Towergroup Coverage: Let's Meet for Dinner on the Floor of the NYSE

It was only four short years ago when Robert Hegarty, the managing director for Towergroup's Securities & Investments practice, made the statement that the NYSE trading floor will never go away. How quickly things change. In his presentation today at this year's Towergroup Financial Services and Business Technology conference, Hegarty joked, "Oops, I'm eating crow on that one, but soon we will all be eating crow in a very nice restaurant on the floor of the exchange" after the exchange eventually closes all of the trading floors. Hegarty highlighted some of the notable staffing cutbacks that many of the broker dealers and specialists have made in the past few months as they continue to reduce their floor presence on the NYSE. Greg MacSweeney is editorial director of InformationWeek Financial Services, whose brands include Wall Street & Technology, Bank Systems & Technology, Advanced Trading, and Insurance & Technology. View Full Bio