Location, Ownership, and History
- The New York Stock Exchange (NYSE) is located in the Financial District of Lower Manhattan in New York City.
- It is the largest stock exchange in the world by market capitalization.
- The NYSE trading floor is located at the New York Stock Exchange Building on 11 Wall Street and 18 Broad Street.
- The NYSE is owned by Intercontinental Exchange, an American holding company.
- Previously, it was part of NYSE Euronext, formed by the NYSE's 2007 merger with Euronext.
- The earliest recorded organization of securities trading in New York can be traced back to the Buttonwood Agreement in 1792.
- The Bank of North America, First Bank of the United States, and Bank of New York were the first shares traded on the NYSE.
- In 1864, the Open Board of Stock Brokers was established as a competitor to the NYSE and later merged with it in 1869.
- The NYSE experienced rapid growth in securities trading in the latter half of the 19th century.
- Securities trade in the 19th and early 20th centuries was prone to panics and crashes, leading to government regulation.
Notable Events
- The NYSE partially closed during World War I but reopened for stock trading in mid-December 1914.
- The Wall Street bombing occurred outside the NYSE building on September 16, 1920.
- The Black Thursday crash on October 24, 1929, and subsequent sell-off panic are often blamed for precipitating the Great Depression.
- In 1934, the NYSE was registered as a national securities exchange with the U.S. Securities and Exchange Commission.
- Abbie Hoffman led a Yippie movement stunt at the NYSE in 1967, where dollars were thrown towards the trading floor.
Merger and Expansion
- On April 21, 2005, the NYSE announced plans to merge with Archipelago and became a publicly traded company in 2006.
- The NYSE Group completed its merger with Euronext in 2007, forming NYSE Euronext, the first transatlantic stock exchange.
- Wall Street is the leading U.S. money center for international financial activities and wholesale financial services.
- Prior to the acquisition by Intercontinental Exchange in 2013, Marsh Carter was the Chairman of the NYSE.
- In 2016, NYSE owner Intercontinental Exchange Inc. earned $419 million in listings-related revenues.
Importance and Influence
- The NYSE is a significant player in the global financial market.
- It provides superior liquidity and attracts buyers, sellers, and dealers.
- The NYSE's reputation for providing liquidity helps maintain a large number of orders flowing.
- The NYSE is a key component of Wall Street, the foremost U.S. location for wholesale financial services.
- The NYSE has implemented rules to protect shareholder interests, such as restrictions on brokers voting uninstructed shares.
Trading and Trading Curbs
- NYSE open for trading Monday through Friday from 9:30am – 4:00pm ET.
- Continuous auction format for stock transactions.
- Traders gather around appropriate post where specialist broker acts as auctioneer.
- Auction process moved toward automation in 1995 with wireless handheld computers.
- All NYSE stocks can be traded electronically via hybrid market.
- NYSE implemented trading curbs following Black Monday market crash in 1987.
- Circuit breaker levels set at 7%, 13%, and 20% of average closing price of S&P 500.
- Level 1 and Level 2 declines result in 15-minute trading halt.
- Level 3 decline results in trading being suspended for the day.
- NYSE works with regulators to coordinate risk management measures.
The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is the largest stock exchange in the world by market capitalization.
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| Type | Stock exchange |
|---|---|
| Location | New York City, New York, U.S. |
| Coordinates | 40°42′25″N 74°00′40″W / 40.707°N 74.011°W |
| Founded | May 17, 1792 |
| Owner | Intercontinental Exchange |
| Key people |
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| Currency | United States dollar |
| No. of listings | 2,400 |
| Market cap | US$22.649 trillion (Jan 2023) |
| Indices | |
| Website | nyse.com  |
The NYSE trading floor is located at the New York Stock Exchange Building on 11 Wall Street and 18 Broad Street and is a National Historic Landmark. A previous trading room, at 30 Broad Street, was closed in February 2007.
The NYSE is owned by Intercontinental Exchange, an American holding company that it also lists (NYSE: ICE). Previously, it was part of NYSE Euronext (NYX), which was formed by the NYSE's 2007 merger with Euronext. According to a Gallup poll conducted in 2022, approximately 58% of American adults reported having money invested in the stock market, either through individual stocks, mutual funds, or retirement accounts.
