The New York Stock Exchange (abbreviated as NYSE, and nicknamed "The Big Board "), is an American stock exchange located at 11 Wall Street , Lower Manhattan, New York City, New York. It is the largest stock market in the world based on market capitalization of listed companies in the US $ 21.3 trillion as of June 2017. The average daily trading value is approximately US $ 169 billion in 2013. NYSE Trade Flooring is located on 11 Wall Street and consists of 21 rooms used for trade facilitation. The fifth trading room, located at 30 Broad Street, was closed in February 2007. The main building and building 11 Wall Street was designated a National Historic Landmark in 1978.
NYSE is owned by Intercontinental Exchange, the parent company of United States of America (NYSE: Ã, ICE). Previously, it was part of the NYSE Euronext (NYX), which was formed by the NYSE merger 2007 with Euronext.
The NYSE has been the subject of several lawsuits related to fraud or breach of duty and in 2004 sued by former CEO for breach of contract and defamation.
Video New York Stock Exchange
Histori
The earliest recorded securities trading organizations in New York among brokers who are directly related to each other can be traced to the Buttonwood Agreement. Earlier stock exchanges had been mediated by auctioneers who also undertook more worldly auctions of commodities such as wheat and tobacco. On May 17, 1792, twenty-four brokers signed the Buttonwood Agreement which sets the floor commission fee charged to clients and binds the signatories to give preference to other signatories in the sale of securities. The earliest securities traded were mostly government securities such as the War Bonds from the Revolutionary War and the First Bank of the United States, although Bank of New York shares were non-governmental security traded in the early days. The North American Bank along with First Bank of United States and Bank of New York are the first shares traded on the New York Stock Exchange.
In 1817 New York stockbrokers operating under the Buttonwood Agreement instituted new reforms and reorganized. After sending delegates to Philadelphia to observe their broker board organization, adopted manipulative trade restrictions as well as formal governance organs. After re-forming as the New York Stock and Exchange Board, the brokerage organization began renting out a special space for securities trading, which had previously been taking place at Tontine Coffee House. Some locations were used between 1817 and 1865, when this location was adopted.
The discovery of the electric telegraph consolidation market, and the New York market rose to dominance over Philadelphia after drowning some market panic better than any other alternative. The Open Board of Stock Brokers was founded in 1864 as a NYSE competitor. With 354 members, the Open Board of Stock Brokers rival the NYSE membership (which has 533) "as it uses a more sophisticated and sustainable trading system that is superior to the NYSE twice-daily call sessions." The Open Board of Stock Brokers joined the NYSE in 1869. Robert Wright of Bloomberg writes that mergers increase members of the NYSE as well as trading volumes, as "several dozen regional exchanges also compete with the NYSE for customers, sellers and dealers all want to complete the transaction as quickly and technically as possible and that means finding the market with the most trade, or the greatest liquidity in the contemporary language Minimizing competition is essential to keep large orders flowing, and mergers help the NYSE to maintain its reputation in providing superior liquidity. "The Civil War strongly stimulated the trading of speculative securities in New York. By 1869 the membership had to be closed, and has increased sporadically ever since. The second half of the nineteenth century experienced rapid growth in securities trading.
Securities trading in the nineteenth and early twentieth centuries was vulnerable to panic and crash. The government regulation of securities trading is ultimately deemed necessary, with the most dramatic possibility of change taking place in the 1930s after a major stock market crash sparked an economic depression.
The Stock Exchange Luncheon Club is located on the seventh floor from 1898 until the close of 2006.
The main building, located on 18 Broad Street, between the corners of Wall Street and Exchange Place, is designated as the National Historic Landmark in 1978, such as the 11 Wall Street building.
NYSE announced its plan to join Archipelago on April 21, 2005, in an agreement aimed at reorganizing the NYSE as a public company. The NYSE-led board voted to join arch-rival Archipelago on December 6, 2005, and became a non-profit public corporation. It started trading under the name of the NYSE Group on March 8, 2006. A little over a year later, on April 4, 2007, the NYSE Group completed a merger with Euronext, a joint European stock market, thus forming the NYSE Euronext, the first transatlantic Stock Exchange.
Wall Street is a leading US money center for international financial activities and the most important US location for the implementation of wholesale financial services. "It comprises the matrix of the wholesale financial sector, financial markets, financial institutions, and financial industry firms" (Robert, 2002). The main sectors are the securities industry, commercial banking, asset management, and insurance.
Prior to the acquisition of NYSE Euronext by ICE in 2013, Marsh Carter is Chairman of NYSE and CEO Duncan Niederauer. Currently, the chairman is Jeffrey Sprecher. In 2016, the owner of NYSE Intercontinental Exchange Inc. earned $ 419 million in revenues associated with listing.
