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The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American
stock exchange A stock exchange, securities exchange, or bourse is an exchange Exchange may refer to: Places United States * Exchange, Indiana Exchange is an Unincorporated area, unincorporated community in Green Township, Morgan County, Indiana, Green To ...
in the
Financial District This is a list of financial districts in cities around the world. Background A financial district is usually a central area in a city where financial services firms such as banks, Insurance company, insurance companies and other related financ ...
of
Lower Manhattan Lower Manhattan, also known as Downtown Manhattan or Downtown New York, is the southernmost part of , the central for business, culture, and in . Lower Manhattan is defined most commonly as the area delineated on the north by , on the west by t ...

Lower Manhattan
in
New York City New York, often called New York City to distinguish it from New York State New York is a state State may refer to: Arts, entertainment, and media Literature * ''State Magazine'', a monthly magazine published by the U.S. Department of ...

New York City
. It is by far the world's largest stock exchange by
market capitalization Market capitalization, commonly called market cap, is the market value of a publicly traded company A public company, publicly traded company, publicly held company, publicly listed company, or public limited company A public limited compan ...
of its listed companies at US$30.1 trillion as of February 2018. The average daily trading value was approximately 169 billion in 2013. The NYSE
trading floor Trade involves the transfer of goods or services from one person or entity to another, often in exchange for money. Economists refer to a system or network that allows trade as a market (economics), market. An early form of trade, the Gift ...
is at the
New York Stock Exchange Building The New York Stock Exchange Building (also the NYSE Building), in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City, serves as the headquarters of the New York Stock Exchange (NYSE). It is composed of two ...
on 11
Wall Street Wall Street is an eight-block-long street in the Financial District This is a list of financial districts in cities around the world. Background A financial district is usually a central area in a city where financial services firms suc ...

Wall Street
and 18
Broad StreetBroad Street may refer to: United Kingdom *Broad Street railway station (England), in London *Broad Street (ward), in London *Broad Street, Birmingham *Broad Street, Bristol *Broad Street, Oxford *Broad Street, Reading *Broad Street, Suffolk, hamle ...

Broad Street
and is a
National Historic Landmark A National Historic Landmark (NHL) is a building, district, object, site, or structure that is officially recognized by the United States government The federal government of the United States (U.S. federal government or U.S. governme ...
. An additional trading room, at 30 Broad Street, was closed in February 2007. The NYSE is owned by
Intercontinental Exchange The Intercontinental Exchange (ICE) is an American Fortune 500 company formed in 2000 that operates global exchanges, clearing houses and provides mortgage technology, data and listing services. The company owns exchanges for financial Fin ...
, an American holding company that it also lists (). Previously, it was part of NYSE Euronext (NYX), which was formed by the NYSE's 2007 merger with
Euronext Euronext N.V. (short for European New Exchange Technology) is a pan-European bourse that offers trading in regulated equities Stock (also capital stock) is all of the shares into which ownership of a corporation A corporation is an ...
.


History

The earliest recorded organization of securities trading in New York among brokers directly dealing with each other can be traced to the
Buttonwood Agreement The Buttonwood Agreement is the founding document of what is now New York Stock Exchange 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 Cit ...
. Previously, securities exchange had been intermediated by the auctioneers, who also conducted more mundane auctions of commodities such as wheat and tobacco. OCRed document unreable On May 17, 1792, twenty four brokers signed the Buttonwood Agreement, which set a floor commission rate charged to clients and bound the signers to give preference to the other signers in securities sales. The earliest securities traded were mostly governmental securities such as War Bonds from the Revolutionary War and
First Bank of the United States The President, Directors and Company of the Bank of the United States, commonly known as the First Bank of the United States, was a National Bank#United States of America, national bank, chartered for a term of twenty years, by the United States ...

First Bank of the United States
stock, although
Bank of New York The Bank of New York Mellon Corporation, commonly known as BNY Mellon, is an American services holding company headquartered in . BNY Mellon was formed from the merger of The Bank of New York and the in 2007. It is the world's largest and asse ...
stock was a non-governmental security traded in the early days. The
Bank of North America The Bank of North America was the first chartered bank in the United States, and served as the country's first ''de facto'' central bank. Chartered by the Congress of the Confederation on May 26, 1781, and opened in Philadelphia on January 7, 17 ...

Bank of North America
, along with the First Bank of the United States and the Bank of New York, were the first shares traded on the New York Stock Exchange. In 1817, the stockbrokers of New York, operating under the Buttonwood Agreement, instituted new reforms and reorganized. After sending a delegation to Philadelphia to observe the organization of their board of brokers, restrictions on manipulative trading were adopted, as well as formal organs of governance. After re-forming as the New York Stock and Exchange Board, the broker organization began renting out space exclusively for securities trading, which previously had been taking place at the
Tontine Coffee House The Tontine Coffee House was a coffeehouse in Manhattan, New York City, established in early 1793. Situated at 82 Wall Street, on the north-west corner of Water Street,Nathans, p. 133 it was built by a group of stockbrokers to serve as a meeting pla ...

