What does NYSE stand for?

NYSE is the acronym for the New York Stock Exchange. The New York Stock Exchange originated in 1792 from the Buttonwood Agreement which was signed by twenty four (24) New York City merchants and stockbrokers. The agreement saw to the unswerving and unfailing commitment of the New York Stock Exchange to issuers and investors.

The company is located at Wall Street in New York City and is the largest stock exchange in the world according to United States dollar value of the listed companies’ securities. A total of US $10.1 trillion is the merged capitalization of all domestic NYSE listed companies and this was recorded in October 2008.

NYSE Euronext operates the New York Stock Exchange. NYSE Euronext was formed from a 2007 merger with the fully – electronic stock exchange Euronext.

The New York Stock Exchange which is sometimes called the Big Board offers an avenue for sellers and buyers to trade shares of c in companies registered for public trading. Trading can be done from Monday to Friday from 9:30 am to 4:00 pm, except of course for holidays which are announced by the NYSE beforehand.

The NYSE conducts continuous trading in a public sale format or setting on the trading floor. Traders have the ability to carry out stock transactions on behalf of investors. At the appropriate place before the specialist broker is situated, the traders will congregate around him and carryout their stock transactions. The specialist broker is hired by the member firm of the NYSE just for the purpose of auctioneering the market environment. On occasion NYSE will help the trade by entrusting their own capital and as a matter of course, distribute information to the crowd that aids in bringing sellers and buyers together.

Currently all NYSE stocks can be traded on the electronic Hybrid Market (this was since January 24, 2007), with the exception of small groups of very high priced stocks. A Hybrid Market permits stock brokers to execute their orders immediately in a fully automated electronic exchange or brokers can have their orders routed to the trading floor where orders are manually completed via traditional auction method in the presence of a specialist broker.

The owners of the 1366 seats are the ones to bestow rights to trade shares on the exchange. The 1366 seats concept came about in the 1870s when the NYSE members sat in chairs when they were trading. The seats are a sought after commodity as the owners bestow the ability to trade stock directly on the New York Stock Exchange. The cost for the seats varies from the year to year and the prices usually rise during economic booms but fall during recessions.

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