Maps New York Stock Exchange
Important event
The exchange closed immediately after the start of World War I (July 31, 1914), but partially reopened on November 28th that year to assist the war effort by trading bonds, and fully reopened for stock trading in the middle of the year. -Desember.
On September 16, 1920, a bomb exploded on Wall Street outside the NYSE building, killing 33 people and injuring over 400. The perpetrators were never found. The NYSE building and several nearby buildings, such as the JP Morgan building, still have marks on their faÃÆ'§ades caused by the bombing.
The Black Thursday crash of the Exchange on October 24, 1929, and the start-selling panic that began on Black Tuesday, 29 October, is often blamed for accelerating the Great Depression. In an effort to try to restore investor confidence, Bursa launched a fifteen-point program aimed at improving the protection of the investment community on 31 October 1938.
On October 1, 1934, the exchange was listed as a national securities exchange with the US Securities and Exchange Commission, with the president and the board of thirty-three members. On February 18, 1971, a non-profit company was formed, and the number of board members was reduced to twenty-five.
One of Abbie Hoffman's famous publicity acts occurred in 1967, when he led Yippie movement members to the Exchange gallery. The provocateurs threw a few dollars into the floor below. Some merchants booed, and some people laughed and waved. Three months later the stock exchange closed the gallery with bulletproof glass. Hoffman wrote a decade later, "We did not mention the press; at the time we really did not have any idea of ​​what was called a media event."
On October 19, 1987, the Dow Jones Industrial Average (DJIA) fell 508 points, a 22.6% loss in a single day, the second-biggest one-day decline the market had experienced. Black Monday is followed by Terrible Tuesday, the day on which the Exchange system is not performing well and some people have difficulty completing their trades.
Furthermore, there was another big drop for Dow on October 13, 1989 - Mini-Crash of 1989. The accident was apparently caused by a reaction to news of a $ 6.75 billion leveraged purchase transaction for UAL Corporation, the parent company of a defunct United Airlines company. When the UAL deal failed, it helped spark a collapse in the junk bond market that caused the Dow to fall 190.58 points, or 6.91 percent.
Similarly, there was panic in the financial world during 1997; Asian Financial Crisis. Like the fall of many overseas markets, the Dow declined 7.18% (554.26 points) on October 27, 1997, which came to be known as Mini-Crash 1997 but from which the DJIA recovered quickly. This is the first time the rule "circuit breaker" operates.
On January 26, 2000, an argument during the filming of the music video for "Sleep Now in the Fire," directed by Michael Moore, caused the exchange doors to close and the band Rage Against the Machine was escorted from the site by security after band members attempted to enter to the stock.
In the aftermath of the September 11 attacks, the NYSE closed for 4 trading sessions, resumed on Monday, September 17, one of the rare times the NYSE closed for more than one session and only the third time since March 1933. On the first day, the NYSE declined 7, 1% in value (684 points), after a week, down 14% (1,370 points). It is estimated that $ 1.4 trillion is lost in five trading days. The NY Stock Exchange is just 5 blocks from Ground Zero.
On May 6, 2010, the Dow Jones Industrial Average posted its biggest intraday decline percentage since the October 19, 1987 crash, with a loss of 998 points later called Crash Flash 2010 (due to a decline within minutes of the rebound). The SEC and CFTC published a report on the event, although it did not arrive at a conclusion about the cause. The regulator found no evidence that the fall was caused by an incorrect order ("fat finger").
On October 29, 2012, the stock market closed for 2 days due to Hurricane Sandy. The last time the exchange closed because the weather for two full days was on 12 and 13 March in 1888.
On May 1, 2014, the stock exchange was fined $ 4.5 million by the Securities and Exchange Commission to resolve allegations of violating market regulations.
On August 14, 2014, A Class shares of Berkshire Hathaway, shares with the highest price on the NYSE, reached $ 200,000 per share for the first time.
On July 8, 2015, technical issues affected the stock market, halting trading at 11:32 ET. NYSE assured share traders that the blackout was "not a result of cyber violations," and the Department of Homeland Security confirmed that there was "no sign of malicious activity." The trade finally resumes at 3:10 pm ET on the same day.
On May 25, 2018, Stacey Cunningham, NYSE's chief operating officer, will become the 67th President of the Great Council, replacing Thomas Farley. She will be the First Female Leader in the History of 226 Years.
Official holidays
New York Stock Exchange closed on New Year's Day, Martin Luther King, Jr. Day, Washington's Birthday, Good Friday, Memorial Day, Fourth of July, Labor Day, Thanksgiving, and Christmas. When the holiday occurs on weekends, holidays are observed on the nearest working day. In addition, the Stock Exchange closes early on the day before Independence Day, the day after Thanksgiving, and the day before Christmas.
