The data that makes the markets move either up or down every day is entered into the system by pit reporters. These are people who work for the CME and sit on a platform in blue jackets in front of computers. This information is then displayed along the floor, and thus delivered all over the world. There is an entire process that precedes this as a way to minimize human error and ensure accuracy. It is the responsibility of trade checkers to act as insurance for both traders, the firms they trade for, as well as the exchange.
A trade checkers job begins by picking up a card that contains a filled order from the broker on the step or the step clerk, and relaying the information to the customer they filled the order for. The trade checker approaches either the buyer or seller, repeats the order, and then circles it when both parties confirm the quantity and price are both correct. After this, the duplicate carbon copy is held onto by the trade checker for reference purposes. The original is then time stamped and reviewed to make sure that the correct bracket is written on there for when the order was placed. This is so the CME can ensure that trades are being entered in a timely fashion, thus keeping the market totals up to date. It is also important to include this information, because if there is a discrepancy the fifteen minute increment that the trade occurred in can be pulled up and reviewed by security footage.
While I was shadowing a trade checker, she showed me how you can look up a particular put or call on a CME portal that is accessible to all. Lastly, a trade checker must be sure that they include all of the necessary information because a firm can be fined for not indicating such details. It is not an easy job from what I have seen, because traders are under time constraints and especially when they have money on the line they can at times become testy. Therefore, it is imperative to keep your cool under pressure.
-Taylor Maid Trades