Telegraph machine ticker

The telegraphic ticker, invented in 1867, revolutionized the transmission of financial quotes and real-time news in the 19th century.

About this subject

The telegraphic ticker was invented by Edward A. Calahan, an employee of the American Telegraph Company, in 1867. The device allowed stock quotes to be transmitted via telegraph and printed on a paper tape, replacing the slow messenger system. The machine used a special character code (similar to Morse code but adapted) and triggered a printing mechanism that engraved letters and numbers onto the tape. The name "ticker" comes from the clicking sound the machine made while printing.

The first installation took place at the New York Stock Exchange (NYSE). Quickly, the ticker spread to other exchanges and brokerage offices, enabling investors to track prices almost instantaneously. Before it, information took hours or days to arrive. The ticker was also used for general news, such as sports results and breaking bulletins.

By the 1930s, the electromechanical ticker began to be replaced by faster electronic devices. The last mechanical ticker was decommissioned at the NYSE in 1964. Despite this, the term "ticker" remained in financial vocabulary, now referring to a stock's symbol. The ticker tape also inspired the famous "ticker tape parade," a New York tradition where shredded paper is thrown from windows, harking back to this technology.

Frequently Asked Questions

How did the telegraphic ticker work?

The ticker received coded electrical signals through telegraph wires, which activated a printing mechanism. A paper roll passed under a hammer that printed letters and numbers according to the received code.

Who invented the telegraphic ticker?

The ticker was invented by Edward A. Calahan in 1867, an employee of the American Telegraph Company.

What replaced the mechanical ticker?

Starting in the 1930s, faster electronic devices, such as the electronic ticker and later digital systems, replaced the mechanical one. The last mechanical ticker at the NYSE was decommissioned in 1964.