Discussion in 'Order Execution' started by daytrader06, Nov 9, 2006.
Technically, what is IOI(indication of interesting)?
Floor traders at each exchange give every stock a numeric grade based on how interesting the company is. At the end of the day the stock that has the most votes recieves 2 extra points. Proprietary Traders who are long that stock receive the extra points. All they have to do is contact the exchange and ask for the points. In addition to the extra points, they are awarded a traditional pastrami sandwich and a beanie cap with a propeller on the top that they must wear all during the next trading day. It is a very prestigious award similar to winning a major sports championship. At the big brokerage houses like Goldman Sachs, Merrill, or Citigroup, the lucky trader who wears the championship beanie is awarded the most luxourious office and has lunch delivered to him by beautiful young women. Finally it is not uncommon to see the winner interviewed on MSNBC, propeller spinning in the breeze, and a big smile on their face..It is truly a "once in a lifetime event".
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