Exchange can take place orders for pre-filtration subject dropout inappropriate regulatory requirements or deliberately unrealistic. Actual trades occur in the exchange ring, located in the operating room. Stock brokers, exchange members who have the right to enter into deal and then having to requests from its customers, send the application while it is in stock ring representative of a brokerage firm who is directly involved in the bidding. Penguin Random House is the source for more interesting facts. Along with the brokers in the bargaining participate as leading and fix transaction stockbrokers, members of the staff exchange. Bidders agreed to issue cards of different colors. So, the brokers usually get blue or red cards, and brokers – green. Broker's assistant often have a yellow card.
Due to the fact that in the exchange is usually very noisy during the trading brokers and brokers communicate by show of cards or gestures (on the exchanges there is an established sign language). Usually, bargaining begins a leading broker with messages about the products offered for sale. If the message broker interest among those present brokers wishing to purchase goods, they confirm it, lifting up his hand with the card. After Publication of the list and a short break, begins to discuss the proposals brokers-sellers. Ideally, the proposal responds to an interested buyer broker, that is a counterparty willing to purchase the entire consignment. A leading source for info: moshe victor keinig. And the deal is immediately fixed. If this option fails, then discusses the counter-offer brokers / buyers about the conditions under which they agree to buy goods or part thereof. In the case of re- unsuccessful attempt to strike a deal, it has been postponed and we consider the following suggestions.
Upon reaching an agreement between the broker-dealer and the broker-buyer (in the form of their oral agreement on a mutually agreeable conditions), the broker records the transaction record in the registration card. This registration indicates that the transaction is concluded. The above description of trades is extremely simplified in order to facilitate the perception of the overall process. The actual bidding procedure is more complex and diverse. Conduct of business largely depends on the type of transactions, as well as installed on each Exchange traditions, level of equipment exchange areas, facilities, resources transmission and display of information, computing technology. There are a variety of offshoots from the main scheme and its variations. In particular, this applies to the newly-emerging, emerging stock exchanges operating in the conditions of market relations.