Section
Voice in the markets
The conversations that still move prices, and the people on each end.
Electronic order books handle most trading by count, but size, oddity and relationships keep a share of the business on the phone. How voice trading desks still work walks through the equipment and the habits of a voice desk. What transcription changed for trade surveillance follows those calls after they are recorded, once software turned them into text a compliance team can search.
The section also reaches the retail side. A 2026 piece looks at trading by small investors in Spain, what the regulator there has said about leveraged products and social media promoters, and why money that has to be paid back does not belong in a trading account.
Newest first
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How voice trading desks still work
Turrets, private wires, the squawk box and the voice broker: how trades are still agreed by phone, and why voice survives in large and unusual deals.
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Voice on the record, and never borrow to win it back
Why European brokers must record client calls, what Spain's CNMV says about CFDs and finfluencers, and why borrowed money never belongs in a trading account.
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What transcription changed for trade surveillance
Firms recorded every trading call for years and listened to almost none. Automatic transcription put voice into the same review as chat, with new limits.
