History of the Stock Market

2441 Words Oct 9th, 2005 10 Pages
The financial markets of the United States, today, are collectively known as "Wall Street." These words represent the heart of the business and financial world in the United States today. Many of us conjure up well known images of companies being bought and sold, traders screaming out to get the best prices for their clients, fortunes won and lost many times over, and the billions of dollars exchanged in deals. Some may even claim that it is the "Crystal Ball" that can predict and control the economy. Wall Street actually does exist, physically, in New York City. It became the symbol of financial dealing from its own history of being the base of the large scale business dealings in Colonial America. Wall Street has also become the …show more content…
The organization was now called the New York Stock and Exchange Board or NYSE. Later in 1846, astonishing advancements in telecommunications technology enabled a new openness to the business of the stock market.
In 1844 Samuel Morse demonstrated the first successful telegraph line. Immediately a communications revolution knitted together the entire content of the United Sates. This technology revolutionized trading by allowing up to the minute information to be used in trading and selling of stocks from cities all across the US. By 1851, daily reports of transactions could be posted and distributed shortly after the close of the market. The first ticker was invented and introduced into trading in 1867. It remained in use until it was supplanted by the "black box" ticker which was replaced in 1957 by the 900 ticker which automated the market floor. The 900 ticker allowed traders on the floor to see current stock prices. Super DOT was introduced in 1984, this electronic routing system let traders make computer trades which increased the number of orders. Further more, the stock market was advanced in 1991 with off-hours trading which made the NYSE even more automated. Now the NYSE was the nation 's finical heart, which overtook Philadelphia at the start of the canal boom. At the turn of the Millennium, the NYSE abandoned the long tradition of stock prices in fractions

More about History of the Stock Market

Open Document