Traders wearing red vests are securities companies or investment institutions stationed in the exchange, also known as "market representatives". Remote self-service transactions were not used in the early days. All customers' trading orders are reported to traders by telephone, and traders knock into the trading mainframe of the exchange to trade.
In the stock exchange, front-line counter employees wear black vests, exchange traders wear red vests and exchange managers wear yellow vests.
The red vest is a trader of a brokerage firm, and the yellow vest is a staff member of the exchange. At that time, this design did not conform to international practice, and it was a red and yellow vest system with China characteristics. In fact, the appearance of red and yellow vests is a misunderstanding and coincidence. At that time, because the lobby of the Shanghai Stock Exchange was cold, if traders wore red, the whole market would be more colorful and the atmosphere would be more dynamic. As a result, when the comrades in charge of clothing went to buy cloth to make vests, they saw that yellow was better than red and decided to buy yellow cloth without authorization. But the yellow cloth didn't meet the requirements, so we had to buy red cloth to make it. When the exchange opened, because several yellow vests had been made, it was temporarily decided that the exchange staff should wear yellow vests. In order to save raw materials after a wrong purchase, the later red and yellow vest was produced. So China is the only stock exchange in the world that wears red and yellow vests.