What is a quotron machine?

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Quotron II Desk Unit. In 1961 QUOTRON , a computerized stock-quotation system using a Control Data Corporation. computer, was introduced. Quotron became popular with stockbrokers, signaling the end of traditional ticker tape.

Who bought Quotron?

Quotron was bought by Citicorp in 1986 and then acquired by Reuters nearly eight years later.

When did Wall Street get computers?

In reality, trading at the NYSE has been computerized going all the way back to 1966. The first computers at the NYSE were ill-equipped to handle the tremendous trading volume that would come pouring in the early years.

When did the stock market become computerized?

Dec. 20, 1966
On Dec. 20, 1966, the New York Stock Exchange switched to a fully automated computerized trading system for the first time.

How did ticker tape machines work?

It consisted of a paper strip that ran through a machine called a stock ticker, which printed abbreviated company names as alphabetic symbols followed by numeric stock transaction price and volume information. The term “ticker” came from the sound made by the machine as it printed.

What is meant by penny stocks?

A penny stock refers to a small company’s shares that typically trade for lower than $5 per share. Penny stocks are usually considered high-risk investments due to their low price, lack of liquidity, small market capitalization and wide bid-ask spread.

When did the NYSE go electronic?

In the wake of the 1987 crash, when some market makers refused to pick up their phone, the Small Order Execution System was launched, allowing electronic order entry. (For more, see Getting To Know The Stock Exchanges.)

When did the NYSE go digital?

In March 2020, the NYSE announced plans to temporarily move to all-electronic trading on March 23, 2020, due to the COVID-19 pandemic. Along with the PHLX and the BSE, the NYSE reopened on May 26, 2020.

What was printed on ticker tape?

What is a Quotron machine?

Its goal was to replace printed stock ticker tape with an electronic screen. Think of it as an early version of today’s Bloomberg Terminal. Quotron was bought by Citicorp in 1986 and then acquired by Reuters nearly eight years later. The Quotron machine is the predecessor to today’s Reuters trading platforms, popular in the U.K.

Is Quotron owned by Reuters?

Quotron was bought by Citicorp in 1986 and then acquired by Reuters nearly eight years later. The Quotron machine is the predecessor to today’s Reuters trading platforms, popular in the U.K.

What happened to Quotron in La?

Quotron staff in NY were rolled into Reuters America and moved to 1700 Broadway. By 1994 the LA manufacturing arm that produced all those Quotron terminals and custom hardware had been scaled back to bare minimum. Development staff for Advantage AE continued to work in the LA site through the mid 90′s.