Tontine Coffee House
. Several locations were used between 1817 and 1865, when the present location was adopted. The invention of the
electrical telegraph An electrical telegraph was a point-to-point text messaging system, used from the 1840s until the mid 20th century when it was slowly replaced by other telecommunication systems. At the sending station switches connected a source of current to ...
consolidated markets and New York's market rose to dominance over Philadelphia after weathering some market panics better than other alternatives. The Open Board of Stock Brokers was established in 1864 as a competitor to the NYSE. With 354 members, the Open Board of Stock Brokers rivaled the NYSE in membership (which had 533) "because it used a more modern, continuous trading system superior to the NYSE’s twice-daily call sessions". The Open Board of Stock Brokers merged with the NYSE in 1869. Robert Wright of ''Bloomberg'' writes that the merger increased the NYSE's members as well as trading volume, as "several dozen regional exchanges were also competing with the NYSE for customers. Buyers, sellers and dealers all wanted to complete transactions as quickly and cheaply as technologically possible and that meant finding the markets with the most trading, or the greatest liquidity in today’s parlance. Minimizing competition was essential to keep a large number of orders flowing, and the merger helped the NYSE maintain its reputation for providing superior liquidity." The
Civil War A civil war, also known as an intrastate war in polemology, is a war War is an intense armed conflict between states State may refer to: Arts, entertainment, and media Literature * ''State Magazine'', a monthly magazine publis ...
greatly stimulated speculative securities trading in New York. By 1869, membership had to be capped, and has been sporadically increased since. The latter half of the nineteenth century saw rapid growth in securities trading. Securities trade in the latter nineteenth and early twentieth centuries was prone to panics and crashes. Government regulation of securities trading was eventually seen as necessary, with arguably the most dramatic changes occurring in the 1930s after a major stock market crash precipitated the
Great Depression The Great Depression was a severe worldwide economic depression An economic depression is a sustained, long-term downturn in economic activity in one or more economies. It is a more severe economic downturn than a economic recession, recess ...
. The NYSE has also imposed additional rules in response to shareholder protection controls, e.g. in 2012, the NYSE imposed rules restricting brokers from voting uninstructed shares. The Stock Exchange Luncheon Club was situated on the seventh floor from 1898 until its closure in 2006. On April 21, 2005, the NYSE announced its plans to merge with
Archipelago An archipelago ( ), sometimes called an island group or island chain, is a chain, cluster or collection of island An island (or isle) is an isolated piece of habitat that is surrounded by a dramatically different habitat, such as ...
in a deal intended to reorganize the NYSE as a publicly traded company. NYSE's governing board voted to merge with rival Archipelago on December 6, 2005, and became a for-profit, public company. It began trading under the name NYSE Group on March 8, 2006. On April 4, 2007, the NYSE Group completed its merger with Euronext, the European combined stock market, thus forming
NYSE Euronext NYSE Euronext, Inc. was a Euro-American Multinational corporation, multinational financial services corporation that operated multiple Stock exchange, securities exchanges, including the New York Stock Exchange, Euronext and NYSE Arca (formerly k ...
, the first transatlantic stock exchange. Wall Street is the leading US money center for international financial activities and the foremost US location for the conduct of wholesale financial services. "It comprises a matrix of wholesale financial sectors, financial markets, financial institutions, and financial industry firms" (Robert, 2002). The principal sectors are securities industry, commercial banking, asset management, and insurance. Prior to the acquisition of NYSE Euronext by the ICE in 2013, Marsh Carter was the Chairman of the NYSE and the CEO was Duncan Niederauer. Currently, the chairman is Jeffrey Sprecher. In 2016, NYSE owner Intercontinental Exchange Inc. earned $419 million in listings-related revenues.


Notable events


20th century

The exchange was closed shortly after the beginning of World War I (July 31, 1914), but it partially re-opened on November 28 of that year in order to help the war effort by trading bonds, and completely reopened for stock trading in mid-December. On September 16, 1920, the
Wall Street bombing 240px, Cover of '' The New York Times'' reporting on the Wall Street bombing. The Wall Street bombing occurred at 12:01 pm on Thursday, September 16, 1920, in the Financial District This is a list of financial districts in cities around ...
occurred outside the building, killing thirty-eight people and injuring hundreds more. The Black Thursday crash of the Exchange on October 24, 1929, and the sell-off panic which started on
Black Tuesday The Wall Street Crash of 1929, also known as the Great Crash, was a major American stock market crash A stock market crash is a sudden dramatic decline of stock prices across a major cross-section of a stock market, resulting in a significant ...
, October 29, are often blamed for precipitating the
Great Depression The Great Depression was a severe worldwide economic depression An economic depression is a sustained, long-term downturn in economic activity in one or more economies. It is a more severe economic downturn than a economic recession, recess ...
. In an effort to restore investor confidence, the Exchange unveiled a fifteen-point program aimed to upgrade protection for the investing public on October 31, 1938. On October 1, 1934, the exchange was registered as a national securities exchange with the
U.S. Securities and Exchange Commission The U.S. Securities and Exchange Commission (SEC) is a large independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929 The Wall Street Crash of 1929, also known as the Great Crash ...
, with a president and a thirty-three-member board. On February 18, 1971, the non-profit corporation was formed, and the number of board members was reduced to twenty-five. One of
Abbie Hoffman Abbot Howard Hoffman (November 30, 1936 – April 12, 1989), better known as Abbie Hoffman, was an American political and social activist who co-founded the Youth International Party ("Yippies") and was a member of the Chicago Seven. He wa ...

Abbie Hoffman
's well-known publicity stunts took place in 1967, when he led members of the
Yippie The Youth International Party (YIP), whose members were commonly called Yippies, was an American youth-oriented Radical politics, radical and counterculture, countercultural revolutionary offshoot of the Free Speech Movement, free speech and ant ...
movement to the Exchange's gallery. The provocateurs hurled fistfuls of dollars toward the trading floor below. Some traders booed, and some laughed and waved. Three months later the stock exchange enclosed the gallery with bulletproof glass. Hoffman wrote a decade later, "We didn't call the press; at that time we really had no notion of anything called a media event." On October 19, 1987, the
Dow Jones Industrial Average The Dow Jones Industrial Average (DJIA), Dow Jones, or simply the Dow (), is a price-weighted measurement stock market index In finance, a stock index, or stock market index, is an Index (economics), index that measures a stock market, or ...

Dow Jones Industrial Average
(DJIA) dropped 508 points, a 22.6% loss in a single day, the second-biggest one-day drop the exchange had experienced. Black Monday was followed by Terrible Tuesday, a day in which the Exchange's systems did not perform well and some people had difficulty completing their trades. Subsequently, there was another major drop for the Dow on October 13, 1989—the Mini-Crash of 1989. The crash was apparently caused by a reaction to a news story of a $6.75 billion leveraged buyout deal for UAL Corporation, the parent company of
United Airlines United Airlines, Inc. (commonly referred to as United) is a major American airline headquartered in Willis Tower The Willis Tower (formerly known as and commonly referred to as the Sears Tower) is a 108-story Story or stories may refer t ...

United Airlines
, which broke down. When the UAL deal fell through, it helped trigger the collapse of the
junk bond In finance Finance is the study of financial institutions, financial markets and how they operate within the financial system. It is concerned with the creation and management of money and investments. Savers and investors have money availab ...
market causing the Dow to fall 190.58 points, or 6.91 percent. Similarly, there was a panic in the financial world during the year of 1997; the
Asian Financial Crisis The Asian financial crisis was a period of financial crisis that gripped much of East Asia East Asia is the eastern region of Asia Asia () is Earth's largest and most populous continent, located primarily in the Eastern Hemisphere, ...

