NYSE – What is it?
The New York Stock Exchange (NYSE) is the largest securities exchange in the world. It’s located in the heart of lower Manhattan, New York city at 11 Wall Street, and was founded on the eight of March 1817. It is undoubtedly one of, if not the, most important stock exchanges in the world.
Traditionally trades at the New York Stock Exchange are conducted in an auction format where securities are bought and sold on a continuous basis throughout the day. Trades occur on the exchange floor between 9:30 am and 4:00 pm Monday thought Friday (except for holidays). Since 2007 traders have been able to submit trades electronically for immediate execution via the NYSE’s hybrid market.
The New York Stock Exchange is the market for the stocks of some of the largest corporations in the world. Wal-Mart, IBM, Time Warner, Exxon Mobile, Citigroup, and General Electric are all traded on the New York Stock Exchange. The total market capitalization of the NYSE is over $16 trillion US dollars and is home to more than 2,000 listings. The New York Stock Exchange along with NASDAQ represent all the stocks in both the Dow Jones Industrial average and the S&P 500.
One of the most recognized symbols and traditions at the New York Stock Exchange, apart from the traders frantically trading securities on the trade floor, is the ringing of the opening and closing bell. On a practical level, the ringing of the opening and closing bell represents the start and end of the trading day on the NYSE. Most of the people who right the bells are top executives of the companies trading on the NYSE, on days of popular IPO’s the founder or CEO of the company making their IPO may be given the honor to ring the opening bell.