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The Stock Exchange Trading Room, 1977
“View looking southeast from [The Art Institute] gallery into reconstructed room.” Originally published in The Stock Exchange Trading Room, 1977. 80 Downloaded from http://www.mitpressjournals.org/doi/pdf/10.1162/1526381041165476 by guest on 25 September 2021 The Stock Exchange: Standing Upright, Idle CATHERINE INGRAHAM It is clear, in any case, that mathematical order imposed upon stone is really the culmination of the evolution of earthly forms, whose direction is indicated within the biological order by the passage from the simian to the human form, the latter already displaying all the elements of architecture. Man would seem to represent merely an intermediary stage within the morphological develop- ment between monkey and building.1 One room, the second-floor Trading Room, of Louis Sullivan’s Stock Exchange Building (1863) in Chicago, has been preserved (1977) in the Chicago Art Institute for museum visitors to see and for the museum to use for banquets and fund-raising events.2 Housing architecture, or parts of architecture, in a museum has always been odd. Short of leaving architectural fragments lying around where they fell—the scenic architectural ruin that becomes its own museum—architecture is typically brought into the museum in miniaturized or schematic or cinematic form; as a model, drawing, photograph, or film. On some occasions—the stock exchange trading room is one such occasion— architectural parts are brought into a museum context and completely recon- structed at the original scale. The Pergamon Museum in Berlin houses pilfered building fragments (gates, walls) from Babylon that seem almost plausible architecturally, perhaps because the museum building itself and the colossal fragments are in rooms whose scale is already so large that nothing but archi- tectural remains can be imagined inside them. -
View the Bloomberg Terminal User Guide
Press the <HELP> key twice for instant Helpx2 live assistance. bloomberg.com Frankfurt New York Singapore +49 69 9204 1210 +1 212 318 2000 +65 6212 1000 Hong Kong San Francisco Sydney +852 2977 6000 +1 415 912 2960 +61 2 9777 8600 London São Paulo Tokyo GETTING +44 20 7330 7500 +55 11 3048 4500 +81 3 3201 8900 The BLOOMBERG PROFESSIONAL service, BLOOMBERG Data and BLOOMBERG Order Management Systems (the “Services”) are owned and distributed locally by Bloomberg Finance L.P. (“BFLP”) and its subsidiaries in all jurisdictions other than Argentina, Bermuda, China, India, STARTED Japan and Korea (the “BLP Countries”). BFLP is a wholly-owned subsidiary of Bloomberg L.P. (“BLP”). BLP provides BFLP with all global marketing and operational support and service for the Services and distributes the Services either directly or through a non-BFLP subsidiary in the BLP Countries. BLOOMBERG, BLOOMBERG PROFESSIONAL, BLOOMBERG MARKETS, BLOOMBERG NEWS, BLOOMBERG ANYWHERE, BLOOMBERG TRADEBOOK, BLOOMBERG BONDTRADER, BLOOMBERG TELEVISION, BLOOMBERG RADIO, BLOOMBERG PRESS and BLOOMBERG.COM are trademarks and service marks of BFLP or its subsidiaries. ©2007 Bloomberg Finance L.P. All rights reserved. 26443337 1107 10006030 02 The Bloomberg Keyboard Keyboard and Navigation 04 Creating a Login Name and Password 06 Finding Information Autocomplete and the <HELP> Key 06 The Global Help Desk: 24/7 Interact with the Bloomberg Help Desk 08 Broad Market Perspectives Top Recommended Functions 09 Analyzing a Company Basic Functions for Bonds and Equities 10 Communication The BLOOMBERG PROFESSIONAL® Service Message System 11 Tips, Tricks, and Fun 12 Customer Support If you are not using a Bloomberg-provided keyboard, press the Alt + K buttons simultaneously to view an image of your keyboard. -
Securitization of Assets: Problems and Solutions
