NYSE Introduced
The NYSE, or New York Stock Exchange is a place where securities and stocks are traded. It is the oldest and largest exchange in the US, and also a major player in the global market. Happenings at the NYSE help to mold the economy of America, and they also influence the country's sense of well-being- as evidenced by the stock market crash of 1929 that led to the Great Depression.
The NYSE was established in 1792, with the drafting of the Buttonwood Agreement. After several moves, it settled into its current home at 11 Wall Street in NYC. The NYSE has 1,500 employees, and it is run on a nonprofit basis. It oversees trades and sales, and helps to set policy within the industry.
The NYSE lists over three thousand companies, and in order to be listed, a company must offer stock, list an income over $2.5 million per year, and submit annual reports to the SEC. Once listed, a company can trade on the exchange either directly or through other traders who act as brokers. Like many other exchanges, the NYSE does most of its trading electronically. The trades are carried out through members who have bought seats on the exchange.
Along with other financial businesses, the NYSE plays a defining role in the shaping of American financial and economic policy. The exchange's goal is to provide a safe environment in which trades can take place, and they are continually pushing for additional regulation of the industry. The trading floor is crowded and chaotic, so the job is not for the faint of heart.