The decline of trading on Wall Street, explained
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…
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