Jump to ContentJump to Main Navigation
Taking the FloorModels, Morals, and Management in a Wall Street Trading Room$
Users without a subscription are not able to see the full content.

Daniel Beunza

Print publication date: 2019

Print ISBN-13: 9780691162812

Published to Princeton Scholarship Online: May 2020

DOI: 10.23943/princeton/9780691162812.001.0001

Show Summary Details
Page of

PRINTED FROM PRINCETON SCHOLARSHIP ONLINE (www.princeton.universitypressscholarship.com). (c) Copyright Princeton University Press, 2022. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in PRSO for personal use.date: 23 May 2022

Animating the Market

Animating the Market

Chapter:
(p.55) 4 Animating the Market
Source:
Taking the Floor
Author(s):

Daniel Beunza

Publisher:
Princeton University Press
DOI:10.23943/princeton/9780691162812.003.0004

This chapter looks at how to ensure that social cues are present on the trading floor. It introduces the sales desk at International Securities, along with its convivial work atmosphere. Sales traders did not buy or sell stocks for the bank's proprietary account but executed trades for their customers instead. Their skills and resources, including humor, excitement, charisma, or business contacts at the stock exchanges, were different from and complementary to those of other traders on the floor. In the course of the chapter's observations, the sales traders appeared to be engaged in a number of seemingly controversial practices such as earning soft-dollar commissions, crossing the Chinese Wall, or pulling pranks on accidental callers to the bank's phone line. By examining the ways in which these sales traders adopted, modified, and conceived of these practices, the chapter reveals their practiced, as opposed to stated, morality.

Keywords:   social cues, sales desk, sales traders, controversial practices, practiced morality

Princeton Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us.