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pizzalife 34 minutes ago

It's funny to think some of the world's largest trades are being done in something that resembles a game's tradechat. (WTS bonds)

lq9AJ8yrfs 11 minutes ago | parent | next [-]

For a long time fixed income trading took place over AOL Instant Messenger and later Yahoo chat rooms.

I am not making this up.

There were custom frontends that would enrich things like cusips.

globular-toast 21 minutes ago | parent | prev [-]

I find it a bit less funny. There is this perception that what finance people do is super important and grown up but following a brief stint in the industry I realised it literally is just a game. We used to trade bits of stationery and trading cards for fun at school. They never stopped. The only difference is people who never consented to any of this are paying for it all, especially when it all goes wrong.

allthetime 3 minutes ago | parent [-]

That should have been obvious from the mere fact that the bottom rungs are almost completely populated by silver-spooned nepo-babies.