Alex Berenson Orders Quotations

On the New York Stock Exchange, all buy and sell orders are routed through a single 'specialist,' guaranteeing that most small trades can be matched directly. But most larger trades are delivered to the specialist on the floor of the exchange by human brokers, a system that big investors view as increasingly inefficient.

Big companies, which spend tens of billions of dollars annually on 'call centers' to take orders and provide customer support, increasingly rely on speech recognition not just to handle requests for information but to process customer orders.