A ticker-tape parade is a parade event, held in a downtown urban setting, allowing the jettison of large amounts of shredded paper products from nearby office buildings onto the parade route, creating a triumphal effect by the snowstorm-like flurry.
The term originated in New York City after a spontaneous celebration held on October 29, 1886 during the dedication of the Statue of Liberty and is still most closely associated with New York City. The term ticker-tape referred originally to the use of the paper output of ticker tape machines, which were remotely-driven devices used in brokerages to provide updated stock market quotes. Nowadays, the paper products are largely waste office paper that have been cut using conventional shredders. The city also distributes paper confetti.
In New York City, ticker-tape parades are not annual events but are reserved for special occasions. Soon after the first such parade in 1886, city officials realized the utility of such events and began to hold them on triumphal occasions, for extraordinary events, and to honor heads of state.