New York Stock Exchange (NYSE)

by Investing School on August 6, 2010

The New York Stock Exchange is a stock exchange that is located in New York City, New York. It is specifically located on 11 Wall Street in lower Manhattan. It is the largest stock exchange in the world by measure of the United States dollar value with the companies’ listed and their accompanying securities.

The New York Stock Exchange was created on May 17, 1792. This occurred when 24 stock brokers who were standing outside of 68 Wall Street in New York City signed the Buttonwood Agreement. It was called the Buttonwood Agreement because it was signed by the brokers under a buttonwood tree. In 1817, there was a constitution that was drafted and the organization was renamed the “New York Stock & Exchange Board”.

Aside from the daily trading, there have been some significant events that have occurred at the NYSE. Shortly after World War I began in July 31, 1914, the stock exchange closed its doors for a while but then partially re-opened its door on November 28th in the same year in order to assist with the war effort by trading bonds.

Many are aware of Black Thursday which is the day the market crashed on October 24 of 1929. It was followed by Black Tuesday when people were in frenzy and were trying to sell off all of their stocks.

The New York Stock Exchange is now run by NYSE Euronext. This was established in 2007 through a merger with the stock exchange Euronext.

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