This stock exchange is at the 11 Wall Street in Manhattan in New York City. It is the world's largest stock exchange by the market companies it has. It's gone a long way from 1792 to now.
The New York Stock Exchange started in May 17, 1792 when a contract was signed by 24 stock brokers outside of Wall Street. On March 8, 1817, the group made a formation and renamed the exchange the "New York Stock and Exchange Board". Anthony Stockholm was the exchange's first president. The first location for the exchange was a room rented in 1817 for 200 dollars a month. But when the place was destroyed in the "Great Fire of New York" in 1835 the exchange had to move to an alternate headquarters. In 1863, the New York Stock and Exchange Board change its name to "The New York Stock Exchange" and moved to 10-12 Broad Street in 1865.
The amount of stocks gone up between 1896 and 1901 and a larger place was due for the growing business. 8 architects were invited to take part in a design competition for a new building. The Exchange chose a design submitted by George B. Post. Then they destroyed the old building. The new building opened in 1903, was located in 18 Broad Street and cost about 4 million dollars. It was one of the biggest buildings in New York City at the time. The building was a historical landmark. In 1922 a building for offices was also added as well as a new trading place called the Garage and was located at 11 Broad Street. More trading space was added and included the latest technology for information display and communication.
The New York Stock Exchange, also known as the "Big Board", provides a method for buyers and sellers of stock to trade in the trading areas of the company. The New York Stock Exchange is open Monday through Friday between 9:30 am and 4:00 pm except on some holidays that the exchange will announce in advance.
On the trading floor of the New York Stock Exchange building there is a place where the NYSE can trade in a continuous auction and where traders can execute stock transactions on the behalf of the investors. They have an auctioneer who is not in the NYSE staff who brings buyers and sellers together for an actual auction.
In January 24, 2007 all the NYSE stocks could be traded via through an electronic Hybrid Market except for a tiny group of very highly priced stock. Customers could now send orders for electronic execution immediately. In only the first three months of the year 2007 82 percent of all orders was delivered to the floor electronically.
The New York Stock Exchange's technologies are the world's leading provider for electronic trading solutions. Their flexible products deliver strong and combined solutions, from single trading positions to complete exchange platforms. A recent technology of their company is called the "Super Book". The "Super Book" is a collected order book that makes a compound view of available liquidity.
The New York Stock Exchange can be thought of as a supermarket for stocks as popular as Wal-Mart. The New York Stock Exchange can also be thought of as a big room where everyone buys and sells stock. The New York Stock Exchange is very convenient than going to every stock exchange to see if they have the stock you would like to buy. This is why it is very big and sometimes used electronically so it is a big success. Even to buy stock you do not have to go all the way to New York to buy or sell stock. You can call a stock broker that works with the New York Stock Exchange and the stock broker will go and buy or sell the stock on your account. If the New York Stock Exchange did not exist buying and selling stock would be a lot more difficult. Instead you would have to place an ad in the newspaper and wait for a call. The New York Stock Exchange made life so much easier.
The New York Stock Exchange has a cool side effect that allows the stock price to be known every single second of the day. This happens because all of the buying and selling of stock is concentrated in one place. This means that investors can watch as a stock price increases and decreases by the news of the company, media news, economic networks and lots of other places. Buyers and sellers take all these factors into reason as they wait to buy or sell at the right time.
The New York Stock Exchange makes money by charging a lot of fees for various services all of these include floor clerks, badges, phone numbers, signature guarantees, remote access ($10k), bond transactions, data regarding pricing, and even more. Major additional fees include 40 thousand dollar per trading license and 8 million dollars for floor trading fees.
The New York Stock Exchange has been through a lot of history, technology and money to build the stock exchange it is today. The Exchange has gone from twenty - four stock brokers to thousands all around the world. This Exchange has expanded so much that our brain can not even imagine the possibilities it might be able to go through twenty, fifty, or a hundred years from now. The New York Stock Exchange goes through today and continues tomorrow.
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