A little piece of history
If you are new to the Game, you will have discovered that trading online is almost immediate.
So, how did it happen prior to fast world of the internet?
Initially trading took place using a call system (1861 to 1961). Using this system a reader called the names of each company and brokers made a bid or offer. Stocks were called 3 times a day. This system was limited as the market was only open for a very short period each day and there were far fewer companies listed on the market back then. Watch this video - to see how it all worked. (Please note the videos may take a minute or two to download)
In the 1960s trading changed to a post system (1961 to 1990) where 'chalkies' wrote bids and offers continuously in chalk on blackboards, as operators who worked for brokers called out orders. All of this made for a very noisy trading floor. Watch the chalkies in action and see how it all happened.
With the post system everything that was written on the boards was also typed into a price reporting system. The limitation was that during busy times there could be quite a delay between changes of prices on the boards and when they appeared on screens via the price reporting systems.
The advantage of the 'post trading' system over the call system was that the market was open for longer - from 10am to noon and from 2 to 3.30pm. Back then there were share markets in each State and prices for the same shares could differ between States.
In 1987 a screen based trading system was introduced and the individual state stock exchanges were combined to form the Australian Stock Exchange. It started with just a limited range of stocks, and slowly all stocks were moved to this system and the trading floors were closed in 1990. Everyone, no matter where they lived could now trade in the same market at the same prices.
So there you have it, a little bit of history - now back to today...
The next Lincoln webinar - Discover the best performing stocks in the Game:
If your Game portfolio isn't tracking as well as you expected, it's not too late to turn your portfolio around. Attend Lincoln's FREE upcoming webinar where Lincoln CEO Elio D'Amato will reveal his shortlist of the best performing stocks in the Game and how you can achieve success by refining your portfolio management techniques.
Register for the webinar on Tuesday, 6 May 2014 where Elio will review:
- The top and bottom performers in the Game to date
- Market trends from the first half of the Game and what to watch out for
- Portfolio management strategies to ensure your portfolio is well-managed and well-diversified for success.
How are you going? We'd love to hear from you. What lessons you have learnt so far, whether it be from a mistake, something you have tried and it is working well or perhaps a book you have found helpful. Email your feedback to email@example.com.
The indices and share price list has been updated for the period 27 Feb - 24 April-(CSV 8KB). Here is the hot & cold stocks list for the week (PDF 20KB) - this will be updated on your Game home page each week.
Rankings: Flow from NSW is still holding strong with a lead now of $3737. In 2nd place is Midas from VIC with a portfolio value of $57,670. And only $499 behind is Roztomily from NSW on $57,171.
The Games Team
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