The stock ticker was a paper tape used in stock ticker machines to provide real-time stock market fluctuations. It was replaced by digital tickers, and the Edison alphanumeric code is still used today. Ticker tape parades were popular in urban centers.
The ticker tape is a thin paper tape once used in stock ticker machines, which provided a continuous printout of stock market fluctuations. Today, stock ticker machines have largely been replaced by digital “tickers” on websites, TV news, or LED screens. The ticker tape machine, invented in 1867, allowed people to view stock quotes in something close to real time.
Before the stock ticker, stock prices were given by hand, usually just in a daily summary. Because stock prices are constantly fluctuating, being aware of them in real time offers significant benefits to investors and traders.
The stock ticker was, in a way, the precursor to the modern computer printer. The textual information was transported through the cables to the teletype machine to be printed on teletype tape. In early models, the information conveyed to the stock ticker was written in Morse code, but in 1869, Thomas Edison developed an alphanumeric system for conveying stock information.
Alphanumeric symbols were used, codes that indicate the different companies listed on the stock market, along with numerical indicators of current share prices. A special typewriter was used to enter the information, which was transmitted by telegraph to standard teletype machines and printed on teletype tape.
The principle behind the Edison alphanumeric code is still used in modern stock information, although the ticker symbols have been standardized and updated. Also, many tickers now use color coding (green, red, and blue or white) so that one can see at a glance if each company has gained or lost stock points or has remained stable, respectively. The stock ticker became obsolete with the advent of the Internet and on-screen digital displays. Although the stock ticker was an immense improvement over the manual delivery of stock quotes, it didn’t work in real time until 1996, with earlier models running at least 15 to 20 minutes behind schedule.
In the days of ticker tape, old prints were often shredded to make a type of confetti that could be thrown from office windows during street parades. This practice, common in Manhattan, New York, and other urban centers, became known as a “ticker-tape parade.” Parades of ticker tapes still exist, though other shredded office documents now serve as confetti.
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