In global spot trading, talk sustains order rather than negotiating outcomes.

Evidence

The conversational turbulence and repair shows how the conventions of global conduct are interactionally upheld. Note again that, unlike other exchange situations, interactional means play no role here in the establishment and negotiating of situational outcomes, for example, price or buying commitments. Rather, they are used to manage and sustain a global order—through a variety of means of the sort indicated, which include overtly stating that one is noting someone’s misbehavior or asserting the break off of the business relationship. It is this structural, rather than situational, deployment of interactional means for the maintenance of a social form that we want to introduce as another aspect of global microstructures. This deployment occurs in a domain where legal sanctions are almost entirely unavailable and would be considered inefficient by participants. — Karin Knorr Cetina & Urs Bruegger, Global Microstructures, 124

Categorization

• XREF: Connects to ethnographies of screen-based dealing rooms and the sociology of repair in interaction (e.g., ethnomethodology / conversation analysis of repair sequences), central to the reader’s finance ethnography canon. — connects to: Conversation itself is the instrument of global interbank exchange. — Karin Knorr Cetina & Urs Bruegger, Global Microstructures: The Virtual…, 102; Screen-based trading conversations forbid price negotiation entirely. — Karin Knorr Cetina & Urs Bruegger, Global Microstructures: The Virtual…, 114; Market conversations do not merely transmit information but perform the economic action itself — Karin Knorr Cetina & Urs Bruegger, Global Microstructures: The Virtual…, 29 (+2 more)
• DEEPTHINKING: The claim that interactional repair is deployed structurally, not situationally, and that it substitutes for legal sanction in an anomic domain, is a genuinely dense idea worth sitting with.

Related

• Market conversations do not convey information but perform trades. (similarity 0.86)
• Conversation itself is the instrument of global interbank exchange. (similarity 0.84)
• Screen-based trading conversations forbid price negotiation entirely. (similarity 0.78)

Broader Connections

• Market conversations do not merely transmit information but perform the economic action itself #expands (0.85) — Karin Knorr Cetina & Urs Bruegger, Global Microstructures, 29
• Currency trading conversations unfold as challenge-engagement-repositioning sequences #exemplifies (0.82) — Karin Knorr Cetina & Urs Bruegger, Global Microstructures, 108