The Nyse, New York Stock Exchange

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The NYSE, New York Stock Exchange, sometimes referred to as the Big Board is located at 11 Wall Street in New York, New York. It is an American stock exchange, and is the world’s largest stock exchange by market capitalization with list companies currently at $16.6 trillion. In 2003 the average daily trading value was approximated at $169 billion. It is measured in dollar volume of activity and total value of shares listed. The NYSE consists of four rooms that facilitate trading. There is a fifth room located at 30 Broad Street also in New York, New York that is used as the infamous trading room. The NYSE is owned by the Intercontinental Exchange which is an American holding company. It was previously part of the NYSE Euronext or NYX. This…show more content…
Having procession of a license allows an exchange member to buy and sell securities in the trading department of the exchange. The cost of a license in 2009 was $44,000. The 2007 merger with Euronext that formed the NYSE Euronext was formed in 2000. This included markets in Belgium, France, Ireland, the Netherlands, Luxembourg, Portugal, and the United Kingdom. This merger made the NYSE the first global exchange. Now trading occurs over 21 hours of every 24 hour business day. The majority of NYSE members are registed as commission brokers. Comisiion brokers are to execute costumer orders to buy and sell their stocks. Their primary responsibility to customers is to get the best price possible for the order they have directed the commission broker. The second largest group of members in the NYSE are the specialist who are assigned dealers for a set of securities. Specialist or market makers are obligated to maintain a fair, orderly market for the securities assigned to them. They keep watch and post bids and ask prices for the securities that are in their care. They make a market by standing ready to buy at bid prices and sell at asked prices when there is a temporary disparity between the flow of buy orders and that of sell orders for a security. The third group of members in the exchange are floor brokers. They are used by the commission brokers to handle the trades when they are busy handling the larger picture. Some commission brokers will
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