S. HRG. 111–397 SECURITIZATION OF ASSETS: PROBLEMS AND SOLUTIONS HEARING BEFORE THE SUBCOMMITTEE ON SECURITIES, INSURANCE, AND INVESTMENT OF THE COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS UNITED STATES SENATE ONE HUNDRED ELEVENTH CONGRESS FIRST SESSION ON EXAMINING THE SECURITIZATION OF MORTGAGES AND OTHER ASSETS OCTOBER 7, 2009 Printed for the use of the Committee on Banking, Housing, and Urban Affairs ( Available at: http://www.access.gpo.gov/congress/senate/senate05sh.html U.S. GOVERNMENT PRINTING OFFICE 56–262 PDF WASHINGTON : 2010 For sale by the Superintendent of Documents, U.S. Government Printing Office Internet: bookstore.gpo.gov Phone: toll free (866) 512–1800; DC area (202) 512–1800 Fax: (202) 512–2104 Mail: Stop IDCC, Washington, DC 20402–0001 COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS CHRISTOPHER J. DODD, Connecticut, Chairman TIM JOHNSON, South Dakota RICHARD C. SHELBY, Alabama JACK REED, Rhode Island ROBERT F. BENNETT, Utah CHARLES E. SCHUMER, New York JIM BUNNING, Kentucky EVAN BAYH, Indiana MIKE CRAPO, Idaho ROBERT MENENDEZ, New Jersey BOB CORKER, Tennessee DANIEL K. AKAKA, Hawaii JIM DEMINT, South Carolina SHERROD BROWN, Ohio DAVID VITTER, Louisiana JON TESTER, Montana MIKE JOHANNS, Nebraska HERB KOHL, Wisconsin KAY BAILEY HUTCHISON, Texas MARK R. WARNER, Virginia JUDD GREGG, New Hampshire JEFF MERKLEY, Oregon MICHAEL F. BENNET, Colorado EDWARD SILVERMAN, Staff Director WILLIAM D. DUHNKE, Republican Staff Director DAWN RATLIFF, Chief Clerk DEVIN HARTLEY, Hearing Clerk SHELVIN SIMMONS, IT Director JIM CROWELL, Editor SUBCOMMITTEE ON SECURITIES, INSURANCE, AND INVESTMENT JACK REED, Rhode Island, Chairman JIM BUNNING, Kentucky, Ranking Republican Member TIM JOHNSON, South Dakota JUDD GREGG, New Hampshire CHARLES E. -
Overview of Risk Management in Trading Activities Section 2000.1
Overview of Risk Management in Trading Activities Section 2000.1 Risk is an inevitable component of intermedia- must determine that the computer system, man- tion and trading activity. Given the fundamental agement information reports, and other forms of trade-off between risks and returns, the objec- communication are adequate and accurate for tive of regulators is to determine when risk the level of business activity of the institution. exposures either become excessive relative to the financial institution’s capital position and financial condition or have not been identified to the extent that the situation represents an unsafe GLOBAL RISK-MANAGEMENT and unsound banking practice. FRAMEWORK Determination of whether the institution’s risk-management system can measure and con- The primary goal of risk management is to trol its risks is of particular importance. The ensure that a financial institution’s trading, primary components of a sound risk-management position-taking, credit extension, and opera- process are a comprehensive risk-measurement tional activities do not expose it to losses that approach; a detailed structure of limits, guide- could threaten the viability of the firm. Global lines, and other parameters used to govern risk risk management is ultimately the responsibility taking; and a strong management information of senior management and the board of direc- system for monitoring and reporting risks. These tors; it involves setting the strategic direction of components are fundamental to both trading and the firm and determining the firm’s tolerance for nontrading activities. Moreover, the underlying risk. The examiner should verify that the risk risks associated with these activities, such as management of capital-markets and trading market, credit, liquidity, operations, and legal activities is embedded in a strong global (firm- risks, are not new to banking, although their wide) risk-management system, and that senior measurement can be more complex for trading management and the directors are actively in- activities than for lending activities. -
Futures Trading Rooms: 7 Reasons You Should Stay Away
Futures Trading Rooms: 7 Reasons You Should Stay Away Futures Trading Rooms – 7 Reasons You Should Stay Away Futures trading rooms are probably the next step in the evolution of marketing hype that can entice the gullible traders for all the wrong reasons. In the world of online trading, there is no dearth of misinformation. From books to trading courses and well, trading rooms, without due diligence, it is quite easy for anyone to unwillingly fall prey to false information. This can be quite detrimental to one’s trading success especially if the pattern is caught quite early on. The amount of choices that are available especially for someone who is new to trading can often lead to making false choices which lead to losing money rather than making money trading the financial markets. Even before one has dabbled in trading online, chances are that the lure of making it rich and the easy path to success have already blinded the potential trader. It is easy and perhaps understandable as to why one wouldn’t be tempted to take the easy route. No matter which market you look at, stocks or forex or even futures, it is not very difficult to miss out on the various advertisements screaming at you telling how easy it is to make money by joining the trading room. If you have been wondering or thinking about joining a futures trading room either in expectations that you might make a fortune trading based off an expert’s trading calls or hoping to learn more by hanging out with other traders in the trading chat room, here are seven reasons why you should stay away from joining a futures trading room. -
