The pictures most of us have are definitely from the New York Stock Exchange or NYSE of traders in lab-coat looking jackets with big ID letters on the front. In an auction-like environment, these traders control purchases and sales, usually using hand signals, or screaming at the specialist designed to reflect the stock being exchanged. In lower Manhattan, there is a physical building where this takes place every day.You may want to check out Schiller Law Offices for more.
The NASDAQ, which stands for the Electronic Quotation System of the National Association of Securities Dealers, is in contrast. Unlike the NYSE, the NASDAQ (now officially called the NASD for National Securities Dealers Association) is not a physical exchange, although it conducts more than 2 BILLION trades a day.
From Investopedia.com: The NASDAQ is a messaging network between thousands of computers rather than being an auction market. Market makers place their names on a list of buyers and sellers instead of brokers calling out orders, which the NASDAQ then distributes to thousands of other computers in a split second. Your broker can either call a market maker with your trading details or enter your order into a Nasdaq-sponsored online execution system if you want to purchase a stock that trades on the NASDAQ.
Just as in the last 40-50 years, the marketplace for trading corporate shares has come a long way, so has the procedure for legal professionals. The physical room consumed in and for law practises by records is the best observation to look back on. There were actually (and in some cases they remain) whole warehouses overflowing with papers relating to cases that have long been settled, and businesses would stack boxes higher and higher, taking up costly square footage in office buildings, rather than risk throwing away a piece of paper that had testimonials, settlements, signatures, and the like. In the event of a sudden need for a document to be created, many will eventually be resigned to a remote, offsite location where bar code readers and wireless handheld devices could monitor their contents.