Open Outcry trading

Discussion in 'Brokers & Trading Platforms' started by megapixel, Mar 24, 2013.

  1. megapixel

    megapixel Well-Known Member

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    Do we have Open Outcry trading method in india ?


    From Wikipedia :

    Open Outcry
    Operating during regular trading hours (RTH), the open outcry method consists of floor traders standing in a trading pit to call out orders, prices, and quantities of a particular commodity. Different colored jackets are worn by the traders to indicate their function on the floor (traders, runners, CME employees, etc.). In addition, complex hand signals (called Arb) are used. These hand signals were first used in the 1970s. The pits are areas of the floor that are lowered to facilitate communication, sort of like a miniature amphitheater. The pits can be raised and lowered depending on trading volume. To an onlooker, the open outcry system can look chaotic and confusing, but in reality the system is a tried and true method of accurate and efficient trading. An illustrated project to record the hand signal language used in CME's trading pits has been compiled
     
  2. Smart_trade

    Smart_trade Moderator

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    We had open outcry system in BSE but now all the financial trading in India is done on computerised platforms.

    Some commodities like Turmeric,Chillies etc have open outcry trading in their respective Mandis.

    Smart_trade
     
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  3. internet_fanbboy

    internet_fanbboy Active Member

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    There is a movie about this subject - Floored

    This shows how the Open Outcry system is becoming fast obsolete.
     
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