The Socio-Technology of Arbitrage in a Wall Street Trading Room
Tools of the Trade: The Socio-Technology of Arbitrage in a Wall Street Trading Room Daniel Beunza Department of Economics and Business, Universitat Pompeu Fabra and Center on Organizational Innovation, Columbia University [email protected] and David Stark Department of Sociology, Columbia University, and The Santa Fe Institute [email protected] Published in Industrial and Corporate Change 2004, 13: 369–400. Winner of the 2005 Outstanding Paper Award, American Sociological Association (Communications and Information Technology Division). This is a pre-copyediting, author-produced PDF of an article accepted for publication in Industrial and Corporate Change. The definitive publisher-authenticated version is available online at http://icc.oxfordjournals.org/ . Daniel Beunza is Assistant Professor at Universitat Pompeu Fabra, Barcelona (Spain) and Faculty Associate at Columbia’s Center on Organizational Innovation. David Stark is Arthur Lehman Professor of Sociology and International Affairs at Columbia University and an External Faculty member at the Santa Fe Institute. Tools of the Trade: The Socio-Technology of Arbitrage in a Wall Street Trading Room Daniel Beunza and David Stark Abstract Our task in this paper is to analyze the organization of trading in the era of quantitative finance. To do so, we conduct an ethnography of arbitrage, the trading strategy that best exemplifies finance in the wake of the quantitative revolution. In contrast to value and momentum investing, we argue, arbitrage involves an art of association - the construction of equivalence (comparability) of properties across different assets. In place of essential or relational characteristics, the peculiar valuation that takes place in arbitrage is based on an operation that makes something the measure of something else - associating securities to each other. -
Trading and Capital-Markets Activities Manual First Printing, February 1998 Prepared By: Federal Reserve System
Trading and Capital-Markets Activities Manual First Printing, February 1998 Prepared by: Federal Reserve System Send comments to: Director, Division of Banking Supervision and Regulation Board of Governors of the Federal Reserve System Washington, D.C. 20551 Copies of this manual may be obtained from: Publications Services Division of Support Services Board of Governors of the Federal Reserve System Washington, D.C. 20551 Updates are available at an additional charge. For information about updates or to order by credit card, call 202-452-3244. Trading and Capital-Markets Activities Manual Supplement 8—September 2002 Nature of Changes how a banking organization can mitigate the risk that may arise if a counterparty claims that a Trading Activities bank-recommended or -structured derivatives transaction was unsuitable for it. Other changes In section 2020.1, ‘‘Counterparty Credit Risk discuss the new-product approval process in and Presettlement Risk,’’ a new subsection on banking organizations, including the role of off-market or prefunded derivatives transactions in-house or outside legal counsel in defining and has been added to provide examples of deriva- approving new products. The examination tives transactions that are the functional equiva- objectives and examination procedures, sections lent of extensions of credit to counterparties and 2070.2 and 2070.3, respectively, have also been to describe the risks associated with them. The updated. discussion of assessment of counterparty credit risk has been revised to specify that banking Capital-Markets Activities organizations should understand and confirm with their counterparties the business purpose of Section 3040.1, ‘‘Equity Investment and Mer- derivatives transactions. chant Banking Activities,’’ has been completely A more detailed discussion of contingency revised. -
SENATE 415 Him