Asian Financial Crisis
. Like the fall of many foreign markets, the Dow suffered a 7.18% drop in value (554.26 points) on October 27, 1997, in what later became known as the 1997 Mini-Crash but from which the DJIA recovered quickly. This was the first time that the "
circuit breaker A circuit breaker is an electrical safety device designed to protect an electrical circuit An electrical network is an interconnection of electrical component An electronic component is any basic discrete device or physical entity ...
" rule had operated.


21st century

On January 26, 2000, an altercation during filming of the music video for
Rage Against the Machine Rage Against the Machine (often abbreviated as RATM or shortened to Rage) is an American rock Rock most often refers to: * Rock (geology) A rock is any naturally occurring solid mass or aggregate of minerals or mineraloid matter. It ...

Rage Against the Machine
's "
Sleep Now in the Fire "Sleep Now in the Fire" is a song by American rock band Rage Against the Machine Rage Against the Machine (often abbreviated as RATM or shortened to Rage) is an American rock band from Los Angeles Los Angeles (; es, Los Ángeles; ...
", directed by
Michael Moore Michael Francis Moore (born April 23, 1954) is an American documentary filmmaker, author, and left-wing activist. His works frequently address the topics of globalization Globalization, or globalisation (Commonwealth English Th ...

Michael Moore
, caused the doors of the exchange to be closed and the band to be escorted from the site by security after the members attempted to gain entry into the exchange. In the
aftermath of the September 11 attacks The September 11 attacks The September 11 attacks, often referred to as 9/11, were a series of four coordinated terrorist attacks by the Wahhabi terrorist group Al-Qaeda against the United States The United States of America (U ...
, the NYSE was closed for four trading sessions, resuming on Monday, September 17, one of the rare times the NYSE was closed for more than one session and only the third time since March 1933. On the first day, the NYSE suffered a 7.1% drop in value (684 points); after a week, it dropped by 14% (1,370 points). An estimated $1.4 trillion was lost within five days of trading. The NYSE was only 5 blocks from
Ground Zero In relation to nuclear explosion Nuclear may refer to: Physics *Nuclear engineering Nuclear engineering is the branch of engineering Engineering is the use of scientific method, scientific principles to design and build machines, st ...
. On May 6, 2010, the Dow Jones Industrial Average posted its largest intraday percentage drop since the crash on October 19, 1987, with a 998-point loss later being called the 2010 Flash Crash (as the drop occurred in minutes before rebounding). The SEC and CFTC published a report on the event, although it did not come to a conclusion as to the cause. The regulators found no evidence that the fall was caused by erroneous ("fat finger") orders. On October 29, 2012, the stock exchange was shut down for two days due to
Hurricane Sandy Hurricane Sandy (unofficially referred to as Superstorm Sandy) was the deadliest, the most destructive, and the strongest hurricane A tropical cyclone is a rapidly rotating storm system characterized by a low-pressure center, a close ...
. The last time the stock exchange was closed due to weather for a full two days was on March 12 and 13, 1888. On May 1, 2014, the stock exchange was fined $4.5 million by the Securities and Exchange Commission to settle charges that it had violated market rules. On August 14, 2014,
Berkshire Hathaway Berkshire Hathaway () is an American multinational Multinational may refer to: * Multinational corporation, a corporate organization operating in multiple countries * Multinational force, a military body from multiple countries * Multinational ...

Berkshire Hathaway
's A Class shares, the highest priced shares on the NYSE, hit $200,000 a share for the first time. On July 8, 2015, technical issues affected the stock exchange, halting trading at 11:32 am ET. The NYSE reassured stock traders that the outage was "not a result of a cyber breach", and the
Department of Homeland Security The United States Department of Homeland Security (DHS) is the U.S. The United States of America (USA), commonly known as the United States (U.S. or US), or America, is a country primarily located in North America North Amer ...
confirmed that there was "no sign of malicious activity". Trading eventually resumed at 3:10 pm ET the same day. On May 25, 2018,
Stacey Cunningham Stacey Cunningham is a banker, and is the 67th president of the New York Stock Exchange (NYSE). She is the second female president of the NYSE, but the first to hold full leadership of the exchange. After interning with the NYSE during the 1990 ...
, the NYSE's chief operating officer, became the Big Board's 67th president, succeeding Thomas Farley. She is the first female leader in the exchange's 226-year history. In March 2020, the NYSE announced plans to temporarily move to all-electronic trading on March 23, 2020, due to the
COVID-19 pandemic in New York City The first case of the COVID-19 pandemic in New York City was confirmed in New York City in March 2020, though later research showed the virus had been circulating since January, with cases of community transmission confirmed as early as Februar ...
. The NYSE reopened on May 26, 2020.


Building

The main
New York Stock Exchange Building The New York Stock Exchange Building (also the NYSE Building), in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City, serves as the headquarters of the New York Stock Exchange (NYSE). It is composed of two ...
, built in 1903, is at 18 Broad Street, between the corners of Wall Street and Exchange Place, and was designed in the Beaux Arts style by
George B. Post George Browne Post (December 15, 1837 – November 28, 1913) was an American architect trained in the Beaux-Arts architecture, Beaux-Arts tradition. He was recognized as a master of modern American architecture as well as being instrumental in t ...
. The adjacent structure at 11 Wall Street, completed in 1922, was designed in a similar style by
Trowbridge & Livingston Trowbridge & Livingston was an architecture, architectural practice based in New York City in the early 20th century. The firm's partners were Samuel Beck Parkman Trowbridge and Goodhue Livingston. Founded in 1894 as Trowbridge, Livingston & Colt, ...
. The buildings were both designated a
National Historic Landmark A National Historic Landmark (NHL) is a building, district, object, site, or structure that is officially recognized by the United States government The federal government of the United States (U.S. federal government or U.S. governme ...
in 1978. 18 Broad Street is also a
New York City designated landmark The New York City Landmarks Preservation Commission (LPC) is the New York City agency charged with administering the city's Landmarks Preservation Law. The LPC is responsible for protecting New York City's architecturally, historically, and cu ...
.


Official holidays

The New York Stock Exchange is closed on
New Year's Day New Year's Day is a festival observed in most of the world on 1 January, the first day of the year in the modern Gregorian calendar The Gregorian calendar is the used in most of the world. It was introduced in October 1582 by as a modi ...

