The end of this article hints at the real macro trend here: the NYSE floor is a glorified TV stage. Compare NYSE to NASDAQ.<p>First - a quick explanation of what these market makers do. Every security is primarily listed on a single exchange. In the US, this is dominated by NYSE and NASDAQ. Any listing exchange assigns market makers to the securities that it lists - these firms guarantee that they will both offer and buy the stock within certain limit and pricing restrictions. In return for this responsibility the market makers get price breaks and other preferential treatment. NASDAQ never had a floor, so these were just designated firms you could (in the early days) call. NYSE, on the other hand, assigned this responsibility to specific individuals from firms - all in one building on a single trading floor. Once the markets electronified, it was easier for the NASDAQ market makers to adapt and become electronic and more automated as well. As NYSE held on to the old model of individuals on the floor, they attempted to justify it - mostly by spreading distrust of computers. (Distrust which has proven partially justified - see the Knight Capital meltdown a few years ago.) Despite their arguments that the humans are adding to the stability of the market, the reality is the humans are doing less and less. For the last 5 years at least all floor brokers and market makers are managing most of their orders electronically with the help of &quot;upstairs&quot; - other employees of the markets makers &#x2F; floor brokers who are upstairs. Furthermore, the benefits that come with being a market maker apply to some of the firm&#x27;s electronic business as well - effectively making the floor presence a cost that is made up off the floor.<p>TL;DR - The NYSE floor is a joke. This just proves it.