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The Basement
Germans buying NYSE?
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<blockquote data-quote="TJ Cornish" data-source="post: 18978" data-attributes="member: 162"><p>Re: Germans buying NYSE?</p><p></p><p>I work for a financial company working in the US equity market. As time has passed, the exchanges have done less and less of the global trading business. There are no rules saying every share has to go through an official exchange - I can buy and sell shares from anyone I can find. We do much of our trading through alternative systems - "dark pools" of buyers and sellers that aren't necessarily listing their shares on an exchange. The commissions are less, and the prices don't necessarily track the official ask price. This is the magic of the internet - I can shop for the best price of a company I want to buy. Maybe it is through the official exchange, maybe it is on a "Craigslist" or "Ebay" type system. </p><p></p><p>As Ned said, a bunch of guys running around on the floor yelling at each other is a little passe.</p></blockquote><p></p>
[QUOTE="TJ Cornish, post: 18978, member: 162"] Re: Germans buying NYSE? I work for a financial company working in the US equity market. As time has passed, the exchanges have done less and less of the global trading business. There are no rules saying every share has to go through an official exchange - I can buy and sell shares from anyone I can find. We do much of our trading through alternative systems - "dark pools" of buyers and sellers that aren't necessarily listing their shares on an exchange. The commissions are less, and the prices don't necessarily track the official ask price. This is the magic of the internet - I can shop for the best price of a company I want to buy. Maybe it is through the official exchange, maybe it is on a "Craigslist" or "Ebay" type system. As Ned said, a bunch of guys running around on the floor yelling at each other is a little passe. [/QUOTE]
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