The New York Stock ExchangeTrading On The “Big Board”
Not only does Wall Street news dominate the daily reports on TV and in the papers, it has a prominent place in the annuls of American history as well. One of the pillars of Wall Street has been the New York Stock Exchange. With a history that can be traced back to 1792 and a lineage that dates to March 8, 1817, the New York Stock Exchange is an integral part of not only the stock market but of Americana as well.
From its strategic location on Wall Street, the New York Stock Exchange has become the largest stock exchange in the world and with its listing of nearly 2,800 securities; it is also the second largest based on this measurement. Stock trading was the highest in the world at the New York Stock Exchange until being passed by NASDAQ in the 1990s. Every major event in American business history has been witnessed at the New York Stock Exchange, including the stock market crash of 1929. Simply put, there is not a part of history in the stock market that does not include the New York Stock Exchange.
Changes For The New York Stock Exchange
With nearly two hundred years of history, there is no doubt that the New York Stock Exchange has seen many changes. Among the events that have defined the stock market news at the New York Stock Exchange are:
- 1792 - The NYSE acquires its first traded company
- 1817 - The constitution of the New York Stock and Exchange Board is drafted
- 1867 - The First Stock Ticker
- 1907 - Panic of 1907
- 1914 - World War I causes the longest exchange shutdown: four months, two weeks
- 1929 - Central quote system established; Black Thursday (October 24) and Black Tuesday (October 29) signal coming of Great Depression
- 1943 - Trading floor is opened to women
- 1954 - DJIA surpasses its 1929 peak
- 1971 - NYSE recognized as Not-for-Profit organization for tax purposes
- 1977 - Foreign brokers are admitted to NYSE
- 1979 - New York Futures Exchange established
- 1987 - Black Monday, October 19
- 1996 - Real-time ticker introduced
- 1999 - 2000 - First NYSE global index launched under the ticker NYIID
- 2001 - September 11, 2001 attacks occur, closing NYSE for 4 sessions
- 2006 - NYSE and ArcaEx merge, forming the publicly owned, for-profit NYSE Group, Inc.; in turn, NYSE Group merges with Euronext, creating the first trans-Atlantic stock exchange group; DJIA tops 12,000 on October 19
The Future Of The New York Stock Exchange
The New York Stock Exchange has a bright future and continues to grow year after year. With the introduction of stock market online investing, the New York Stock Exchange will continue to grow even without another broker learning how to buy stock. More investors come to Wall Street every year and the New York Stock Exchange continues to handle the additional volume thanks to state-of-the-art stock trading software. While security concerns will always exist, the New York Stock Exchange continues to work to its data safe for those investing in the stock market.