New Year's Day
, Martin Luther King, Jr. Day,
Washington's Birthday Washington's Birthday is a federal holiday in the United States celebrated on the third Monday of February in honor of George Washington, the first president of the United States, who was born on February 22, 1732. The Uniform Monday Holiday ...
,
Good Friday Good Friday is a Christian holiday commemorating the crucifixion of Jesus and his death at Calvary. It is observed during Holy Week as part of the Paschal Triduum. It is also known as Holy Friday, Great Friday, Great and Holy Friday (also Holy ...
,
Memorial Day Memorial Day (originally known as Decoration Day) is a federal holiday in the United States In the United States, a federal holiday is a calendar date that is recognized and designated by the federal government of the United States as a h ...
,
Independence Day An independence day is an annual event commemorating the anniversary An anniversary is the date on which an event took place or an institution was founded in a previous year, and may also refer to the commemoration or celebration of that ...
,
Labor Day Labor Day is a federal holiday in the United States In the United States, a federal holiday is a calendar date that is recognized and designated by the federal government of the United States as a holiday. Every year on a U.S. federal holid ...

Labor Day
,
Thanksgiving Thanksgiving is a national holiday A holiday is a day set aside by custom Custom may refer to: Sense: Customary * Convention (norm), a set of agreed, stipulated or generally accepted rules, norms, standards or criteria, often taking th ...
, and
Christmas Christmas is an annual festival commemorating Nativity of Jesus, the birth of Jesus Christ, observed primarily on December 25 as a religious and cultural celebration among billions of people Observance of Christmas by country, around the world ...

Christmas
. When those holidays occur on a weekend, the holiday is observed on the closest weekday. In addition, the Stock Exchange closes early on the day before Independence Day, the day after Thanksgiving, and Christmas Eve. The NYSE averages about 253
trading day In business, the trading day or regular trading hours (RTH) is the time span that a stock exchange is open, as opposed to Electronic trading hours, electronic or extended trading hours (ETH). For example, the New York Stock Exchange is, as of 2020, ...
s per year.


Trading

The New York Stock Exchange (sometimes referred to as "The Big Board") provides a means for buyers and sellers to
trade Trade involves the transfer of goods from one person or entity to another, often in exchange for money. Economists refer to a system A system is a group of Interaction, interacting or interrelated elements that act according to a set of r ...
shares In financial markets A financial market is a market Market may refer to: *Market (economics) *Market economy *Marketplace, a physical marketplace or public market Geography *Märket, an island shared by Finland and Sweden Art, entertain ...
of
stock In finance, stock (also capital stock) consists of all of the shares In financial markets A financial market is a market in which people trade financial securities and derivatives at low transaction costs. Some of the securities i ...

stock
in companies registered for public trading. The NYSE is open for trading Monday through Friday from 9:30 am – 4:00 pm ET, with the exception of holidays declared by the Exchange in advance. The NYSE trades in a continuous auction format, where traders can execute stock transactions on behalf of investors. They will gather around the appropriate post where a specialist broker, who is employed by a NYSE member firm (that is, he/she is not an employee of the New York Stock Exchange), acts as an auctioneer in an
open outcry Open outcry is a method of communication between professionals on a stock exchange A stock exchange, securities exchange, or bourse is an Exchange (organized market), exchange where stockbrokers and stock trader, traders can buy and sel ...
auction market environment to bring buyers and sellers together and to manage the actual auction. They do on occasion (approximately 10% of the time) facilitate the trades by committing their own capital and as a matter of course disseminate information to the crowd that helps to bring buyers and sellers together. The auction process moved toward automation in 1995 through the use of wireless handheld computers (HHC). The system enabled traders to receive and execute orders electronically via wireless transmission. On September 25, 1995, NYSE member Michael Einersen, who designed and developed this system, executed 1000 shares of IBM through this HHC ending a 203-year process of paper transactions and ushering in an era of automated trading.


Electronic

As of January 24, 2007, all NYSE stocks can be traded via its electronic
hybrid market A hybrid market allows a stockbroker A stockbroker is a regulated broker A broker is a person or firm who arranges transactions between a Purchasing, buyer and a sales, seller for a commission (remuneration), commission when the deal is execute ...
(except for a small group of very high-priced stocks). Customers can now send orders for immediate electronic execution, or route orders to the floor for trade in the auction market. In the first three months of 2007, in excess of 82% of all order volume was delivered to the floor electronically. NYSE works with US regulators such as the SEC and CFTC to coordinate risk management measures in the electronic trading environment through the implementation of mechanisms like circuit breakers and liquidity replenishment points. Until 2005, the right to directly trade shares on the exchange was conferred upon owners of the 1,366 "seats". The term comes from the fact that up until the 1870s NYSE members sat in chairs to trade. In 1868, the number of seats was fixed at 533, and this number was increased several times over the years. In 1953, the number of seats was set at 1,366. These seats were a sought-after commodity as they conferred the ability to directly trade stock on the NYSE, and seat holders were commonly referred to as members of the NYSE. The Barnes family is the only known lineage to have five generations of NYSE members: Winthrop H. Barnes (admitted 1894), Richard W.P. Barnes (admitted 1926), Richard S. Barnes (admitted 1951), Robert H. Barnes (admitted 1972), Derek J. Barnes (admitted 2003). Seat prices varied widely over the years, generally falling during recessions and rising during economic expansions. The most expensive inflation-adjusted seat was sold in 1929 for $625,000, which, today, would be over six million dollars. In recent times, seats have sold for as high as $4 million in the late 1990s and as low as $1 million in 2001. In 2005, seat prices shot up to $3.25 million as the exchange entered into an agreement to merge with Archipelago and became a for-profit, publicly traded company. Seat owners received $500,000 in cash per seat and 77,000 shares of the newly formed corporation. The NYSE now sells one-year licenses to trade directly on the exchange. Licenses for floor trading are available for $40,000 and a license for bond trading is available for as little as $1,000 as of 2010. Neither are resell-able, but may be transferable during a change of ownership of a corporation holding a trading license. Following the Black Monday market crash in 1987, NYSE imposed
trading curb A trading curb (typically known as a circuit breaker in Wall Street Wall Street is an eight-block-long street in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It runs between Broadway (Manhattan), B ...
s to reduce market volatility and massive panic sell-offs. Following the 2011 rule change, at the start of each trading day, the NYSE sets three circuit breaker levels at levels of 7% (Level 1), 13% (Level 2), and 20% (Level 3) of the average closing price of the
S&P 500 The Standard and Poor's 500, or simply the S&P 500, is a stock market index tracking the performance of 500 large companies listed on stock exchanges in the United States. It is one of the most commonly followed equity indices. As of Decembe ...

