28 Aug 2017 Hong Kong Brokers Make Final Stand Against Trading Floor’s Demise
Hong Kong’s stock exchange played host to 906 trading booths at its peak; Today, there are only 62 active desks
The Hong Kong stock exchange’s 31-year-old trading hall is set to close this fall, but not without some pushback from its remaining tenants.
Stock-exchange operator Hong Kong Exchanges & Clearing Ltd. 0388 0.19% said earlier this month it would shut the trading floor, one of the few remaining such venues in major global markets, in October. It plans to convert the venue into an exhibition area.
Only about 30 people now work in the trading hall on a normal day, according to HKEx, compared with nearly 1,000 during its heyday in the 1980s and 1990s. Almost all trading there is conducted electronically, the same way brokers buy and sell stocks from an external location.