Talk:New York Stock Exchange
From Academic Kids
Leading sentence in para 2: "NYSE trades, unlike those on some other more "virtual" exchanges (e.g. NASDAQ), always involve face-to-face communication in a particular physical location."
NASDAQ is not a 'virtual' exchange, it is a real exchange with read bid and read ask prices. This sentence implies some mock superiority to me. Those that trade on the NYSE do not necessarily do it face-to-face, the technical function of the market isn't necessary toexplain what the market is - perhaps a statement saying the market is technically implemented through a 'specialist', rather than a 'market maker' (like NASDAQ, LSE, etc). Happy to draft a link to 'specialist' v. 'market maker' page (have not found any such article on Wikipedia)... Investopedia explains the difference here (http://www.investopedia.com/university/electronictrading/trading1.asp)
An event mentioned in this article is a May 17 selected anniversary
- The Dow Jones Industrial Average (DJIA) is the oldest stock price measure in use and is what the NYSE is best known for.
Removed. What what sense is the DJIA what "NYSE is best known for"? If this claim has any validity, someone absolutely must explain how it is connected to NYSE. --Ryguasu 08:51 Dec 26, 2002 (UTC)
It'd be great if someone could explain how people/companies become an "exchange member", what their rights/responsabilities are, and how the trades they make on the floor translate back to how an individual person's trades through a broker translate into action on the trading floor. I don't know enough about it to explain this myself. --Ryguasu 19:10 Dec 26, 2002 (UTC)
- I can't put this encyclopediacally, but:
- There are a couple hundred seats, that are traded just like stocks. You got a spare US$1,500,000 or so and one could be yours, so you can trade NYSE-listed companies with the big boys (and one or two girls).
- When I tell my broker to buy me Hasbro, he tells the brokerage's person at NYSE, and he hies himself to the Hasbro specialist broker's booth and buys shares of Hasbro for (he hopes) less than I want to pay for it.
- As for a company being listed, I don't think there's a quota, but the company has to meet certain standards of solvency and stability.
- This is all off the top of my head, and it's not really my field. The NYSE Web site (http://www.nyse.com) may have more info. --Charles A. L. 20:57, Nov 16, 2003 (UTC)
Removed: "This is the longest number of consecutive business days the exchange has ever been closed in its two-century history." after Sept 11. According to the NYSE's own website, the stock exchange was closed for 10 days in 1873, among others. djmutex 21:11 2 Jul 2003 (UTC)
Since a comprehensive list of companies listed on the NYSE takes up about a dozen columns of tiny print in the New York Times, is it meaningful, useful, or necessary to name a handful here? --Charles A. L. 20:57, Nov 16, 2003 (UTC)
- I agree, especially as some of the examples seemed to be picked a bit randomly. I've removed them, but added a reference to the DJIA nearer the top that people can link to if they want examples of NYSE listings. Also tried to address Ryguasu's point above about the link between the Dow and the NYSE being tenuous -- the Dow is supposed to be the list of the 30 biggest listed companies in the US, and while almost every big blue-chip company lists on the NYSE they will always be very much associated with each other. ben 10:03, 18 Jul 2004 (UTC)
NYSE Controversy
I'm thinking of adding something to this page about the recent criticisms people have been making of the NYSE. The main things I am thinking of are:
- the specialist's conflict of interest between maintaining an orderly market and making a profit out of it, including the recent SEC settlement with six big specialist firms
- the NYSE's resistance to electronic trading, and Arca and Instinet's claim that the trade-through rule helps maintain the NYSE's monopoly
- bit more on Dick Grasso and the compensation committee, plus the board's dual role as regulator and maintainer of a profitable organisation.
Oviously a lot of work needs to go into making sure it remains NPOV by giving the NYSE's arguments against all of these criticisms.
What I'm not sure about is whether to have a separate section about it recent controversies, or to extend the article as a whole and then drop in the issues where appropriate (e.g. explain who the specialist is and what they do, then bring in the conflict). Possibly blending it in would suggest a more NPOV than a separate section, but then again they are pretty big issues and their resolution could end up changing the way the securities industry operates dramatically.
Any thoughts? ben 10:19, 18 Jul 2004 (UTC)
Flag
If someone can add notes about when the ginormous flag first appeared, that would be great. I don't remember ever seeing it in TV footage until after September 11, but it might have been used for a special event or something (4th of July, for instance). From what I can tell, it's not usually there today except for special occasions, but I'm halfway across the continent and it's not exactly on my drive to work (even if I had a job ;-)... —User:Mulad (talk) 06:02, Mar 2, 2005 (UTC)
Opening and closing bell
Something should be mentioned about what time the NYSE usually opens and closes. -- AllyUnion (talk) 07:01, 10 Jun 2005 (UTC)
