This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Bartiromo May Not Know It, But Internet Killed the Cable-TV Star

It may seem strange that someone who works for Jim Cramer might be writing this. But the TV audience for business and investing has never been that large. In normal times, it shouldn't be. There's a 50-50 chance that the audience for this story alone will be bigger than Fox Business Network's daytime ratings in the demo.

The Bartiromo story probably says more about Wall Street than it does about TV, because Wall Street has a dirty little secret. The stock exchange is basically a false front. The trading floor itself is little more than a TV studio, and all those people in suits wandering around it are basically extras.

The real work of Wall Street happens in computers, far away from any exchange floor. Intercontinental Exchange (ICE), the Atlanta-based trading company that completed its acquisition of the New York Stock Exchange last week, has its main CoLocation computing center in Chicago. The NYSE maintains a large data center in New Jersey. 

And stocks are actually a small part of the business. ICE itself was formed in 2000 to trade contracts in energy, and then expanded into other commodities, buying the New York Board of Trade in 2007. As I've written before, the markets are all just transaction processing. 

In the cloud computing era, a data center can be anywhere. In the age of the Internet, its trades are cached just about everywhere. The real action happens on your side of this screen, and on millions of screens like it, all around the world.

When it comes to investments, you're the star. You're where the action is. The rest of us are trying to follow you, figure you out, anticipate your next move.

If financial news is a telescope, it's facing the wrong way.

At the time of publication the author owned no stock in companies mentioned in this article.

This article was written by an independent contributor, separate from TheStreet's regular news coverage.

2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
AAPL $132.84 0.14%
FB $81.38 -0.64%
GOOG $554.63 -0.13%
TSLA $233.10 0.67%
YHOO $44.53 0.38%


DOW 18,106.10 +68.13 0.38%
S&P 500 2,113.27 +4.35 0.21%
NASDAQ 5,068.2760 +8.03 0.16%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs