LIFFE
Technique
Hand moving back and forth horizontally just slightly below waist. Click on "How-to" button above for illustration.
Origin
Use of the cock in the firm's name to indicate wanking motion.
Brokerage - Babcock & Brown
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The ability to recognize all market participants was what made open outcry trading transparent and from this, signals were developed for the larger brokerages and for some large local traders. In cases where a more universal signal was never developed, their hand signal in the pit would simply be their three digit firm number