New York Stock Exchange NYSE

The NYSE is a non-profit organization run by a committee of directors consisting of ten representatives of groups of intermediaries and a president, working all the time. The representatives of the public come from all directions and currently include company directors, faculty members, a former diplomat and director of the retirement pension fund. The representatives of the professional operators cover a wide range of activities within or outside the bag and even outside New York.

They are members of the Steering Committee who have the responsibility to establish work programs and policies of the bag. The senior staff is responsible for the implementation of such programs and policies.

The number of NYSE members is 1366. Membership is gained after professional justification, by purchasing a seat for a member wishing to sell theirs. Of the 1366 members all belong except 140, which may not be members of the stock, they are nevertheless subject to the same scrutiny as the members themselves, but do not have access to the sessions, since they are not members. Of the 523 NYSE member firms, approximately 440 are related to the public. The remaining part deals with other "brokers" or "dealer." Many companies intermediary relationship with public relations are important, with a very diversified internal organization by enabling a variety of financial transactions which include: the purchase of shares or obligations on behalf of individual or institutional investors, the guarantee new issues, the sale of shares in mutual investment funds, the launch of the management of these Mutual Funds, trading in commodity exchanges, acting as "dealer" for certain values, often substantial amounts. However, some companies specialize in only one or two of these functions. (Zachary & Kent, pp. 24-26)

The NYSE is subject to the same time, the decisions of its Board of Directors and control of the SEC. Most members of the NYSE have offices in virtually every city some major U.S. Many of them have opened offices in Canada, Latin America, Europe and Asia in fact a significant proportion of the activity of the NYSE comes from foreign orders.

History

In 1792, 24 brokers signed an agreement on the basis of the first organized site for stock trading. In this way, they wanted to limit their charges commissions for securities trading. The treaty also called Buttonwood Agreement, named after the tree under which they have entered into this agreement. In 1817, the broker creates the New York area for the exchange of shares on a regular basis (New York Stock Exchange Board). In 1853, the New York area introduced the concept of listing of shares trading (listing). To be listed on the NYS & EB, the company had to meet certain conditions in terms of capitalization (market capitalization - the number of all outstanding shares of this company capitalization = Price * Volume). In 1863, NYS-EB renamed the New York Stock Exchange (NYSE). In October of 1929 ("Black October"), a series of large losses caused a wave of bankruptcies of large shareholders (investors) ...