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Living in a Material WorldEconomic Sociology Meets Science and Technology Studies$
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Trevor Pinch and Richard Swedberg

Print publication date: 2008

Print ISBN-13: 9780262162524

Published to MIT Press Scholarship Online: August 2013

DOI: 10.7551/mitpress/9780262162524.001.0001

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Trading-Room Telephones and the Identification of Counterparts

Trading-Room Telephones and the Identification of Counterparts

(p.291) 9 Trading-Room Telephones and the Identification of Counterparts
Living in a Material World

Fabian Muniesa

The MIT Press

This chapter describes professional telephony systems for financial trading rooms, communicational usages involving telephones in three financial trading environments, and sociological implications of the use of telephones. The phone call is an essential feature of many market interactions, and telephony constitutes a non-negligible part of the financial technology business. Trading-room telephones, highly sophisticated devices, allow handling of several simultaneous calls, without queuing, and all telephone conversations are recorded, time-stamped, and saved on a secure server. The author also presents the principle of order-driven exchanges, based on auction mechanism, bilateral telephone communication and screen trading at the Paris Bourse, and uses of telephone at the level of sales trader. The use of the telephone is a good indicator of the intensity of the counterpart identification in a particular market arrangement.

Keywords:   telephones, trading, communication, market devices, counterpart identification

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