Floor trader

The people who operate as floor traders are in an open outcry system that has slowly been replaced by automated trading systems and computers that work in the same fashion as humans, without the interaction of people buying and selling stocks.

Much experience must be gained about the stock exchange as possible because it is an extremely fast-paced and competitive work environment.

Every floor trader (FT) is required to file a completed online Form 8-R and have a fingerprint card.

[1] The first major electronic alternative was the Instinet, a machine that could bypass the trading floor and handle one another on a personal basis.

The use of electronic mediums to conduct tasks done by floor traders has increased throughout the years, however there are many exchanges in the United States such as the NYSE that prefer to use the open outcry method that involves verbal communication.