How does the stock market work?
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How are stocks bought/sold on the stock market? Is there a central database which all stock brokers connect to? If such a database exists, how could I access it? Jeremy. "Hey man, Taliban, Tali me Banana."
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How are stocks bought/sold on the stock market? Is there a central database which all stock brokers connect to? If such a database exists, how could I access it? Jeremy. "Hey man, Taliban, Tali me Banana."
In the UK, the London Stock Exchange runs a system called SETS, but Joe Public cannot directly access thsi, it must be done through registered Retail Service Providers if you want to enter a trade. You could always log on to the website and look into the requirements for becoming an RSP. Paresh Solanki "To the world, you may be just one person, but to one person, you may be the world"
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How are stocks bought/sold on the stock market? Is there a central database which all stock brokers connect to? If such a database exists, how could I access it? Jeremy. "Hey man, Taliban, Tali me Banana."
First the stock market does not work. Haven't you noticed latly. :-) And no there really is no one database, there are many littler ones. At the stock floor they still trade real pieces of paper (stocks). The larger companies trading on the market have DB to store what stocks they own, when they want to sell, when they want to buy and stuff like that. These DB then genereate orders to their people on the floor who run around and carry out the computers orders. (BofA does it this way)
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First the stock market does not work. Haven't you noticed latly. :-) And no there really is no one database, there are many littler ones. At the stock floor they still trade real pieces of paper (stocks). The larger companies trading on the market have DB to store what stocks they own, when they want to sell, when they want to buy and stuff like that. These DB then genereate orders to their people on the floor who run around and carry out the computers orders. (BofA does it this way)
It is working as designed. The problem is that you have always had investment, speculative, clinically insane traders. Over the last few years, the insane took over. For years everyone way saying the market was overvalued and that the core numbers were just not there to support the stock prices. So, we had a ... HUGE ... correction. Tim Smith "Programmers are always surrounded by complexity; we can not avoid it... If our basic tool, the language in which we design and code our programs, is also complicated, the language itself becomes part of the problem rather that part of the solution." Hoare - 1980 ACM Turing Award Lecture
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How are stocks bought/sold on the stock market? Is there a central database which all stock brokers connect to? If such a database exists, how could I access it? Jeremy. "Hey man, Taliban, Tali me Banana."
Jeremy Pullicino wrote: How are stocks bought/sold on the stock market? Which one? Different stock markets operate under different rules. Jeremy Pullicino wrote: If such a database exists, how could I access it? For almost real time data you could screen scrape the data off of a financial web site. If you want historic data you could look for public domain databases. What are you trying to do anyway?
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How are stocks bought/sold on the stock market? Is there a central database which all stock brokers connect to? If such a database exists, how could I access it? Jeremy. "Hey man, Taliban, Tali me Banana."
The stock market isn't a monolithic system. It's a tight-knit, good-old-boy network of traders who, until recent times, didn't use computer networks at all. Back when I was licensed as a broker the NASD was considering automating trades, but still used the telephone to call in each trade to a member of the exchange. These conditions still prevail in much of the market. If you ever see CNN in the morning (8:30 EST) when they show the opening of the NYSE, that din you hear in the background is really the voices of traders yelling orders back and forth to each other. Orders are scribbled on notepads carried by runners, and entered into the order processing system by members whose employers have paid $millions for a seat on the Exchange. The day's transactions are processed overnight, after the Exchange closes, and the accounts of all the traders are balanced, funds exchanged, and ownership records are updated before the start of another session the next day. The OTC (over the counter) market is worse. Individual brokers are either traders, or market makers - people who own blocks of certain stocks and "make a market" for them. Transactions are now processed by individual firms using computers, but these are handled in house, or using the NASDAQ private network. Pink Sheets, actual paper listings of stocks too small to qualify for listing with the main exchanges, are used to keep track of small cap companies, and trading is very loose. This is where you find so-called "penny stocks," my favorite playground. In short, there is no central market, no vast database you can access. One of the best descriptions of the system, at least the NYSE system, can be found in Tom Clancy's book, "Debt of Honor." "Knock, knock." "Who's there?" "Recursion." "Recursion who?" "Knock, knock..."
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How are stocks bought/sold on the stock market? Is there a central database which all stock brokers connect to? If such a database exists, how could I access it? Jeremy. "Hey man, Taliban, Tali me Banana."
