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What is a Telephone Booth?

In the trading world, a telephone booth refers to a phone bank on the floor of the New York Stock Exchange.

How Does a Telephone Booth Work?

When an investor wishes to buy or sell a security listed on the NYSE, she 'places a trade' or an 'order' by calling her broker or going to her online trading account. In either case, the order goes to a broker, who can get the order to the exchange several ways -- through a regional exchange, electronic communications network, or directly to the NYSE. No matter how the order is placed, it eventually reaches the floor of the NYSE where floor brokers and specialists handle transactions.

Why Does a Telephone Booth Matter?

The telephone booth is there to handle communication between the parties, though in today's age of electronic communication and cell phones, they are quickly becoming memorabilia.

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Paul Tracy
Paul Tracy

Paul has been a respected figure in the financial markets for more than two decades. Prior to starting InvestingAnswers, Paul founded and managed one of the most influential investment research firms in America, with more than 3 million monthly readers.