S&P 500
for the preceding trading day. Level 1 and Level 2 declines result in a 15-minute trading halt unless they occur after 3:25 pm, when no trading halts apply. A Level 3 decline results in trading being suspended for the remainder of the day. (The biggest one-day decline in the S&P 500 since 1987 was the 11.98% drop on March 16, 2020.)


NYSE Composite Index

In the mid-1960s, the
NYSE Composite The NYSE Composite (^NYA) is a stock market index In , a stock index, or stock market index, is an that measures a , or a subset of the stock market, that helps s compare current s with past prices to calculate market performance. Two of the ...
Index Index may refer to: Arts, entertainment, and media Fictional entities * Index (''A Certain Magical Index''), a character in the light novel series ''A Certain Magical Index'' * The Index, an item on a Halo megastructure in the ''Halo'' series ...
(NYSE: NYA) was created, with a base value of 50 points equal to the 1965 yearly close. This was done to reflect the value of all stocks trading at the exchange instead of just the 30 stocks included in the
Dow Jones Industrial Average The Dow Jones Industrial Average (DJIA), Dow Jones, or simply the Dow (), is a price-weighted measurement stock market index In finance, a stock index, or stock market index, is an Index (economics), index that measures a stock market, or ...

Dow Jones Industrial Average
. To raise the profile of the composite index, in 2003, the NYSE set its new base value of 5,000 points equal to the 2002 yearly close. Its close at the end of 2013 was 10,400.32.


Timeline

*In 1792, NYSE acquires its first traded securities. *In 1817, the constitution of the New York Stock and Exchange Board is adopted. It had also been established by the New York brokers as a formal organization. *In 1863, the name changed to the New York Stock Exchange. *In 1865, the
New York Gold Exchange The New York Gold Exchange was an Exchange (organized market), exchange formed shortly after the beginning of the American Civil War for the purpose of creating an open market for transactions involving gold and the government-created paper currenc ...
was acquired by the NYSE.George Winslow, "New York Gold Market" in ''
The Encyclopedia of New York City ''The Encyclopedia of New York City'' is a reference book on New York City New York City (NYC), often simply called New York, is the List of United States cities by population, most populous city in the United States. With an estimated 201 ...
'' (2d ed.: eds. Kenneth T. Jackson, Lisa Keller & Nancy Flood).
*In 1867, stock tickers were first introduced. *In 1885, the 400 NYSE members in the Consolidated Stock Exchange withdraw from Consolidated over disagreements on exchange trade areas. *In 1896, the is first published in ''
The Wall Street Journal ''The Wall Street Journal'', also known as ''The Journal'', is an American business-focused, English-language international daily newspaper A newspaper is a periodical Periodical literature (also called a periodical publication or sim ...

The Wall Street Journal
''. *In 1903, the NYSE moves into new quarters at 18
Broad StreetBroad Street may refer to: United Kingdom *Broad Street railway station (England), in London *Broad Street (ward), in London *Broad Street, Birmingham *Broad Street, Bristol *Broad Street, Oxford *Broad Street, Reading *Broad Street, Suffolk, hamle ...

Broad Street
. *In 1906, the DJIA exceeds 100 on January 12. *In 1907,
Panic of 1907 The Panic of 1907 – also known as the 1907 Bankers' Panic or Knickerbocker Crisis – was a financial crisis A financial crisis is any of a broad variety of situations in which some financial assets suddenly lose a large part of their nomina ...
. *In 1909, trading in bonds begins. *In 1915, basis of quoting and trading in stocks changes from percent of par value to dollars. *In 1920, a bomb exploded on Wall Street outside the NYSE building. Thirty-eight killed and hundreds injured. *In 1923, Poor's Publishing introduced their "Composite Index", today referred to as the
S&P 500 The Standard and Poor's 500, or simply the S&P 500, is a stock market index tracking the performance of 500 large companies listed on stock exchanges in the United States. It is one of the most commonly followed equity indices. As of Decembe ...
, which tracked a small number of companies on the NYSE. *In 1929, the central quote system was established; Black Thursday, October 24 and
Black Tuesday The Wall Street Crash of 1929, also known as the Great Crash, was a major American stock market crash A stock market crash is a sudden dramatic decline of stock prices across a major cross-section of a stock market, resulting in a significant ...
, October 29 signal the end of the
Roaring Twenties The Roaring Twenties, sometimes stylized as the Roarin' 20s, refers to the decade of the 1920s in Western world, Western society and Western culture. It was a period of economic prosperity with a distinctive cultural edge in the United States ...
bull market. *In 1938, NYSE names its first president. *In 1943, the trading floor is opened to women while men were serving in
WWII World War II or the Second World War, often abbreviated as WWII or WW2, was a global war A world war is "a war War is an intense armed conflict between states State may refer to: Arts, entertainment, and media Literatur ...

WWII
. *In 1949, the third longest (eight-year)
bull market A market trend is a perceived tendency of financial market A financial market is a market (economics), market in which people trade financial Security (finance), securities and derivative (finance), derivatives at low transaction costs. Some ...

bull market
begins. *In 1954, the DJIA surpasses its 1929 peak in inflation-adjusted dollars. *In 1956, the DJIA closes above 500 for the first time on March 12. *In 1957, after Poor's Publishing merged with the Standard Statistics Bureau, the Standard & Poors composite index grew to track 500 companies on the NYSE, becoming known as the S&P 500. *In 1966, NYSE begins a composite index of all listed common stocks. This is referred to as the "Common Stock Index" and is transmitted daily. The starting point of the index is 50. It is later renamed the NYSE Composite Index. *In 1967,
Muriel Siebert Muriel Faye Siebert (September 12, 1928 – August 24, 2013) was an American businesswoman who was the first woman to own a seat on the New York Stock Exchange, and the first woman to head one of the NYSE's member firms. She joined the 1,365 male ...
becomes the first female member of the New York Stock Exchange. *In 1967, protesters led by
Abbie Hoffman Abbot Howard Hoffman (November 30, 1936 – April 12, 1989), better known as Abbie Hoffman, was an American political and social activist who co-founded the Youth International Party ("Yippies") and was a member of the Chicago Seven. He wa ...