Trading
The New York Stock Exchange (sometimes referred to as "the Big Board ") provides a means for buyers and sellers to trade shares in listed companies for public commerce. NYSE is open for trading Monday through Friday from 9:30 am - 4:00 pm ET, with the exception of holidays announced by the previous Exchange.
The NYSE trades in an ongoing auction format, in which traders can conduct share transactions on behalf of investors. They will gather around the appropriate post where a specialist broker, employed by a NYSE member company (that is, he is not a New York Stock Exchange employee), acts as an auctioneer in an open auction market environment to bring buyers and sellers together and manage the actual auctions. They sometimes (about 10% of the time) facilitate trading by doing their own capital and of course spreading information to the crowd which helps to bring buyers and sellers together. The auction process moved towards automation in 1995 through the use of wireless handheld computers (HHC). This system allows merchants to receive and execute orders electronically via wireless transmission. On September 25, 1995, NYSE member Michael Einersen, who designed and developed this system, executed 1,000 IBM shares through HHC terminated the paper transaction process for 203 years and ushered in an era of automated trading.
On January 24, 2007, all NYSE shares can be traded through the electronic hybrid market (except for a small group of stocks at a very high price). Customers can now send orders for direct electronic execution, or route orders to the floor to trade in the auction market. In the first three months of 2007, more than 82% of all order volumes were shipped to the floor electronically. The NYSE works with US regulators such as the SEC and CFTC to coordinate risk management measures in the electronic commerce environment through the adoption of mechanisms such as circuit breakers and liquidity charging points.
Until 2005, the right to directly trade the shares on the exchange was given to the owner of 1366 "seats." This term comes from the fact that up to the 1870s NYSE members sat in chairs to trade. In 1868, the number of seats remained at 533, and this number increased several times over the years. In 1953, the number of seats was set at 1,366. These chairs are a highly sought after commodity because they provide the ability to conduct stock trading directly on the NYSE, and the seat holders are usually referred to as NYSE members. The Barnes family is the only descendant known to have five generations of NYSE members: Winthrop H. Barnes (claimed 1894), Richard W.P. Barnes (claimed 1926), Richard S. Barnes (claimed 1951), Robert H. Barnes (claimed to be 1972), Derek J. Barnes (admitted 2003). Chair prices vary considerably over the years, generally declining during the recession and increasing during economic expansion. The most expensive inflation-adjusted seats were sold in 1929 at a price of $ 625,000, which, today, would be over six million dollars. Recently, seats have sold as high as $ 4 million in the late 1990s and as low as $ 1 million in 2001. In 2005, seat prices soared to $ 3.25 million as the exchange entered into an agreement to join the Archipelago. and become a non-profit, publicly traded company. The chair owner receives $ 500,000 in cash per seat and 77,000 shares of the newly formed company. The NYSE now sells a one-year license to trade directly on the exchange. License for floor trading is available for $ 40,000 and licenses for trading bonds are available for as little as $ 1,000 in 2010. Non-resaleable, but transferable during changes in ownership of companies holding trade licenses.
After the Black Monday market crash in 1987, the NYSE imposed trade restrictions to reduce market volatility and panic-scale sales. After the 2011 rule change, at the start of each trading day, the NYSE establishes three levels of circuit breakers at level 7% (Level 1), 13% (Level 2), and 20% (Level 3) of the average closing price of S & amp ; P 500 for the previous trading day. Decreasing Level 1 and Level 2 result in 15 minutes trading halt unless it occurs after 3:25 pm, when no trade restrictions apply. A Level 3 drop causes trading to stop for the rest of the day. (The largest one-day decline in S & amp; P 500 since 1987 was a 9.0% decrease on October 15, 2008.)
NYSE Composite Index
In October 2008 NYSE Euronext completed the acquisition of US Stock Exchange (AMEX) for $ 260 million in stock.
On February 15, 2011, the NYSE and Deutsche BÃÆ'¶rse announced their incorporation to form a new, unnamed company, where the shareholders of Deutsche BÃÆ'¶rse would own 60% of the new entity holdings, and NYSE Euronext shareholders would own 40%.
On 1 February 2012, the European Commission blocked the NYSE merger with Deutsche BÃÆ'¶rse, after commissioner Joaquin Almunia stated that the merger "will cause a close monopoly in European financial derivatives worldwide." In contrast, Deutsche BÃÆ'¶rse and the NYSE must sell their Eurex derivatives or LIFFE shares to not create a monopoly. On February 2, 2012, NYSE Euronext and Deutsche BÃÆ'¶rse agree to remove the merge.
