History of the New York Stock Exchange.
- Posted by admin on July 3rd, 2011 filed in Uncategorized
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The New York Stock & Exchange Board was established in 1817, formalizing an agreement signed by about two dozen stock brokers in the early 1790s. In 1863 board officially changed its name to the New York Stock Exchange, and two years later its offices were moved to Broad Street.
NYSE continued to grow in volume over the next several decades, and in 1901 a contract for a new building was awarded. The familiar neoclassic design of today’s NYSE building was selected, and the building was completed in slightly less than two years.This/tag helps explain it more.
Over the years, additional trading space was added as the Exchange grew. However, once electronic trading was introduced, a number of additions to the NYSE building were closed. Today, most of the space occupied by the NYSE is in the original 1901 structure.
The crash of the stock market in 1929 is often cited as the beginning of the Great Depression, which lasted until World War II. A smaller yet still significant crash occurred on October 13, 1987. The largest drop in trading volume since 1987 occurred on May 6, 2010, when the market dropped nearly 1,000 points within just a few minutes, rebounding later in the day.