Abbie Hoffman
throw mostly fake dollar bills at traders from gallery, leading to the installation of bullet-proof glass. *In 1970, the
Securities Investor Protection Corporation The Securities Investor Protection Corporation (SIPC ) is a federally mandated, non-profit A nonprofit organization (NPO), also known as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity organize ...
was established. *In 1971, NYSE incorporated and recognized as Not-for-Profit organization. *In 1971, the
NASDAQ The Nasdaq Stock Market () is an American stock exchange A stock exchange, securities exchange, or bourse is an exchange Exchange may refer to: Places United States * Exchange, Indiana Exchange is an Unincorporated area, unincorpora ...
was founded and competes with the NYSE as the world's first electronic stock market. To date, the NASDAQ is the second-largest exchange in the world by market capitalization, behind only the NYSE. *In 1972, the DJIA closes above 1,000 for the first time on November 14. *In 1977, foreign brokers are admitted to NYSE. *In 1980, the New York Futures Exchange was established. *In 1987, Black Monday, October 19, sees the second-largest one-day DJIA percentage drop (22.6%, or 508 points) in history. *In 1987, membership in the NYSE reaches a record price of $1.5 million. *In 1989, On September 14, seven members of
ACT-UP AIDS Coalition to Unleash Power (ACT UP) is an international, grassroots A grassroots movement is one that uses the people in a given district, region, or community as the basis for a political or economic movement. Grassroots movements and or ...
, The AIDS Coalition to Unleash Power, entered the NYSE and protested by chaining themselves to the balcony overlooking the trading floor and unfurling a banner, "SELL WELCOME," in reference to drug manufacturer Burroughs Wellcome. Following the protest,
Burroughs Wellcome GlaxoSmithKline plc (GSK) is a British Multinational corporation, multinational pharmaceutical industry, pharmaceutical company headquartered in London, England. Established in 2000 by a Mergers and acquisitions, merger of Glaxo Wellcome and Sm ...
reduced the price of AZT (a drug used by people with living with HIV and AIDS) by over 30%. *In 1990, the longest (ten-year)
bull market A market trend is a perceived tendency of financial market A financial market is a market (economics), market in which people trade financial Security (finance), securities and derivative (finance), derivatives at low transaction costs. Some ...

bull market
begins. *In 1991, the DJIA exceeds 3,000. *In 1995, the DJIA exceeds 5,000. *In 1996, real-time ticker introduced. *In 1997, on October 27, a sell-off in Asia's stock markets hurts the U.S. markets as well; DJIA sees the largest one-day ''point'' drop of 554 (or 7.18%) in history. *In 1999, the DJIA exceeds 10,000 on March 29. *In 2000, the DJIA peaks at 11,722.98 on January 14; first NYSE global index is launched under the ticker NYIID. *In 2001, trading in fractions () ends, replaced by decimals (increments of $0.01, see
Decimalization Decimalisation (American English American English (AmE, AE, AmEng, USEng, en-US), sometimes called United States English or U.S. English, is the set of varieties of the English language native to the United States. Currently, American Engli ...
);
September 11 attacks The September 11 attacks, also commonly referred to as 9/11, were a series of four coordinated by the militant terrorist group against the on the morning of Tuesday, September 11, 2001. On that morning, four commercial s traveling fro ...
occur causing NYSE to close for four sessions. *In 2003,
NYSE Composite The NYSE Composite (^NYA) is a stock market index In , a stock index, or stock market index, is an that measures a , or a subset of the stock market, that helps s compare current s with past prices to calculate market performance. Two of the ...
Index relaunched and value set equal to 5,000 points. *In 2006, NYSE and ArcaEx merge, creating
NYSE Arca NYSE Arca, previously known as ArcaEx, an abbreviation of Archipelago Exchange, is an Exchange (organized market), exchange on which both stocks and options are traded. It was owned by Intercontinental Exchange. It merged with the New York Stock E ...
and forming the publicly owned, for-profit NYSE Group, Inc.; in turn, NYSE Group merges with
Euronext Euronext N.V. (short for European New Exchange Technology) is a pan-European bourse that offers trading in regulated equities Stock (also capital stock) is all of the shares into which ownership of a corporation A corporation is an ...
, creating the first trans-Atlantic stock exchange group; DJIA tops 12,000 on October 19. *In 2007, US President
George W. Bush George Walker Bush (born July 6, 1946) is an American politician and businessman who served as the 43rd president of the United States The president of the United States (POTUS) is the head of state and head of government of the Un ...

George W. Bush
shows up unannounced to the Floor about an hour and a half before a
Federal Open Market Committee The Federal Open Market Committee (FOMC), a committee within the Federal Reserve System The Federal Reserve System (also known as the Federal Reserve or simply the Fed) is the central bank A central bank, reserve bank, or monetary a ...
interest-rate decision on January 31; NYSE announces its merger with the
American Stock Exchange NYSE American, formerly known as the American Stock Exchange (AMEX), and more recently as NYSE MKT, is an American stock exchange A stock exchange, securities exchange, or bourse is an Exchange (organized market), exchange where stockbrokers ...
; NYSE Composite closes above 10,000 on June 1;
DJIA The Dow Jones Industrial Average (DJIA), Dow Jones, or simply the Dow (), is a stock market index that measures the stock performance of 30 large companies listed on stock exchanges in the United States. Although the DJIA is one of the oldest ...

DJIA
exceeds 14,000 on July 19 and closes at a peak of 14,164.53 on October 9. *In 2008, the DJIA loses more than 500 points on September 15 amid fears of bank failures, resulting in a permanent prohibition of
naked short selling Image:Naked short.png, upright=1.5, Schematic representation of naked short selling of stock shares in two steps. The short seller sells shares without owning them. They later purchase and deliver the shares for a different market price. If the sh ...

naked short selling
and a three-week temporary ban on all
short selling In finance Finance is the study of financial institutions, financial markets and how they operate within the financial system. It is concerned with the creation and management of money and investments. Savers and investors have money avai ...

short selling
of financial stocks; in spite of this, record volatility continues for the next two months, culminating at -year market lows. *In 2009, the second longest and current
bull market A market trend is a perceived tendency of financial market A financial market is a market (economics), market in which people trade financial Security (finance), securities and derivative (finance), derivatives at low transaction costs. Some ...

bull market
begins on March 9 after the
DJIA The Dow Jones Industrial Average (DJIA), Dow Jones, or simply the Dow (), is a stock market index that measures the stock performance of 30 large companies listed on stock exchanges in the United States. Although the DJIA is one of the oldest ...

