MATIF
Technique
Hand grabs lapel of trading jacket.
Origin
N.I.P is short for "Negociateur Independant Parquet" which translates to "Independent Floor Trader."
Brokerage - N.I.P aka Local

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Hand grabs lapel of trading jacket.
N.I.P is short for "Negociateur Independant Parquet" which translates to "Independent Floor Trader."

Hand is held to forehead with index and pinky fingers pointed upward.
Horns of Merrill Lynch's bull logo.

Hands mimic holding saxophone.
Sachs sounds like "sax."

Hands mimics playing guitar.
Jean-Jacques Goldman, France's second-highest-grossing pop singer, played guitar.

Hand held to forehead with fingers extended.
Saluting a general.

Fingers are held to mouth. Trader mimics biting.
Morgan sounds similar to "mords gant" which translates to "biting glove."

Trader mimics biting index finger.
Morgan sounds similar to "mords gant" which translates to "biting glove."

Index and middle fingers are extended upward and held below nose.
Hitler's mustache.

Hand is extended to mimic placing key in lock.
Firm logo contains keys.

Hands are held with fingers extended and brought together at 45-degree angle.
Firm logo contained a roof.

Index and middle fingers extended to form the letter "V."
"V" for Vendome.

Thumb and index finger are extended to form the letter "V."
"V" for Vendome

Hand touches upper back.
ODDO sounds similar to "au dos" which translates as "back."

Hand mimics buckling seat belt.
Seat belt represents "security."

Index finger is extended and pulls back corner of eye.
Firm founded in French Indochine; stereotype of Asian slanted eyes.

Hands mimics holding a steering wheel.
Carr sounds similar to "car."

Hand mimics lifting cup to mouth.
Farmers are known for drinking a lot.

Hands mimic dealing cards.
Meeschaert sounds similar to "mes cartes" which translates to "my cards."

Thumb and index finger are extended to mimic gun held to side of head.
Tullet sounds similar to "tuer" which translates as "to kill."

Index finger is extended and pulls back corner of eye.
Reference to the Tokyo in part of the firm's name.

Hand mimics lifting cup to mouth.
Cholet sounds similar to "chaud laid" which translates as "hot milk."

Index and middle fingers pinch nose.
BZW sounds similar enough to P.U. to indicate a foul smell.

Fingers are curled to form claw.
Lyon sounds similar to "lion."
Participants
The ability to recognize all market participants was what made open outcry trading transparent and from this, signals were developed for the larger brokerages and for some large local traders. In cases where a more universal signal was never developed, their hand signal in the pit would simply be their three digit firm number.