About The New York Stock Exchange
Synopsis
Some documentations list the beginnings of the NYSE or otherwise known as the New York Stock Exchange to begin in May 17Th 1792. At the time of its humble beginnings it only had about 24 stock brokers working together to form the stock brokerage. All this was and still is on the same named street called Wall Street.
NYSE
As it expanded over the years it has changed locations but has retained always kept the “wall street” tag. It is known to be the largest stock trading house in the world and at last statistical count it was listed to be trading daily at about USD153 billion. The statistics also showed that at one time it had a market capitalization of its listed companies at the huge figure of USD13.39 trillion. These are all mind boggling figures and it is rather amazing to note the amount of paper transactions that are done on a minute to minute basis.
This powerful form of trading which is facilitated by the NYSE provides the platform for buyers and sellers to trade share of stock in companies registered with the board for public trading. Keeping to the age old working time frame of a five day working week of Monday to Friday, its runs from 9.30am – 4.00pm, closing only for holidays previously set and declared by the Exchange in advance.
Though when first observed it can seem quite chaotic and loud, there is an underlying system in place which is very familiar to all on the trading floor. The “buying and selling” is done at a very fast and energetic pace and the alertness of an individual plays an extremely big role in getting the transactions done according to requirements of clients or customers. These “customers” or clients usually appoint brokers to do the trading on their behalf sometimes with specific guidelines and some leaving the decisions to the discretion of the brokers hired.