From a WSJ report: Years after an electronic-trading onslaught began decimating
their ranks, Wall Street traders are making peace with computers. Pressured by uncertain markets, soft growth
and tough new rules, big banks are finding new ways to boost the profitability
of their large stock-trading businesses—in many cases by feeding trades from
computerized networks to the trading floor.
On a recent day on Barclays stock-trading desk in Manhattan , an electronic
platform posted a notice that Barclays was selling a large block of Pfizer Inc.
PFE +0.56% shares.
In recent years, a computer typically would have swiftly
matched such an order with a buyer, sidestepping trading floors altogether. But soft trading volume has left many traders
unable to move stock as quickly as they might like. That is one reason why
Barclays connected its recently launched DirectEx platform to its trading
floor. The move paid off when a client who was buying 150,000 shares on the
electronic network decided, after chatting with a Barclays salesman, to take an
additional 150,000 shares…..
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