New York Stock Exchange

The New York Stock Exchange (NYSE, nicknamed "the Big Board") is an American stock exchange. It is located at the New York Stock Exchange Building in the Financial District of Lower Manhattan in New York City. It is the largest stock exchange in the world.

The NYSE is owned by Intercontinental Exchange, an American holding company.

Many people in America have money invested in the stock market. This shows how important the NYSE is for people's savings and financial plans.

History

The New York Stock Exchange started with the Buttonwood Agreement in 1792. That’s when brokers agreed to use fair prices for trading. Early trades included government bonds and stocks from banks like the Bank of New York. By 1817, the brokers made their rules official and got a special place for trading.

The Stock Exchange at 10–12 Broad Street, 1882

Over time, the NYSE grew and changed. It joined with other exchanges and began using new technology. Big events like wars and economic problems affected trading, but the NYSE kept getting bigger. In 2005, it became a public company and later joined with European markets. Today, it is the largest stock exchange in the world.

Notable events

Building

The NYSE Building in Christmastime (December 2008)

The main New York Stock Exchange Building was built in 1903. You can find it at 18 Broad Street. A famous architect named George B. Post designed it in a style called the Beaux Arts. Next door, at 11 Wall Street, there is another building finished in 1922. It was designed by Trowbridge & Livingston. Both buildings are very important and were named a National Historic Landmark in 1978. The building at 18 Broad Street is also a special New York City designated landmark.

Official holidays

The New York Stock Exchange is closed on several important holidays each year. These include New Year's Day, Martin Luther King Jr. Day, Washington's Birthday, Good Friday, Memorial Day, Juneteenth National Independence Day, Independence Day, Labor Day, Thanksgiving, and Christmas. If a holiday falls on a weekend, the exchange observes it on the nearest weekday. It also closes early on the day before Independence Day, the day after Thanksgiving, and on Christmas Eve. Each year, the NYSE has about 253 trading days.

Trading

The New York Stock Exchange, also called "The Big Board", lets people buy and sell shares of companies. It is open Monday through Friday from 9:30 am to 4:00 pm ET, except on holidays.

The trading floor of the New York Stock Exchange in March 2022

Traders gather around a special area where a broker helps match buyers and sellers. This used to be done by hand, but now computers help make trades faster. In 2007, almost all trades were done electronically.

Floor seats

The NYSE trading floor in 2009

In the past, only people who owned a "seat" could trade directly on the NYSE. These seats were very valuable. Today, the NYSE sells licenses to trade.

NYSE Composite Index

The NYSE created an index in the 1960s to show the value of all its stocks. This helps people see how the whole market is doing.

Timeline

In 1792, the NYSE started with its first securities.
In 1817, it became an official group.
In 1863, it changed its name to the New York Stock Exchange.
In 1920, a bomb damaged the building but trading continued.
In 1987, the market dropped a lot on Black Monday.
In 2001, trading changed from fractions to decimals.
In 2020, the NYSE used electronic trading during the COVID-19 pandemic.

Merger, acquisition, and control

In 2008, the NYSE bought another exchange called AMEX. Later, plans to merge with a European company were stopped. In 2012, a company called Intercontinental Exchange proposed to buy the NYSE, and this finally happened.

Opening and closing bells

The New York Stock Exchange (NYSE) uses special bells to mark the start and end of each trading day. The opening bell rings at 9:30 am ET to begin trading, and the closing bell rings at 4 pm ET to finish the day. There are three buttons to control the bells: a green one for the main bell, an orange one for a moment of silence, and a red one as a backup.

U.S. Secretary of Commerce Donald L. Evans rings the opening bell at the NYSE on April 23, 2003. Former chairman Richard Grasso is also in this picture.

Over time, the NYSE has used different signals to start and stop trading. Originally, a gavel was used, but later a gong and then a bell became the standard. Today, special guests such as business leaders, famous people, and even characters from movies often come to ring the bells. This tradition helps celebrate important events and new products.

Main article: Notable bell-ringers