New York Stock Exchange (NYSE)
The world's largest stock exchange is the New York Stock Exchange based on the total market capitalization of its listed securities, which was founded in 1792. Many of the oldest publicly traded US companies are listed on the "Big Board," the pseudonym of the New York Stock Exchange. Intercontinental Exchange now owns the New York Stock Exchange, having bought the exchange in 2013.
The New York Stock Exchange (NYSE) is an exchange located in New York City and is the largest stock-based exchange in the world, based on the total market capitalization of its listed securities.
On March 8, 2006, the New York Stock Exchange transformed into a public structure from a private entity, after the acquisition of the Archipelago E-Commerce Exchange.
In 2007, a merger with Euronext (the largest stock exchange in Europe) led to the creation of NYSE Euronext, which it later acquired Intercontinental Exchange Inc. which became the current parent company of the New York Stock Exchange.
New York Stock Exchange concept
The New York Stock Exchange (NYSE) (also known as the "Big Board") is located on Wall Street in New York City, and consists of a trading floor for stocks and another for the NYSE American Options Exchange.
In 1978, the main building at 18 Broad Street and the building at 11 Wall Street were designated as Historic Landmarks.
The New York Stock Exchange is the world's largest stock exchange by market capitalization, valued at $26.64 trillion as of August 2021.
The New York Stock Exchange for many years relied on floor trading only, using the Open Scream system.
On the New York Stock Exchange, many exchange trading electronic systems have been adopted which mainly rely on Designated Market Makers (DMMs) to conduct both physical and automated auctions.
The prices offered by DMMs are on par with those offered by floor traders and other market participants.
Now, the New York Stock Exchange is open for trading Monday through Friday from 9:30 a.m. to 4:00 p.m.
The stock exchange is closed on certain public holidays in the United States.
When a public holiday falls on a Saturday, the New York Stock Exchange is closed on the previous Friday.
When the holiday falls on a Sunday, the New York Stock Exchange may be closed the following Monday.
The opening and closing of the New York Stock Exchange by ringing bells.
The opening and closing bells of the stock exchange indicate the beginning and end of the trading day.
The opening bell rings at 9:30 AM and the closing bell at 4:00 PM, announcing the closing of trading for the day.
The original signal for the trade was actually a hammer.
During the late 19th century, the New York Stock Exchange replaced the hammer with the bell.
In 1903, the bell became the official signal of the exchange, after the New York Stock Exchange moved to 18 Broad Street.
Stock exchange managers were ringing bells before 1995, until corporate CEOs ring the opening and closing bells on a regular basis, which later became a daily occurrence.
CEOs are publicly listed companies, who sometimes appear during marketing events, such as a product launch, new innovation, merger and acquisition.
Sometimes other public figures, such as athletes and celebrities, ring the bell in her honor.
Among the most famous bell ringers are singer and actress Lisa Minnelli, Olympic medalist Michael Phelps, and rapper Snoop Dogg.
The New York Stock Exchange joined the United Nations Sustainable Stock Exchanges initiative, and by the way, the Secretary-General of the United Nations, Ban Ki-moon, rang the closing bell, and this event was in July 2013.
History of the New York Stock Exchange
On May 17, 1792, the New York Stock Exchange was established.
On that day, 24 stockbrokers from New York City signed the Pattonwood Agreement at 68 Wall Street.
Only five securities were traded at the start of the New York Stock Exchange.
In the United States, the New York Stock Exchange is the main stock exchange, so many of the oldest publicly traded companies are located on it.
For example, Consolidated Edison is the largest company listed on the New York Stock Exchange, having joined in 1824 as the New York Gas Light Company.
Besides US stocks, foreign companies can also list their shares on the New York Stock Exchange if they adhere to certain listing criteria.
Due to a series of mergers, the New York Stock Exchange was distinguished by its enormous size and global presence.
The company was founded in the name of NYSE and merged with Euronext and then with the American Stock Exchange.
In 2013, NYSE Euronext was sold for $11 billion to Intercontinental Exchange INC. (ICE)
ICE retained ownership of the New York Stock Exchange despite the emergence of Euronext from ICE with an initial public offering (IPO).
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Some Notable Dates in the History of the New York Stock Exchange
- October 24, 1929: The strongest and most violent stock market crash in US history began on Black Thursday and continued in a state of panic and selling until Black Tuesday.
This came on the heels of the crash of the London Stock Exchange, which occurred in September and heralded the beginning of the Great Depression, which affected all the industrialized nations of the West.
- October 1, 1934: Registered with the New York Stock Exchange and Securities Exchange as a national stock exchange.
- October 19, 1987: The Dow Jones Industrial Average plunged in one day 508 points, with a loss rate of 22.6%.
- September 11, 2001: Trading was closed for four days on the New York Stock Exchange after the September 11 attacks and returned to work, with losses of about $ 1.4 trillion in five days of trading after the reopening and considered among the largest losses in the history of the New York Stock Exchange.
- October 2008: NYSE Euronext acquires US stock exchange for $260 million.
- May 6, 2010: The Dow Jones Industrial Average (DJIA) suffered its biggest intraday drop since the October 19, 1987 low. It fell 998 points and is known as the Flash Crash 21 2010.
- December 20, 2012: ICE proposes to buy NYSE Euronext in an $8 billion share swap deal.
- May 1, 2014: The New York Stock Exchange is fined $4.5 million by the Securities and Exchange Commission in order to settle charges of violating market rules.
- May 25, 2018: Stacey Cunningham becomes the first woman to head the New York Stock Exchange.
- March 16, 2020: Fears of the spread of the COVID-19 pandemic have caused the Dow Jones Industrial Average DJIA to suffer its largest daily drop in history as it plunged 998.2 points, a ten-point drop from the previous close, its third worst day on record.
- March 23, 2020: The New York Stock Exchange temporarily closed trading due to the COVID-19 pandemic, opting to continue its operations electronically.
- March 24, 2020: The Dow Jones Industrial Average posted its biggest one-day gain on anticipation of the stimulus easing bill, and it was the fifth best day on record.
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