DJIA
closes at 6,547.05 reaching a 12-year low; DJIA returns to 10,015.86 on October 14. *In 2013, the DJIA closes above 2007 highs on March 5; DJIA closes above 16,500 to end the year. *In 2014, the DJIA closes above 17,000 on July 3 and above 18,000 on December 23. *In 2015, the DJIA achieved an all-time high of 18,351.36 on May 19. *In 2015, the DJIA dropped over 1,000 points to 15,370.33 soon after open on August 24, 2015, before bouncing back and closing at 15,795.72, a drop of over 669 points. *In 2016, the DJIA hits an all-time high of 18,873.6. *In 2017, the DJIA reaches 20,000 for the first time (on January 25). *In 2018, the DJIA reaches 25,000 for the first time (on January 4). On February 5, the DJIA dropped 1,175 points, making it the largest point drop in history. In 2020, the NYSE temporarily transitioned to electronic trading due to the
COVID-19 Coronavirus disease 2019 (COVID-19) is a contagious disease A contagious disease is a disease A disease is a particular abnormal condition that negatively affects the structure A structure is an arrangement and organization o ...

COVID-19
pandemic.


Merger, acquisition, and control

In October 2008,
NYSE Euronext NYSE Euronext, Inc. was a Euro-American Multinational corporation, multinational financial services corporation that operated multiple Stock exchange, securities exchanges, including the New York Stock Exchange, Euronext and NYSE Arca (formerly k ...
completed acquisition of the
American Stock Exchange NYSE American, formerly known as the American Stock Exchange (AMEX), and more recently as NYSE MKT, is an American stock exchange A stock exchange, securities exchange, or bourse is an Exchange (organized market), exchange where stockbrokers ...
(AMEX) for $260 million in stock. On February 15, 2011, NYSE and
Deutsche Börse Deutsche Börse AG () or the Deutsche Börse Group, is a German company offering marketplace organizing for the trading of shares In financial markets A financial market is a market in which people trade financial securities and deriva ...
announced their merger to form a new company, as yet unnamed, wherein Deutsche Börse shareholders would have 60% ownership of the new entity, and
NYSE Euronext NYSE Euronext, Inc. was a Euro-American Multinational corporation, multinational financial services corporation that operated multiple Stock exchange, securities exchanges, including the New York Stock Exchange, Euronext and NYSE Arca (formerly k ...
shareholders would have 40%. On February 1, 2012, the
European Commission The European Commission (EC) is the executive branch The executive is the branch of government exercising authority in and holding Moral responsibility, responsibility for the governance of a State (polity), state. The executive executes a ...

European Commission
blocked the merger of NYSE with Deutsche Börse, after commissioner
Joaquín Almunia Joaquín Almunia Amann (born 17 June 1948) is a Spanish politician and formerly, prominent member of the European Commission The European Commission (EC) is the executive branch The executive is the branch of government exercising aut ...
stated that the merger "would have led to a near-monopoly in European financial derivatives worldwide". Instead, Deutsche Börse and NYSE would have to sell either their
Eurex Eurex Exchange is an international exchange which primarily offers trading in European based derivatives. It is the largest European futures and options market. The products traded on this exchange vary from German and Swiss debt instruments to Eur ...

Eurex
derivatives or
LIFFE Image:LIFFE_Trader.JPG, thumbnail, LIFFE Trader opposite Cannon Street station. The London International Financial Futures and Options Exchange (LIFFE, pronounced 'life') was a futures exchange based in London. In 2014, following a series of t ...
shares in order to not create a monopoly. On February 2, 2012, NYSE Euronext and Deutsche Börse agreed to scrap the merger. In April 2011,
Intercontinental Exchange The Intercontinental Exchange (ICE) is an American Fortune 500 company formed in 2000 that operates global exchanges, clearing houses and provides mortgage technology, data and listing services. The company owns exchanges for financial Fin ...
(ICE), an American
futures exchange A futures exchange or futures market is a central financial exchange An exchange, bourse (), trading exchange or trading venue is an organized market where (especially) tradable securities A security is a tradable financial asset. The term ...
, and
NASDAQ OMX Group Nasdaq, Inc. is an American multinational financial services Financial services are the Service (economics), economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit ...

NASDAQ OMX Group
had together made an unsolicited proposal to buy NYSE Euronext for approximately , a deal in which NASDAQ would have taken control of the stock exchanges. NYSE Euronext rejected this offer twice, but it was finally terminated after the
United States Department of Justice The United States Department of Justice (DOJ), also known as the Justice Department, is a federal executive department of the United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) o ...
indicated their intention to block the deal due to
antitrust Competition law is a law Law is a system A system is a group of Interaction, interacting or interrelated elements that act according to a set of rules to form a unified whole. A system, surrounded and influenced by its environmen ...
concerns. In December 2012, ICE had proposed to buy NYSE Euronext in a
stock swap In corporate finance Corporate finance is the area of finance Finance is the study of financial institutions, financial markets and how they operate within the financial system. It is concerned with the creation and management of money and ...
with a valuation of $8 billion. NYSE Euronext shareholders would receive either $33.12 in cash, or $11.27 in cash and approximately a sixth of a share of ICE.
Jeffrey Sprecher Jeffrey Craig Sprecher (, , born February 23, 1955) is an American businessman, the founder, chairman The chairperson (also chair, chairman, or chairwoman) is the presiding officer of an organized group such as a board, committee, or delibera ...

Jeffrey Sprecher
, the chairman and CEO of ICE, will retain those positions, but four members of the NYSE board of directors will be added to the ICE board.


Opening and closing bells

The NYSE's opening and closing bells mark the beginning and the end of each trading day. The opening bell is rung at 9:30 am ET to mark the start of the day's trading session. At 4 pm ET the closing bell is rung and trading for the day stops. There are bells located in each of the four main sections of the NYSE that all ring at the same time once a button is pressed. There are three buttons that control the bells, located on the control panel behind the podium which overlooks the trading floor. The main bell, which is rung at the beginning and end of the trading day, is controlled by a green button. The second button, colored orange, activates a single-stroke bell that is used to signal a moment of silence. A third, red button controls a backup bell which is used in case the main bell fails to ring.


