telephone booth

noun
Updated on: 11 Sep 2017

Definition of telephone booth

:an enclosure within which one may stand or sit while making a telephone call

First Known Use of telephone booth

1888


Financial Definition of TELEPHONE BOOTH

telephone booth

What It Is

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

How It Works

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 It Matters

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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