Wall Street's Glass Ceiling Cracks as Specialists Step Back
A rare glimpse into the inner workings of the New York Stock Exchange reveals a shift towards equality.
Anthony Matesic, a 30-year veteran of the trading floor, is among a growing number of specialists who are handing over their posts to women and minorities.
For decades, the specialist system has been a male-dominated bastion. Specialists are responsible for facilitating trades on the floor of the exchange, and they have traditionally wielded significant power and influence. However, in recent years, the Securities and Exchange Commission has taken steps to break up the specialist system, and this has led to a more diverse group of traders on the floor.
Matesic, who is now a senior trading consultant, says he is proud to have played a role in this transformation. "It's been a long time coming," he said. "But it's finally happening." The increasing diversity of the trading floor is a reflection of the changing face of the financial industry as a whole. In recent years, more women and minorities have entered the field, and they are now making their mark in all areas of the business.
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