The decline of trading on Wall Street, explained

Finance

Wall Street used to be full of traders.

Buying and selling stocks or bonds used to happen on the phone, in person or in the packed trading pits in Chicago, New York and London. Prestigious investment banks boasted of trading desks the size of football fields. Now, they’re losing money on trading operations and laying off scores of traders.

Deutsche Bank, Citigroup and Societe Generale are just a few of the big financial firms to announce trading-desk layoffs in recent months.

The shift to electronic trading and passive investing are big culprits behind the trend, squeezing profits in the trading business to razor-thin margins.

Watch the video above to learn more about what’s behind the decline of Wall Street’s lucrative trading profession.

Articles You May Like

Workplace flexibility is helping Americans take longer trips this holiday season, report finds
Restaurant executives can’t wait for 2025 after slow traffic and wave of bankruptcies
Number of older adults who lost $100,000 or more to fraud has tripled since 2020, FTC says
Your Life Can’t Wait! Learn To Decumulate.
73% of workers worry Social Security won’t be able to pay retirement benefits. Here’s what advisors say

Leave a Reply

Your email address will not be published. Required fields are marked *