1942 CONGRESSIONAL RECORD-SENATE 415 him. His sincE:rity I admit. His patriot ENROLLED BILL SIGNED· to the Committee of the WhC'1P. House on the ism, of course, as that of every other state of the Union. Mr. KIRWAN, from the Committee on Mr. NICHOLS: Select Committee to Investi Member, is not questioned. I am not Enrolled Bills, reported that that com- gate Air Accidents. House Resolution 125. :finding fault. This is' not personal. I am . mittee had examined and found truly Resolution creating a Select COmmittee to )ust trying to get on the record the fact enrolled a bill of the House of the follow Investigate Air Accidents; without amend that these men had behind them a record ing title, which was thereupon signed by ment (Rept. No. 1592). Referred to the Com of lawlessness and violence and the use the Speaker: mittee of the Whole Hous& on the state of of force to stop production. the Union. H. R. 5095. An act to set aside certain lands Mr. VOORHIS of California. As Ire Mr. FULMER: Committee on Agric-glture. in Oklahoma for the Cheyenne-Arapaho H. R. 6359. A bill granting relief to certain call, it was Mr. Frankensteen who was Tribes of Indians; and to carry out certain agricultural producers in stricken areas who in California at the time of the North obligations to certain enrolled Indians under suffered crop failures in 1941 because of ad American strike, and he certainly stood tribal agreement. verse weather conditions, insect pests, or other behind the President in the action he ADJOURNMENT uncontrollable natural causes; with amend took there and kept production going. -
– Obituaries – Was Marine and Purple Heart Recipient Charles James Mc Donough, 87, of Staff College in Many Intelligence Frederick Girvin Rodgers, Jr
A WATCHUNG COMMUNICATIONS, INC. PUBLICATION The Westfield Leader and The Scotch Plains – Fanwood TIMES Thursday, November 9, 2006 Page 19 Charles J. Mc Donough, 87, Retired Frederick G. Rodgers, Jr., 78, Engraver; As Lt. Col. After 30-Year Army Career – Obituaries – Was Marine and Purple Heart Recipient Charles James Mc Donough, 87, of Staff College in many intelligence Frederick Girvin Rodgers, Jr. of ris Plains; daughter Candy Shehata the Pine Run Community in and Army schools including Fort Winthrop, Me. died on Friday, No- and her husband, Terry, of Winthrop, Doylestown, Pa. died on Tuesday, Leavenworth, Kan. Anna Marsh, 71, Cherished Her Family; vember 3, 2006, at the Augusta Rehab Me., with whom he lived; son Scott October 31, at the Pine Run Health He was predeceased by his wife, Center in Augusta, Me. after a linger- and his wife, Dorothy, of Scotch Plains; Center. Marian F. Mc Donough, in 1993 and Enjoyed Books, Golf and Word Jumbles ing illness. He was 78 years of age. sister Katherine Smith, of Toms River; Born in Staten Island, N.Y. on April by a brother, Bernard I. Mc Donough. Born on June 29, 1928, five grandchildren, 2, 1919, he was the son of the late Surviving are a son, Michael C. Mc Anna Hayward Marsh of cup of coffee and the sun on her back, he was the son of Derek, Alex and Nate Charles J. and Mary Boyle Mc Donough of Mountainside, and two Doylestown, Pa. and Naples, Fla. playing word jumbles with her hus- Frederick G., Sr. and Mar- Shehata and Jeffrey and Donough. -
Rodgers Family Papers
Rodgers Family Papers A Finding Aid to the Papers in the Naval Historical Foundation Collection in the Library of Congress Manuscript Division, Library of Congress Washington, D.C. 2011 Contact information: http://hdl.loc.gov/loc.mss/mss.contact Additional search options available at: http://hdl.loc.gov/loc.mss/eadmss.ms011168 LC Online Catalog record: http://lccn.loc.gov/mm70052811 Prepared by Ruth S. Nicholson Collection Summary Title: Rodgers Family Papers Span Dates: 1788-1944 Bulk Dates: (bulk 1820-1930) ID No.: MSS52811 Creator: Rodgers family Extent: 15,500 items ; 60 containers plus 1 oversize ; 20 linear feet Language: Collection material in English Location: Manuscript Division, Library of Congress, Washington, D.C. Summary: Rodgers (Rogers) family. Correspondence, journals, drafts of writings and speeches, transcripts of radio broadcasts, book reviews, notes and notebooks, biographical material, and other papers relating chiefly to the naval careers of John Rodgers (1773-1838), John Rodgers (1812-1882), William Ledyard Rodgers (1860-1944), John Augustus Rodgers (1848-1933), and John Rodgers (1881-1926). Includes correspondence of the Hodge family, Matthew Calbraith Perry, Oliver Hazard Perry (1785-1819), and other relatives of the Rodgers family. Selected Search Terms The following terms have been used to index the description of this collection in the Library's online catalog. They are grouped by name of person or organization, by subject or location, and by occupation and listed alphabetically therein. People Agassiz, Louis, 1807-1873. Ammen, Daniel, 1820-1898. Bainbridge, William, 1774-1833. Benson, William Shepherd, 1855-1932. Brooke, John M. (John Mercer), 1826-1906. Buchanan, James, 1791-1868. -
