is a public company as of 2006 but it used to be private and you could become a member by buying a seat to own a seat meant you could trade on the floor. Noam galai getty images the trading floor.

Before they can trade generally they must pass a screening. The price of seats is set by supply and demand and the price tends to fluctuate with the state of the economy.