Article: NYSE Joins 21st Century,
Letting Traders Use Their Phones
Connecting Digitally
NYSE Embraces the Digital Age
Phones are
one of the most popular and common things in the world. People care more about
connecting with their peers than they do about having a clean toilet.
“Surprisingly, the UN reports there are now
more people with mobile phones (6 billion for
world population of seven billion) on earth than there are with access to clean
toilets (4.5 billion). That phenomenon
is easily visible in Indonesia, for example, where it is common to see people who live in
metal roofed shacks without bathrooms surfing Facebook
on their smartphones or feature
phones. And it shows how, in the
developing world, multinationals
are often better at responding to peoples’ needs than governments are.”
Is This Important? -- Not Really, But It's Interesting
Phones are
important. We’re on our phones constantly. I’m a bit surprised that the NYSE didn’t
adapt sooner. Our society is moving
deeper and deeper into a digital society.
“Communications
with customers is a vital part of a floor broker’s role,” NYSE said in the filing. “Brokers who do not have
exchange authorized and provided portable phones should be permitted to use personal cell phone devices, in lieu
of the non-operational wired phone
lines.”
Surfing On Phones
We cannot
deny the popularity of phones. The only answer for the NYSE is to adapt. As new
technologies become available, privacy and security is usually an issue. But in
the long run this will make the traders more efficient and effective.
Drowning Under Phones
Safety & Security is important and
the IT department will have to increase security. With the use of personal
phones, the people on the floor can do a lot of damage – like take a still photo
or video or an audio record of something that’s not supposed to be leaked to the
public.
Sources:
SIDE NOTE
IBM is a great company and I think they have a great future. I don't expect them to pop in the near future, but in 20, 30, and 50 years from now, they'll likely explode. And if you think you can pop into IBM for a quick profit -- just get out. IBM is a tanker. It takes a tanker 72 hours to make a 360 degree turn.
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