Word: brokering
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...Honest Broker. Ayub stoutly maintains that his cozying up to Red China will not damage U.S. interests in Asia. "For your sakes we stuck our necks out on every bloody occasion," the Sandhurst-trained ex-soldier told recent American visitors. "You can say we damned well had to because you were giving us aid. But our security is important too. Merely because you are not on friendly terms with China, you expect all your friends to do likewise...
...pick up the mantle of leadership in nonaligned Asia, which has been unclaimed since India's lawaharlal Nehru died. His Peking visit-in addition to gaining further Chinese support against India-was aimed at building that image. And in the next few weeks, the would-be "honest broker" hopes to boost it further: on the Ayub agenda are trips to Moscow and Washington...
...Brooklyn-born son of a mortgage broker, DiLorenzo made his first deal at 17. He borrowed $1,100 to buy a brownstone, which he sold for $3,000. In 1951 he teamed with Goldman, a boyhood pal who was running a wholesale grocery for his ailing father, to buy a 600-unit apartment. DiLorenzo considers it merely "human nature" that his rapid rise led the Government to scrutinize his activities a few years ago. "I had four FBI men following me for some time," he says with a smile. "But they dropped the investigations." Now DiLorenzo and Goldman...
With the new IBM Market Data System, the process will be this: when an .investor calls in to ask for a stock quote, the broker can press a button on the base of his telephone and automatically connect into a computer at the exchange. He will then dial a four-digit number to identify which stock he wants to learn about (each of the 1,606 stocks on the Big Board has its own identification number). A recorded voice will instantaneously recite the stock's up-to-the-second price and volume, as well as its opening price...
...only of the growing use of computers in American business but of the increasing automation in the stock market. Funston also hopes to automate trading in odd lots-fewer than 100 shares-which account for one-fifth of daily volume. When an investor places a small order, the broker will feed the information into a computer, which will execute the order at prices ⅛ to ¼ of a point above (buying) or below (selling) the most recent round-lot trade...