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MacroGlide on Instagram: "Open outcry, the hand signal system used by floor traders on exchanges like the NYSE and CME, enabled rapid trade execution before electronic systems. Buy and sell were shown with palm direction, quantities with fingers, and contract details through gestures. At its peak, the CME processed over 500 million contracts annually via open outcry, with trade execution times often under 3 seconds. Though phased out by 2015, it handled billions in daily volume for decades and w
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Wall Street traders used an intricate system of hand signals in a practice called "open outcry" to communicate buy or sell orders, quantity, and price in a loud trading pit. These gestures, which included indicating direction with inward or outward palms and numbers using hand placement, allowed for the rapid execution of millions of dollars in trades. Credit: Mojo HD | History In Pictures
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