Trading Turret

A trading turret or a dealing board is a specialized telephony key system traders use on their trading desks. A trading turret has several functions and capabilities designed specifically for financial traders.


A trading turret is a specialized telephony key system used in financial institutions for placing and receiving orders for stocks, bonds, and other securities. It allows traders to have rapid, simultaneous access to multiple lines and exchanges and provides them with the hands-free operation to execute trades quickly. Trading turrets enable traders to communicate with each other and with other departments within the financial institution as swiftly and efficiently as possible. 

Trader at desk

Trading turrets provide an efficient way for traders to collaborate and make informed decisions about their investments. They are an essential part of a trader's toolkit and can give them a significant advantage in fast-paced markets.

Difference Between A Regular Phone System And A Trading Turret

A normal phone system is used for basic communication needs such as talking to friends and family, making appointments, etc. A trading turret is a specialized phone system for financial or stock market transactions with dozens of speed dial buttons for quick access. 

The main difference between a normal phone system and a trading turret is that a trading turret has additional features that are specifically designed for traders, such as the ability to place multiple calls at once and conference call capabilities. Trading turrets also typically have more than one line, which can be helpful if you are dealing with multiple clients simultaneously. Additionally, many trading turrets offer voice recognition software, which can help speed up the process of placing trades. 

Rise Of Electronic Trading Platforms

The early days of electronic trading were marked by a great deal of uncertainty and volatility. The rise of electronic trading ushered in a new era for the stock market, and trading turrets were one of the many casualties of this change.

Trading turrets were once a staple of the stock market, but they have gradually been phased out in favor of electronic trading platforms. This shift has largely been driven by the increasing popularity of high-frequency trading, made possible by electronic trading platforms.

High-frequency traders rely on speed and liquidity to make money, and traditional trading turrets can't compete with the speed and efficiency of electronic trading platforms. As a result, many high-frequency traders have abandoned trading turrets in favor of electronic platforms.

This shift has significantly impacted the stock market, leading to a decline in the use of trading turrets. Trading turrets are no longer essential for trading stocks, leading to a decline in popularity.

Despite the rise of all-digital trading platforms, some traders still use trading turrets to place orders like NASDAQ

About the author

Ziga Breznik is the owner and head of research at – he is an active investor in the forex, crypto and stock markets – he has seen trading platforms disappear along with his investments – especially during the “crypto boom”. Ziga learned the hard way that finding a reputable and trustworthy online brokerage is key to long-term success in the financial markets. He founded as a platform where he shares his research with one goal in mind: to provide unbiased and trustworthy online brokers reviews.