US readies markets for emergencies

Traders on the exchange floor have an advantage over those outside the exchange, because they can see more quickly than anyone else whether stocks are under buying or selling pressure, Madhavan said. That information is valuable, and if the exchange switched to a simulated floor it would face pressure to give all traders the same access. "Outside the US, floors are disappearing really quickly, and automated auctions are the wave of the future," Madhavan said. "The US is the lone holdout, and it's the holdout because it has a strong group of dealers who are politically connected."