How the Trading Floor Really Works

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Trading floors have always fascinated people, but few understand the role they play in the world of finance today. Given the recent financial crisis, it is more important than ever to understand not only what role banks play in financial markets, but why they take risk and how it all goes wrong.  This book demystifies the trading floor and financial markets using simple examples, real words and lots of true anecdotes.

Foreword by Gillian Tett of the FT and best-selling author of Fool’s Gold.


The culture and practise of trading floors have had a profound impact on all our lives over the past generation. In How the Trading Floor Really Works Terri Duhon communicates a clear understanding of the diverse characters and esoteric practises of “the floor” and shares the insights that enabled her to thrive in this enervating culture. I know many people who currently work on trading floors in London, New York and beyond who will find techniques in this book which will help them become more effective. I can think of no one better placed than Terri to the sequel “How the Trading Floor Should Work”.
— Tim Frost, former Managing Director JPMorgan, Director Cairn Capital
Written in a lively and digestible style, this clear and cogent book covers much more than the title suggests. In fact the book lays out much of the banking industry’s critical role in financial markets; the basic differences between various classes of financial instruments; and how trading businesses interact with other parts of a large complex financial institution. Not only for students and post-grads interested in financial markets, this book would be a great primer for anyone entering or working in a related field, such as clients, journalists, regulators, consultants and policy-makers. The vignettes and examples the author uses bring relevance and humour to this technical subject, as well as capturing the trading floor environment
— Betsy Gile, Board Member Deutsche Bank Trust Corporation, Keycorp Bank
How the Trading Floor Really Works is an invaluable resource for current MBAs, recent graduates and experienced financial market participants alike. For the novice about to join the trading floor ranks, it provides a base framework for understanding the world they are entering. For the investment banker, investor, portfolio manager or other financial expert who doesn’t work on the trading floor, it demystifies the “black box” of the trading floor in an entertaining yet informative way.
— Dr Susan S. Fleming, Senior Lecturer, Johnson Graduate School of Management/ Cornell University/ Former Partner, Capital Z Partners, LP
An easy and enjoyable read – even for somebody who has been on a trading floor for over 20 years. I learned a lot reading it. It has the balance of expertise written in an easy style with real examples – a valuable book for market professionals and also participants.
— Addy Loudiadis, GS Partner and founder of Rothsay