I was recently (out for a rip) in Toronto so it was a good opportunity to bring along and finally read The Last Trade by John William Yee which profiled a few dozen people who worked on the floor of the Toronto Stock Exchange in it’s waning days leading up to THE last trade in April 1997. This book didn’t just focus on the market makers, brokers and assorted traders, but also captured the perspectives of various support staff such as key punchers, clerks and even the guy who swept the floor. The Last Trade rarely has interviews of significant depth but the book chronicles the broad perspective of various human elements across an entire trading floor as it approached full automation.
Until reading this book, I was unaware that a small futures trading pit of the Toronto Futures Exchange also shared the same floor as the Toronto Stock Exchange. Previously, I believed that the only Canadian futures trading pits were in Montreal and Winnipeg. As you might imagine, the futures guys who were interviewed in the book are an entirely different breed from the equity guys.
For all those who worked on the Toronto floor in that era, I don’t know what would bring back more nostalgia, the shared experience of the trading floor of the amazing Leafs team of the mid 90s.