The New York Stock Exchange Today Market

The New York Stock Exchange today MARKET has its inception in May 17 92 New York when 24 brokers signed the Buttonwood Agreement at 68 Wall Street. The NYSE also lists American and non American equities as well as government and other debt securities.
Traders use systems and discernment on the floor while DMM combines both to add value and security to the system. The value of a seat changed with time but nowadays they can be bought.

The NYSE Floor

The most iconic area of the NYSE a 16000-sq foot floor area has bore witness to tremendous transformations within the last 10 years. Hoards of elbow throwing and shouting traders used to be a common feature but these days algorithm is employed for most of the exchange activities at the floor level.

Those who still operate at the level of trading known as Ramp use hand held computers that allow wireless access to enter instructions into the computers and utilize the technology eye used for trading stocks. These people get the attention of TV viewers on a normal day and they can be watched at trading floor posts of the times between opening and closing of markets as information about prices of the shares is screamed out.

The Neue Dorr’s current Pitch is an exquisite and dignified room with Georgian marble walls and a Delhi-like ceiling wood four feet above the traders’ heads. It was built by George B. Post, who fashioned it after the palace of Versailles and includes two-story colonnades that frame a large pediment sculpted by John Quincy Adams Ward that portrays Business and Industry.

This is a room that generates a lot of interest, especially when the market is busy. The reconstitution of the FTSE Russell index on June 25 is a very good example. It had a volume that was almost six times the average for a day. The new pitch on the floor of the NYSE incorporates the use of light interface with the use of human judgement and appraisal. It also allows floor brokers to better serve their clients’ orders by enabling them to stir interest in the Designated Market Makers during their auction with new CAP-DI order types.

The Buttonwood Tree

This hardy tree can be seen growing in groves along the coastal areas of Florida and makes an excellent tree in many landscapes. It is persistent to full sun and sandy soils, saline conditions as well as brackish water. Even in the broken shade and wet soils in hammocks, it is able to do well. Its dense crown makes it an excellent tree for use along streets or in parking lots. The variety ‘Mombo’ is denser in crown than the species, making it ideal for the city.

The mottled exfoliating bark of this tree is its most distinctive feature. While all trees create new space for expanding trunks by stretching and splitting their bark, buttonwood does it in a most theatrical way by growing new bark, lying with a distressing bark in disproportionate segments and grey, brown and green coming to the forefront upon the sunlight. This gives the trunk a distinctive gnarled and twisted shape as a feature.

By 24 brokers under the Buttonwood agreement, the NYSE came to be. The seat registered at the NYSE became one of the most sought after assets because it allowed for direct intervention with the stock market. According to an 1897 painting that was done by Frances Guy, this trade took place under a specific trader. However, despite the location, the value of one seat fluctuated based on economic markets. The NYSE however is focused primarily as a stock exchange that hosts global trade all year apart from the nine factors listed above which included significant dates. The NYSE does however work for roughly 253 days in a calendar year.

Every business day in the NYSE has bell times set aside for sessions and trading hours. As effective measures, the alarms work in a way that once the bell is pressed all sound off. The announcement of the closure or commencement of trade hours is quite interesting, because for the NYSE a gavel and brass alarms were two instruments that played a pivotal role throughout the years.

Every business day starts around 9:30 AM when the opening bell is rung by a designated person. There is also a closing bell at 4 PM, marked by NYSE staff as well, who are firm about the tradition of bell ringing. During one of the trading sessions, a floor member told the guest ringing the bell that he/she had not rung it well enough for the standard set. Guests that are designated to ring the opening or closing bell are usually people connected with the stock market or who have been associated with it in the past – for example, singer Liza Minnelli, Olympian Michael Phelps, or rapper Snoop Dog. Other times, it is the many world leaders who get the special honor of ringing the bell supposing there is a special occasion.

Shortly after the bell rings, the markets start ‘Moving’, and so the CNBC’s show called “CW’s Last bell” goes live mark the commencement of the new activity. Experts in the field analyze the respective markets about the price activity that has recently taken place and sold till around 4 pm ET. The show is co-anchored by Scott Wapner, Morgan Brennan and Jon Fortt.

The Complete Façade

The NYSE can be a surprise to many as it stands among the important landmarks of New York City, not just the Statue of Liberty or the Empire State Building. Pictures are to be taken outside as one is not allowed inside the NY Stock Exchange albeit screen time at work. All that is said, the stock exchange is as vital to the city as the Brooklyn Bridge and Times Square are.

The NYSE neo-classical façade was built by George B Post and it was fully realized in 1903. The granite edifice has a colonnaded two-storied podium at its eastern and western frontages that face Broad Street and New Street respectively, fifteen in number. Also depicted above these columns is a pediment added with sculptural reliefs by John Quincy Adams Ward on American trade.

2003 marked the large structured trading floor that was the New York Stock Exchange, and amazed onlookers with the scope and feeling that it accentuated. This only served to reiterate the importance of Wall Street and further amplified the likelihood that lower Manhattan would only be business area.

The US securities market has been dominated by the NYSE but with the rise of electronic exchanges, this is bound to change. However, the trading floor where teams of traders used to scream and yell their transactions has been replaced with a new form where most of them stay in front of computers streaming appropriated algorithmic playbooks into a stronghold of intelligence gadgets. Nonetheless the stronghold when coupled with algorithmic trading is losing its stronghold with the rise of some platforms like IEX as explained elaborately in Michael Lewis’ best seller Flash Boys and Bats Global Market.