I am curious how stock markets worked before the advent of computers. Trading today is so fast, I can’t wrap my head around how it could have worked before computers were involved.
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For stock trading, the stock certificates(showing ownership of those stocks) was on paper and had to be physically transferred from the seller to a buyer of the stock. For assisting investors in posting these certificates some stock exchanges had also entered into arrangements with postal services too.
There were problems of wear and tear and risk of forgery of stock certificates and also on the time to complete the transaction.
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