00:00I've traded tin zinc
00:30aluminum and now I'm on to copper for 20-21 years. So the market was entirely open
00:35outcry. So this would be, this pit would be full of 22 brokers, 300 people, huge wall
00:43of noise so you could barely hear yourself think. After six months being down here I
00:49worked, I eventually got an idea of what was going on. Still very noisy and then
00:55by the end of it by now I can tell people's voices. I know who's doing what
00:59even without looking at them.
01:06It was open outcry for the first six years of my career and then it went to screen trading as well as open outcry.
01:21So you're trading online on a computer as well as trading down here. And we used to trade two sessions in the morning, two in the afternoon plus a PM session. But as of now, since COVID, it's been reduced to one official session during the day.
02:06This is antiquated. This is a very old fashioned way of trading. But it still works. It still
02:13works very well. It won't be here forever. It will be replaced with the online trading system.
02:20But we found out that this is a very, it keeps the regulators happy. It's very physical. You can see how much you've traded.
02:27You can see, you can hear how much people are doing, what they're doing. Everything's recorded. Online has taken over the rest of the world.
02:35This won't stay here forever. But for the moment, we're still here.
02:39This is an aluminum alloy.
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