This extract is reproduced with permission:
In keeping with modern trading methods, the stock exchange has largely discarded floor trading, typically using the open outcry method, for electronic trading, also commonly known as ‘e-trading’. During the visit – on a weekday during the 9am – 3pm trading, the floor was unusually quiet with only a small group of people wearing red jackets – the traders present in the exchange. This change occurred back in 2006 where the Exchange became fully automated, reducing the need for traditional brokers on the trading floor. This is also part of the Exchange’s strategic plan to keep up with the times, upgrading its trading through electronic automation and greater information symmetry.
Read more about SMU’s Industry Study Mission China visit to the Shanghai Futures Exchange.
Credit: International Trading Institute@SMU