Bloomberg - Iconic trading floor closes today

Man with no name

Another one bites the dust.

Bloomberg News reports that Hong Kong Exchanges & Clearing Ltd. is about to become the newest member of a once unthinkable club: stock exchanges without a trading floor.

HKEX will shut its iconic Trading Hall on Friday, 31 years after opening the space in the heart of the city’s financial district. While it survived longer than counterparts in Singapore and Tokyo, Hong Kong’s floor had become increasingly irrelevant amid the rise of electronic trading. The last time HKEX bothered to publish figures in 2014, floor transactions comprised just 0.2 percent of total turnover.

The closing has been met with a mix of resignation and nostalgia by local traders, some of whom spent the bulk of their working lives in the space, shouting orders through the 1987 crash, the dot-com bubble, the SARS outbreak, and countless other booms and busts. As the digital revolution pushed more and more trades from humans to computers, the floor got quieter and quieter: daily attendance dwindled to about 30 recently from 600 in 2000.

Hit the link below to access the complete Bloomberg News article:

Hong Kong's Iconic Trading Floor Is the Latest to Close for Good

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