Chapter 04 · Section 4.1

Various Floor Trading Systems

1. 1Prices→
2. 2Trading Floor Status→
3. 3Traders Rules→
4. 4Public Orders→
5. 5Specialist vs. Order Book Official→
6. 6Specialist→
7. 7Dealer vs. Broker→
8. 8Market Maker vs. Specialist-1→
9. 9Market Maker vs. Specialist-1→
10. 10Competing Market Maker System→

Not all trading floors are organized the same way: On some exchanges, the roles participants may assume are narrowly defined, while on other exchanges participants can change their function at will. Knowing different kinds of trading procedures helps to see the trading system used in one specific exchange in the right perspective.