9 technologies that have changed investment - from the telegraph to AI

Copyright © HT Digital Streams Limit all rights reserved. Kenneth G. Pringle, The Wall Street Journal 11 min Read 29 Sept 2025, 07:14 AM ist as high-frequency trading with minimal supervision of man can theoretically eliminate the human element. (Pixabay) Summary In the early days of the country, each city operated its own financial business. Here are the most important innovations that have changed everything. The Buttonwood Agreement that started the New York Stock Exchange-a single, handwritten page cone no longer low-tech. Since that document was signed on May 17, 1792, by 24 stockbrokers who regularly under a Buttonwood tree outside 68 Wall St. did business, the financial markets eagerly seized new technologies. The acceptance of revolutionary progress such as the telegraph and artificial intelligence is driven by two entangled desires: the need for more speed to transfer orders and data, and the need for more investors to finance an ever -growing economy. Here are nine technological advances that have contributed to investing from a private club of two dozen in something of a national pastime. Nearly two-thirds of the American adults report today owning shares, and trade can be done on computers, smartphones and under any Buttonwood tree. 1. Electric telegraph how stock quotes were sent out in 1913: Telegraph operators enter transaction data on a circular print button, which activates the pressure wheels of ticks in subscribers’ offices. In the earliest years of the country, a largely agrarian society where things moved at the best velocity of a horse, each city operated its own financial enterprise, as it was. With four words – “What did God do!” – Samuel Morse sent the first working electric telegraph wire in 1844, and helped change the status quo, and helped Catapult New York to get a leading position. ‘Business finally woke up to the potential of such devices,’ writes historian Robert Sobel in ‘The Big Board: A History of the New York’s Stock Market’. With Wall Street’s support, Morse has the Magnetic Telegraph Co. formed to run a line from New York to Philadelphia. Among the first customers were traders. Now Wall Street prices can be quoted in Philadelphia the same day, and soon in Boston, Buffalo and West to the Mississippi, while the Telegraph has covered the country like a Spider web. ‘At the end of the [1850s] Wall Street was linked to every important American city and set prizes for everyone, “Sobel writes.” Wall Street has become the market for the country. “But if Wall Street were to be America’s financial market, it needed a faster way than the horse to exchange physically money and certificates. phenomenon of Wall Street, “Michael Hiltzik writes in” Iron Empires: Robber Barons, Railroads and the Making of America. “Nation each has more than 2400 individuals owning shares. While the Telegraph and Railroad Innovations were intended for general use, the stock card specifically designed for trading in the band of the band of the band of the plate of the tire that printed in almost right time. Insiders could be credited in 1863. quickly. “If I’m over 5,000 of these ‘tickers’, Miller wrote:’ You can form an idea of ​​the scope of the business. ‘[F]Rom one hundred windows began to pull out the coils of the band that records the fatal messages of the ‘Ticker’, ‘the article says.’ It was a new celebration of Wall Street. ‘The ticker remained an indispensable investment tool in the 1970s, but the Ticker-Tape Parade exceeded it. This – Kidder, Peabody & Co. – The following great innovation has changed: the phone. & Telegraph has a “constant and increasing need for capital, which could be much greater than can be obtained from its traditional sources,” Vincent Carosso writes in “More than a century of investment banking: The Kidder, Peabody & Co. Story.” In 1906, confronted with a $ 150 million post, Kidder Peabody called and a syndicate by JP Morgan & Co., Kuhn, Loeb & Co. and Britain’s Barings Bank arranged. in 1920 in the financial district. This is a good technological change in New York, 1979, while giving “Wall Street” a modern look, the degree of a modern look in New York, while the Ticks was Joaquin, printed in 1880, but the Ticks Joaquin has the biggest techniques of the tabletop that was a good technological change. The ticker’s data on a computer screen. Acquisition, which the Wall Street Journal called “The Boldest Business Move” in John S. Reed’s annual plate as Citi chairman. System-Nasdaq-was launched on February 8, 1971. Association of America, according to the Wall Street Journal, on April 5, 1971. ‘The thought is a little fantastic.’ Adapted by the open-cry system that was the iconic symbol. was to create a trade floor that was 3,000 miles long and 2,000 miles wide. “Nasdaq has created the virtual trade floor, and it will soon be populated by millions. 7. Online investment platforms The newspaper ad, from 1996, contains a man who signs up on his home computer to trade shares.” Your broker is not compared. Since E*Trade has offered discounts on the internet internet for the first time, as Reuters put it, most investors do their own trade, without the help of a professional. IL -Broker will charge about $ 25 for similar trades, Barron’s magazine suggested. Since then, the growth of online trade has brought competitors such as Charles Schwab and TD Ameritrade and newer programs, including Robinhood and Webull, and driven the industry to a zero commission model. Instead of standing 20 deeply at a ticker, everyone is snapped at their own devices, gets quotes as well as analysis and advice, trading on their lunch or on a beach holiday. And if they have a broker, he probably trades on his smartphone. 8. High-frequency trading Nobody was ready for the May 6, 2010 flash accident, a “disturbing five-minute sales” that sent the market to a drop of nearly 1,000 points, or about 9%. “It happened so fast, it was like a torpedo,” one market participant told the Wall Street Journal. With no clear news for the accident, the suspicion immediately fell on high-frequency trading firms, of which the computer-driven algorithms, according to the Journal, constitute two-thirds of the overall market activity. However, exactly what high-frequency trade did to cause the accident was not sure. This is because people only serve in a kind of supervisory role, set the trading parameters and then make the algorithms the buying and selling against computer speeds. In 2015, the Department of Justice blamed the flash accident on a single British trader for ‘spoofing’, or to place orders for the purpose of canceling them before filling it. For many, this was not a satisfactory conclusion. ‘[B]To one trader who worked from his parents’ home outside London because he caused a trillion dollar stock market accident is a bit like blaming lightning to start a fire, “the magazine Traders wrote. The so -called circuit breakers, which trade in volatile problems stop trading strategies against lightning, all without human input.[O]Ur thematic robotic instrument, “Blackrock wrote last year,” mixes human insight with the power of major language models and big data to build stock baskets with greater efficiency and width of exposure. “Such vague marketing sermons are still the norm because we are scratching the surface of the AI’s ability. Investment managers are currently using AI in their trading processes. Historian, writes the Barron’s magazine back story function.