History

The signal to start and stop trading was not always a bell. The original signal was a
gavel A gavel is a small ceremonial mallet A mallet is a tool used for imparting force on another object, often made of rubber Rubber, also called India rubber, latex, Amazonian rubber, ''caucho'', or ''caoutchouc'', as initially produ ...

gavel
(which is still in use today along with the bell), but during the late 1800s, the NYSE decided to switch the gavel for a gong to signal the day's beginning and end. After the NYSE changed to its present location at 18 Broad Street in 1903, the gong was switched to the bell format that is currently being used. A common sight today is the highly publicized events in which a celebrity or executive from a corporation stands behind the NYSE podium and pushes the button that signals the bells to ring. Due to the amount of coverage that the opening/closing bells receive, many companies coordinate new product launches and other marketing-related events to start on the same day as when the company's representatives ring the bell. It was only in 1995 that the NYSE began having special guests ring the bells on a regular basis; prior to that, ringing the bells was usually the responsibility of the exchange's floor managers.


Notable bell-ringers

Many of the people who ring the bell are business executives whose companies trade on the exchange. However, there have also been many famous people from outside the world of business that have rung the bell. Athletes such as
Joe DiMaggio Joseph Paul DiMaggio (November 25, 1914 – March 8, 1999), nicknamed "Joltin' Joe", "The Yankee Clipper" and "Joe D." was an American baseball Baseball is a bat-and-ball gameBat-and-ball may refer to: *Bat-and-ball games Bat-and ...
of the
New York Yankees The New York Yankees are an American professional baseball Baseball is a bat-and-ball games, bat-and-ball game played between two opposing teams who take turns batting (baseball), batting and fielding. The game proceeds when a pl ...
and Olympic swimming champion
Michael Phelps Michael Fred Phelps II (born June 30, 1985) is an American former competitive swimmer. He is the most successful and most decorated Olympian of all time with a total of 28 medals. Phelps also holds the all-time records for Olympic gold me ...

Michael Phelps
, entertainers such as
rapper Rapping (also rhyming, spitting, emceeing or MCing) is a musical form of vocal delivery that incorporates "rhyme, rhythmic speech, and street vernacular", which is performed or chanted in a variety of ways, usually over a backing beat or musi ...

rapper
Snoop Dogg Calvin Cordozar Broadus Jr. (born October 20, 1971), known professionally as Snoop Dogg (previously Snoop Doggy Dogg and briefly Snoop Lion), is an American rapper, songwriter, media personality, actor, and entrepreneur. His fame dates to 1992 ...
, members of
ESPN ESPN (originally an initialism for Entertainment and Sports Programming Network) is an American multinational basic cable Cable television Cable television is a system of delivering television programming to consumers via radio frequen ...

ESPN
’s College GameDay crew, singer and actress
Liza Minnelli Liza May Minnelli (; born March 12, 1946) is an American actress, dancer, and singer. She is best known for her Academy Award-winning performance in ''Cabaret (1972 film), Cabaret'' (1972), the film ''Arthur (1981 film), Arthur'' (1981), several ...

Liza Minnelli
and members of the band
Kiss A kiss is the touch or pressing of one's lips against another person or an object. Cultural connotations of kissing vary widely. Depending on the culture and context, a kiss can express sentiments of love Love encompasses a range of str ...
, and politicians such as
Mayor of New York City The mayor of New York City, officially Mayor of the City of New York, is head of the executive branch of the Government of New York City. The Mayoralty in the United States, mayor's office administers all city services, public property, police ...
Rudy Giuliani Rudolph William Louis Giuliani (, ; born May 28, 1944) is an American attorney and politician who served as the 107th Mayor of New York City The mayor of New York City, officially Mayor of the City of New York, is head of the executive bran ...

Rudy Giuliani
and
President of South Africa The president of South Africa is the head of state and head of government of the Republic of South Africa. The president heads the executive branch of the Government of South Africa and is the commander-in-chief of the South African National ...
Nelson Mandela Nelson Rolihlahla Mandela (born Rolihlahla Mandela ; ; 18 July 1918 – 5 December 2013) was a South African anti-apartheid revolutionary, political leader and philanthropist who served as the first president of South Africa Th ...

Nelson Mandela
have all had the honor of ringing the bell. Two United Nations Secretaries General have also rung the bell. On April 27, 2006, rang the opening bell to launch the United Nations
Principles for Responsible Investment Principles for Responsible Investment (UNPRI or PRI) is a United Nations The United Nations (UN) is an intergovernmental organization that aims to maintain international peace and international security, security, develop friendly relations ...
. On July 24, 2013, rang the closing bell to celebrate the NYSE joining the United Nations
Sustainable Stock Exchanges Initiative The Sustainable Stock Exchanges (SSE) initiative promoting corporate investment in sustainable development. It is a project of the United Nations The United Nations (UN) is an intergovernmental organization that aims to maintain internati ...
. In addition, there have been many bell-ringers who are famous for heroic deeds, such as members of the New York police and fire departments following the events of 9/11, members of the
United States Armed Forces The United States Armed Forces are the Military, military forces of the United States of America. The armed forces consists of six Military branch, service branches: the United States Army, Army, United States Marine Corps, Marine Corps, Uni ...

United States Armed Forces
serving overseas, and participants in various charitable organizations. There have also been several fictional characters that have rung the bell, including Mickey Mouse, the Pink Panther (character), Pink Panther, Mr. Potato Head, the Aflac Duck, Gene of The Emoji Movie, and Darth Vader.


See also

* Aftermath of the September 11 attacks * Economy of New York City * Economy of the United States * List of stock exchanges#United States of America, List of American Exchanges * List of stock exchange mergers in the Americas * List of presidents of the New York Stock Exchange * List of stock exchange trading hours * Rule 48 * Series 14 exam * Trading day *
U.S. Securities and Exchange Commission The U.S. Securities and Exchange Commission (SEC) is a large independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929 The Wall Street Crash of 1929, also known as the Great Crash ...
* List of stock exchanges in the Americas


References


Citations


Sources

* * * * *


External links

* {{authority control New York Stock Exchange, Financial services companies established in 1817 1817 establishments in New York (state) Stock exchanges in the United States Companies based in New York City Financial services companies based in New York City American companies established in 1817 Intercontinental Exchange