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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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PRINTED FROM MIT PRESS SCHOLARSHIP ONLINE (www.mitpress.universitypressscholarship.com). (c) Copyright The MIT Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in MITSO for personal use.date: 02 August 2021

Tools of the Trade: The Socio-Technology of Arbitrage in a Wall Street Trading Room

Tools of the Trade: The Socio-Technology of Arbitrage in a Wall Street Trading Room

Chapter:
(p.253) 8 Tools of the Trade: The Socio-Technology of Arbitrage in a Wall Street Trading Room
Source:
Living in a Material World
Author(s):

Daniel Beunza

David Stark

Publisher:
The MIT Press
DOI:10.7551/mitpress/9780262162524.003.0009

This chapter explains the tools of trading, quantitative finance, various aspects of the trading room, and price mechanism monitoring. Arbitrage is a trading strategy that represents the distinctive combination of connectivity, knowledge, and computing, and arbitrage trading can be seen as an economy of information and speed. To explain modern arbitrage, two traditional strategies, value investing and momentum investing, are considered. The chapter also describes a Wall street trading room as an associative space, as an ecology of evaluative principles, and as a laboratory that generates pattern recognition and promotes sociability among traders. Instrumentation has been brought into the account of economic sociologists, and calculative practices have been distributed across persons and instruments as economic sociologists have made the study of technology an integral part of the tools of the trade.

Keywords:   trading, arbitrage, instrumentation, investment, pattern recognition

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