In April 2011, the Intercontinental Exchange (ICE), the American futures exchange, and the NASDAQ OMX Group jointly made unsolicited proposals to buy NYSE Euronext for approximately US $ 11,000,000,000, an agreement under which NASDAQ will take control of the stock exchange stock. NYSE Euronext rejected this offer twice, but was eventually terminated after the US Justice Department showed their intention to block the deal because of antitrust concerns.
As of December 2012, ICE has proposed to purchase NYSE Euronext in a stock exchange with a $ 8 billion valuation. NYSE Euronext shareholders will receive $ 33.12 in cash, or $ 11.27 in cash and about one sixth of the ICE section. ICE Chairman and CEO Jeffrey Sprecher will retain the position, but four members of the NYSE board of directors will be added to the ICE board.
Opening and closing the bell
NYSE opening and closing bells mark the beginning and end of each trading day. The 'opening bell' was sounded at 9:30 am to mark the start of the trading session that day. At 4 pm ET 'closing bell' is sounded and traded for a day's stop. There are bells located in each of the four main parts of the NYSE that all ring at the same time a key is pressed. There are three buttons that control the bell, located on the control panel behind the podium facing the trading floor. The main bells, which are sounded at the beginning and end of trading day, are controlled by the green button. The second button, colored orange, activates the single-stroke bell used to mark the moment of silence. Thirdly, the red button controls the backup bell used when the main bell fails to ring.
History
Signals to start and stop trading are not always bells. The original signal was a hammer (still used today along with a bell), but during the 1800s, the NYSE decided to replace the hammer for the gong to mark the start and end of the day. After the NYSE changed to its present location on 18 Broad Street in 1903, the gong was shifted to the bell format currently in use.
Today's public scene is a highly publicized event where a celebrity or executive of a company stands behind a NYSE podium and pushes a button that signals the bell to ring. Many consider the act of ringing a bell to be an honor and a symbol of lifetime attainment. Furthermore, due to the amount of coverage received by the opening/closing, many companies coordinate the launch of new products and other marketing related events to start the same day when the company representative rang the bell. This daily tradition is not always well publicized. In fact, only in 1995, the NYSE began to have a special guest who rang the bell on a regular basis. Before that, ringing a bell is usually the responsibility of the floor bourse manager.
Notifier-bell famous
Many people who ring bells are business executives whose companies trade on the exchange. However, there are also many famous people from outside the business world who rang the bell. Athletes like Joe DiMaggio of the New York Yankees and Olympic swimming champion Michael Phelps, entertainers like rapper Snoop Dogg, singer and actress Liza Minnelli and members of the Kiss band, and politicians such as New York City Mayor Rudy Giuliani and South African President Nelson Mandela have the honor to ring bell. Two UN Secretaries-General have also rang the bell. On April 27, 2006, Secretary General Kofi Annan rang the opening bell to launch the United Nations Principles for Responsible Investment. On July 24, 2013, Secretary-General Ban Ki-moon rang the closing bell to celebrate the NYSE joining the United Nations Sustainable Stock Exchange Initiative.
In addition, there are many famous bell-ringer with heroic acts, such as New York police officers and fire departments after 9/11, members of the United States Armed Forces serving overseas, and participants at various organizational charities.
There are also some fictional characters that ring the bell, including Mickey Mouse, Pink Panther, Mr. Potato Head, the Aflac Duck, and Darth Vader.
See also
- The aftermath of the September 11 attacks
- New York City Economy
- The United States economy
- List of American Exchanges
- List of stock mergers in America
- List of Presidents of the New York Stock Exchange
- List of open exchange times
- Rule 48
- Series 14 Exam
- Trading day
- US. Securities and Exchange Commission
- List of stock exchanges in America
References
Note
Bibliografi
- Buck, James E. (1992). Bursa Efek New York: 200 Tahun Pertama . Pub Greenwich. Kelompok. ISBN: 0-944641-02-4.
- Geisst, Charles R. (2004). Wall Street: A History - Dari Permulaannya hingga Kejatuhan Enron . Oxford University Press. ISBN: 0-19-517060-1. Â
- Kent, Zachary (1990). Kisah Bursa Efek New York . Perpustakaan Scholastic Pub. ISBN: 0-516-04748-5.
- Sloane, Leonard (1980). Anatomi Lantai . Doubleday. ISBNÂ 0-385-12249-7.
- Sobel, Robert (1975). N.Y.S.E.: Sejarah Bursa Efek New York, 1935-1975 . Weybright dan Talley. ISBN 0-679-40124-5. Â
Tautan eksternal
- Situs web resmi
- Template: Kalkulator mata uang internasional
- Situs web tentang perdagangan dan pencatatan di NYSE
- Daftar penutupan historis terencana dan tidak terencana
- Liburan NYSE
- "Bursa Efek New York mengumpulkan berita dan komentar". The New York Times .
Source of the article : Wikipedia
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