Financialization's Global Infrastructure
Financialization’s Global Infrastructure: Transformation of the Securities Trading Industry Conference “Financialization and Labor” February 27‐28, 2014 Prof. Dr. Sebastian Botzem [email protected]‐bremen.de Universität Bremen| Institut für Interkulturelle und Internationale Studien (InIIS) Wissenschaftszentrum Berlin| Projektgruppe “Modes of Economic Governance” (MEG) Outline I. Introduction: Past and present − images of markets and trading II. Conceptual background: exchanges and financialization III. Transformations in securities trading: i. Technological innovation ii. Deregulation and competition iii. Organizational reform IV. Reinterpreting the global exchange industry V. Conclusion: Financialization and inter‐organizational relations Outline Sebastian Botzem 2 1. Introduction • Rapid and profound change for traders, firms and society at large • Industry perspective to capture blurring boundaries of securities trading • Cross‐border securities trading as mode of market based governance (short termism, redistribution of risk and ownership) • Inter‐organizational focus to grasp embeddedness and change in securities trading; and pointing to financialization of exchanges themselves • Increasing global harmonization, but local varieties of securities trading remain Sebastian Botzem 3 2. Images: NYSE, 1963 I. Introduction Sebastian Botzem 4 2. Images: Zurich, 1988 I. Introduction Sebastian Botzem 5 2. Images: CBOT, 1993 I. Introduction Sebastian Botzem 6 2. Images: UBS trading room, 1996 I. Introduction Sebastian Botzem 7 2. Images: Deutsche Börse, 2011 I. Introduction Sebastian Botzem 8 2. Images: Twitter IPO on NYSE, 2013 I. Introduction Sebastian Botzem 9 2. Images: Börse im Ersten (prime time TV) I. Introduction Sebastian Botzem 10 2. Images: Börse im Ersten (Switch Reloaded) I. Introduction Sebastian Botzem 11 3. Financialization and securities trading • Securities trading – Provision of capital (Weber 1896, Lee 1998) – Market‐based financial system (Hall/Soskice 2001) – Exchanges as icons of statehood and modernity (Mayer et al. -
Congressional Record-Senate.
·,- -~. .... .;· .... ,, \' . ~ - 1890. CONGRESSIONAL RECORD-SENATE. 2425 By Mr. YODER: A bill (H. R. 8446) to increase the pension of Ed bury, of Chippewa Falls, Wis., for same purpose-to the Committee on ward Healy-to the Committee on Invalid Pensions. Ways and Means. By Mr. LAFOLLETTE: Ajointresolution (H. Res.130) authorizing By Mr. MASON : Petition of 200 citizens of Illinois, asking for a George H. Scidmore, vice-consul-general of the United States at Kan Sunday-rest law-to the Committee on Labor. agawa, Japan, to accept and wear a medal conferred upon him by the By Mr. OUTHW AITE: Petition of Union No. 21 of the Bricklay Emperor of Japan-to the Committee on Foreign Affairs. ers and Masons' International Union of America against alien labor on Government works-to the Committee on Labor. CHANGE OF REFERENCE. By Mr. PAYNE: Petition of Sons of Veterans, Port Byron, N. Y., Under clause 2 of Rule XXII, the foUowing change of reference was for increase ofpensions--t.o the Committee on Invalid Pensions. made: Also, petition of citizens of Wayne County, New York, for increase A bill (H. R. 4782) for the relief of the legal representatives of Sam of pensions-to the Committee on Invalid Pensions. • uel Noble-Committee on the J ndiciary discharged, and referred to the By Mr. PETERS: Petition of citizens of Liberal, Kans., for an ap -. Committee on War Claims. propriation for improving grades of sorghum cane-to the Committee on Agriculture. By Ur. PICKLER: Petition of Black Hills (South Dakota) Woman's PETITIONS, ETC. Christian Temperance Union, asking that t.he large expenditure of Naval Under clause 1 of Rule XXII, petitions and papers were delivered to Committee, recommending large appropriations for Navy and so-called the Clerk and referred as follows: coast defenses, be not allowed-to the Committee on Naval Affairs.