The stock market automatic radio is the predecessor of a modern computer printer and one of the earliest applications for transmitting text to printing equipment based on printed telegrams via wires. This uses the technology of the telegraph machine recently invented at the time, and its advantage is that the output is a readable text, not the point and stroke of Morse code. Special typewriters designed for operation through telegraph lines are used at the other end of the telegraph line connected to the automatic receiver.
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The text entered on the typewriter is displayed on the automatic transceiver connecting new database the other end. These machines print out a series of stock codes （ which are usually the abbreviated form of the company’s name ）, followed by short information about the company’s stock price; the thin paper bar printed with this information is called the automatic transceiver tape.
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“The word ticker” comes from the obvious knocking sound （ or ticking sound ） issued by the machine during printing. The pulse on the telegraph line gradually rotates the alphabet wheel until the correct symbol is reached and printed. The typical 32 symbol BQB Directory alphabet wheel must turn 15 steps on average to print the next letter, resulting in a very slow printing speed, one character per second. [In 10]1883, the automatic receiver transmitter keyboard is similar to the piano keyboard.
