Before electronic trading ruled everything, the floor had its own language.

On exchanges like the NYSE and CME, traders couldn’t rely on shouting — the noise was overwhelming. So they built a full nonverbal system: hand signals, gestures, and micro-movements that let them execute orders in seconds.

At its peak in the 1990s, more than 10,000 floor traders used this code every day. Some gestures meant “buy,” some meant “sell,” and others dictated price, quantity, or urgency.

It wasn’t just communication — it was survival.

As markets digitized in the 2000s, the pits emptied out. But the old signals never truly disappeared. A few legacy contracts at CME still use them today, and for many traders, this system is a reminder of how physical, chaotic, and human markets used to be.

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Credits: Wall Street, YancyFX (2022).

Edited for educational use. No ownership claimed.

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