Humans Resist Automation at NYSEBy Baselinemag | Posted 2005-03-22 Email Print
The exchange wants to automate its trading systems. But many clients prefer dealing with human specialists. CEO John Thain has to accomodate humans while automating all he can, or risk losing precious ground to other exchanges.
The New York Stock Exchange has to automate its trading systems and slash the time it takes to execute a trade, or risk losing business to electronic exchanges. But much of its strength, and the loyalty of its customers, comes from the knowledge and service of the human traders that work there.
Add to that the still-simmering scandal over a recently departed chairman, the low spirits of the board, questionable loyalty of customers and plummeting price of a seat on the Exchange, and you have a pretty challenging job description for newish CEO John Thain.
Click below to read more about Thain's dilema and the tactics he and the NYSE are using to resolve it. Turn off your popup blocker, please.<p