Office spaces for finance companies and the trading sector have changed drastically over the years. Their development has been mostly due to the advent of emerging technologies. It is useful for company managers to understand the history of these workspaces, as it will help them prepare for the future of the industry.
At the start of the 20th-century, financial institutions used telephones and teleprinters to acquire quotes. These would be printed on a ticker tape. Offices needed to be spacious enough to accommodate cumbersome machines and a large number of print outs.
This problem was recognised as early as the 1920s. A system was developed for projecting ticker tape onto a screen. The 1950s saw the emergence of electro-mechanical boards which displayed important trade information.
Throughout the 1960s, work stations would often be overcrowded with phones. This was so that traders could communicate with different brokers at the same time. One of the most critical factors in trading is knowing new information in real-time. There was a push to create new technology which would make this a reality.
The advent of affordable digital tech helped to make workspaces much more manageable and efficient. Digital readout displays eliminated the need for print outs and gave real-time updates. As hardware became smaller, the required desk space was reduced.
In modern times, financial and trading information is accessed via the internet. Therefore, an excellent online connection is essential for all trade offices. There was a transitional period when several institutions invested heavily in alternative information tech such as cable. Once the internet became cheaper, these investments were shown to be unwise. Modern company managers should learn from these mistakes in the past. It is essential to look ahead and remember that new technological innovations could be just around the corner.