In North America, you can set up a trading account with what's referred to as a discount brokerage, which allows you to buy and sell stocks on your own. You pick the stocks, how much to buy or sell, and the system executes the trade for you in real-time. Discount brokers charge a per transaction fee which can range from free to $30 per trade (buy or sell). There is another type of broker, called a full service broker, or just a broker that provides services like managing your portfolio (your stocks), and gives you advice on what trades to make based on your financial goals. You pay a broker a fee to retain the service and establish an account, and may pay a fee per transaction. Brokers (whether discount or otherwise) pay to access the stock market, so some try to save some money by executing your trade either within their own systems (matching buyers with sellers within a single broker), or by using the service of an ECN (I cannot remember what the acronym means). An ECN is a network service (that brokers also pay to access - although less that the fee they pay to access the stock market), that matches buyers and sellers across many brokers without going out to the market, although an ECN will go to the market if it cannot fulfill an order (they make their money by trading as often within the ECN). Individual stock markets operate differently from each other. For example, the NASDAQ operates 100% without paper (executing trades electronically) while the NYSE still uses a paper trail to execute a trade. Individual stocks usually trade on a single exchange, although there are exceptions in cases where a company wants to have their stocks traded on, for example, a Canadian and US exchange. As far as a database, individual exchanges keep track of what stocks they trade and enforce trading regulations. They also store and publish historical trading information, although since trading information is public, many Web sites offer historical stock information as well. You can get information on public companies from the companies themselves as they are required to disclose all relevant information in order to be publicly traded in the first place. You can also use the services of a stock broker, research firm, or other entities that provide analysis of publicly available information and may have access to analysts that track individual companies. Erik Westermann Author, Learn XML In A Weekend (Fall 2002)
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How are stocks bought/sold on the stock market? Is there a central database which all stock brokers connect to? If such a database exists, how could I access it? Jeremy. "Hey man, Taliban, Tali me Banana."
You mean the Stock Casino ?? Where the 'house' always wins ?? Steven J. Ackerman, Consultant ACS, Sarasota, FL http://www.acscontrol.com steve@acscontrol.com sja@gte.net
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First the stock market does not work. Haven't you noticed latly. :-) And no there really is no one database, there are many littler ones. At the stock floor they still trade real pieces of paper (stocks). The larger companies trading on the market have DB to store what stocks they own, when they want to sell, when they want to buy and stuff like that. These DB then genereate orders to their people on the floor who run around and carry out the computers orders. (BofA does it this way)
Jason McBurney wrote: At the stock floor they still trade real pieces of paper I guess you're talking about Wall Street. In London they went electric years ago, it wasn't compulsorary, but from the day it was permitted, the old trading-floor was a ghost-town. I'm not even sure it exists anymore. Regards, Ray
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Jason McBurney wrote: At the stock floor they still trade real pieces of paper I guess you're talking about Wall Street. In London they went electric years ago, it wasn't compulsorary, but from the day it was permitted, the old trading-floor was a ghost-town. I'm not even sure it exists anymore. Regards, Ray
NYSE has been computerized for a very long time now. However, if I remember correctly, paper is still used at trading posts/pits but are entered into a computer by other personel. (???? hard to remeber since I have seen too many bad movies about trading stocks.) Tim Smith "Programmers are always surrounded by complexity; we can not avoid it... If our basic tool, the language in which we design and code our programs, is also complicated, the language itself becomes part of the problem rather that part of the solution." Hoare - 1980 ACM Turing Award Lecture
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How are stocks bought/sold on the stock market? Is there a central database which all stock brokers connect to? If such a database exists, how could I access it? Jeremy. "Hey man, Taliban, Tali me Banana."
from a tech perspective most exchanges work on a bid / offer matched trade basis ... someone wanting to buy x numbers of share y puts up an offer ... if someone with an amount of share y wants to sell at that price they accept and a deal is concluded ... settlement periods (when they actually have to deliver the shares / money) vary between exchanges but with electronic settlement (big-assed computer systems) it is usually 2 days the window before settlement is where the vultures make their money ... the abitrage traders ... vultures of the world in any other language theres a lot of stuff to learn about stock markets that could (and does) fill many books and take years to learn
"... and so i said to him ... if it don't dance (or code) and you can't eat it either f**k it or throw it away"
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How are stocks bought/sold on the stock market? Is there a central database which all stock brokers connect to? If such a database exists, how could I access it? Jeremy. "Hey man, Taliban, Tali me Banana."
there are different stockmarkets
:suss: Email: theeclypse@hotmail.com URL: http://www.onyeyiri.co.uk
:suss:"All programmers are playwrights and all computers are lousy actors." -
How are stocks bought/sold on the stock market? Is there a central database which all stock brokers connect to? If such a database exists, how could I access it? Jeremy. "Hey man, Taliban, Tali me Banana."
I could tell you what I know, which would take hours, and it would not be half off it. I freely admit that with working with one for some time, I far from know it all. I can say thought, that fact that you asked if you could connect to a database that held the stockmarket, possibly means that you had not realised there was more than one - and other countries too, and by asking it means even if you can access one (a market database) directly means that they would not let you. Not being mean here, just that a lot of money flows through, and you need to me 'licenced' of sorts (and to understand it to a proficient extent) to get access. i.e. large financially regulated body like a bank, or trading house. Anyway the market is only one layer. You still need to settle the trades in the custody network. Now I'm twisting your mellons. :-D