New York Stock Exchange or NYSE is the oldest US Stock exchange and worlds’ largest stock exchange by total market capitalization of the listed securities. It is a marketplace for nearly 8,000 corporate stocks and securities. Unlike the Nasdaq, it is an auction market where buyers and sellers enter in to competitive bids and offers. On the NYSE, the traffic controller to facilitate market and its working is called as the ‘specialist’.
The exchange was a private organization until the acquisition of Archipelago – an electronic trading exchange after which it turned itself into a public entity which took place on April 21, 2015. Currently, NYSE is owned by Intercontinental Exchange (ICE) a holding company. ICE is listed in NYSE’s list as well. It merged with Euronext on April 4, 2007 to mark the creation of first transatlantic stock exchange. The current chairman is Jeffery Sprecher.
Trading historically happened on the physical trading floor in the building located at 11 Wall Street, Lower Manhattan, New York City, United States. However, more than half of the trade is conducted electronically today. It is a state-of-art building with 21 rooms dedicated to the stock exchange services. The building has been marked as National Historical Mark in 1978 by US government.
NYSE (or the Big Board) allows traders to trade stocks of companies registered for public trading from Monday to Friday between 9:30am – 4pm except on public holidays, which are announced prior by the exchange.
There has been many terrorist attacks on NYSE, September 11, 2001 being the most recent one. In the aftermath, the exchange was closed for 4 sessions which is a rare thing as the exchange usually never closes for more than 1 session.