The New York Stock Exchange (NYSE)
Situated at the glorious financial hub, Wall Street, the New York Stock Exchange (NYSE) is the premier listing stock exchange. Due to its high listing standards, it is preferred by the world’s leading large- and medium-sized companies.
Here are ten facts about the New York Stock Exchange that you shouldn’t miss.
1. With a market capitalization of US$ 13.39 trillion (as of December 2010), the New York Stock Exchange is the largest stock exchange in the world.
2. It is the most liquid cash equities exchange in the world. The daily trading volume in 2008 was U.S. $153 billion.
3. It is operated by NYSE Euronext.
4. It originally began its operations on May 17, 1792 under a buttonwood tree located outside of 68 Wall Street. The trading agreement, named as the Buttonwood Agreement, was signed by 24 stock brokers.
5. In 1978, the main building of NYSE was designated a National Historic Landmark because of its eventful history. It is strategically located at 18 Broad Street between the corners of Wall Street and Exchange Place.
6. NYSE is known for being the first to launch the best available technology. The Ticker was first launched by NYSE in 1867. Other technological upgrades such as telephones, automated quotation service, radio pagers, electronic ticker display boards, Designated Order Turnaround (DOT) System, Intermarket Trading System (ITS), and Wireless Data System followed in the later decades. The more recent technological systems, namely NYSE Direct+® (launched in the year 2000), NYSE OpenBook (2002) and NYSE Hybrid Market (2005) have been exemplary.
7. Sometimes referred to as ‘the Big Board’, the NYSE operates from Monday through Friday between 9:30 A.M. to 4 P.M. ET.
8. The indexes at the NYSE are NYSE Composite, Dow Jones Industrial Average and S&P 500.
9. The trading takes place in a continuous auction format. The traders, specialist brokers and member firms all work in tandem to execute trades in an open outcry fashion.
10. Currently, most of the NYSE stocks are traded via its high-tech electronic trading system called Hybrid Market.
