Posts Tagged ‘nyse’
Stock Exchange Trading – Richard Grasso and the NYSE
July 11th, 2010
Richard Grasso and the NYSE
Richard Grasso was born in New York City in 1946 and was chairman of the New York Stock Exchange for 8 years from 1995 until 2003. His career on Wall Street began in 1968 when he began working as a clerk. Grasso was also president of the exchange during the September 11, 2001 terrorist attacks on the World Trade Center and his leadership was considered to be a major factor in getting the exchange up and working so quickly after the attacks.
Grasso grew up in the city and was raised by his mother. He joined the Army after attending university for two years, and it was upon his exit from the Army that he began working as a floor clerk on Wall Street. The rest, as they say, is history. Grasso worked hard and moved up, through the ranks, and by 1995, he was president. Although his tenure with the NYSE would end in controversy, he was thought to be a major force in keeping the stock exchange one of the top financial markets in the world.
Four years into his reign atop the NYSE, a controversy began when Grasso invited a group of members from the Revolutionary Armed Forces of Columbia (FARC) to the floor of the stock exchange. It is still unknown why Grasso would associate himself with an organization that the United States government considers to be a terrorist group that uses illegal drug sales to fund their war against the Columbia government. During the meeting, Grasso is reported to have said that he was bringing a message of cooperation from United States financial companies, since FARC has been known to preach anti-capitalism ideals. A scene like this today in the post-9/11 world is unfathomable.
Grasso’s downfall was precipitated by his receipt of what is known as a deferred compensation pay package. The reason why this was a problem was because the package was worth 140 million dollars, and the people who agreed to give it to him, the compensation committee, had been hand picked by Grasso and the members were made up of representatives of companies that traded on the New York Stock Exchange. An obvious conflict of interest led to Grasso stepping down as the chair of the exchange on September 17, 2003.
You can read more about Grasso and NYSE, and how the NYSE Compensation Controversy ended Here.
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The market closed on August 1, 1914, but what shocked so many was that the market didn’t just close for a day or two, it closed for four months. While by today’s standards, the idea of no trading for four months seems outrageous and basically impossible, traders in that time felt exactly the same way.
Bob Pisani reports on the trading day from the NYSE.
Market Update: Bank of America (NYSE:BAC), JP Morgan Chase
Breaking stock news for Bank of America (NYSE:BAC), JP Morgan Chase (NYSE:JPM), Merck (NYSE:MRK), Boeing (NYSE:BA)
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Stock Exchange Trading – NYSE During WWI
July 9th, 2010
NYSE During WWI – Why the Shut Down?
The history of the New York Stock Exchange is littered with colourful stories that feature soaring stocks and bonds, horrible crashes, as well as ceremonies to mark significant moments in history and even simple holidays.
When World War I broke out in 1914, the governing body of the New York Stock Exchange decided to suspend trading. In retrospect, an initial closing was probably a good idea since holdings in Europe of American securities were more than likely going to be extremely unstable. The shut down was considered to be an emergency measure, but a necessary one to keep the market from crashing altogether.
Birth Certificates Traded On NYSE Stock Exchange – How Much Is Your’s Worth? Who Owns It?
The market closed on August 1, 1914, but what shocked so many was that the market didn’t just close for a day or two, it closed for four months. While by today’s standards, the idea of no trading for four months seems outrageous and basically impossible, traders in that time felt exactly the same way. The only other time up to that point in the history of the NYSE that there was a closure was during the Panic of 1873, which featured over 30 firms on Wall Street to go out of business. But even then, the exchange only closed for 10 days, not months. So, what was the cause of this extended closure?
One of the major reasons was the president at the time Woodrow Wilson. He felt it was very important for all the Federal Reserve banks to be up and running before the stock market was reopened. But Wilson’s treasury secretary kept the market closed even after those banks were online. Why? The emergence of a secondary and much smaller trading market called the New Street Market had opened, and while it was a far cry from the organization and scope of the NYSE, it did help relieve some of the pressure that not having the NYSE open caused.
The New Street market was never really taken seriously by major business. The New York Times and the NYSE made sure the New Market didn’t gain any traction in the city. The NYSE heavily lobbed the government to reopen so they could put an end to the New Market once and for all.
The NYSE was kept closed for four months mainly out of fear of a crash that would plunge the economy into a recession or an all out depression. The New Market helped to get some trading done and when the proper safeguards were in place, the NYSE reopened.
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Fannie, Freddie Dropped from New York Stock Exchange
The Federal Housing Finance Agency (FHFA) directed the government-sponsored enterprises (GSEs) in June to de-list from the NYSE and any other national securities exchange.
Top 10 New York Stock Exchange
A look at the 10 biggest volume decliners on New York Stock Exchange at the close of trading
Most active New York Stock Exchange
A look at New York Stock Exchange 10 most-active stocks at the close of trading
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Stock Market Trading
December 9th, 2009
If you are new to investing, you should learn the vocabulary used on Wall Street as soon as possible. “Stock Market” is not just a place where a lot of people shout out numbers and runs all over the place. So, first you must know what is stock?
Stock can be described as the wealth or capital that has been raised company or a corporation from the issuance of shares.
If you own stock in a Yahoo company, that would make you a shareholder in Yahoo. If 
you take all the shares available from Yahoo or any other company and put them together, that is called Yahoo’s market capitalization. This is figured by multiplying the current price of stock times the number of shares.
There are four major categories of stocks. Those categories are: common stock, preferred stock, duel class stock and treasury stock. Common stock is the most common kind of stock available. Ownership of common shares usually comes with some voting rights when it comes to decisions made by the corporation. Preferred stock is stock that get paid more dividends and usually come with extra rights and decision making abilities for the company that they are for. Dual Class stock is a combination of the previous two kinds of stock and the rights attached to each share vary. Finally, treasury stocks are shares that were once issued to the public, but have since been bought back by the company.
The Dutch East India Company was the first company that began offering shares of their stock in 1602. It was the pioneering company which came up with the idea of joint ownership. In this way the Dutch East India Company helped the economic growth in Europe at that time.
Nowadays, the most popular place to trade stocks in the United States is the New York Stock Exchange.
The world of economics and stock trading is very exciting and also very profitable for those that know how to trade stocks, but it can be very risky for those who trade without sufficient knowledge of trading stocks
More Information about Stock Market:
Is The Stock Market Rally Tired?
Watching the stock market action lately, I recall one of my favorite Mel Brooks movies, “Blazing Saddles”.
How does one start playing the stock market?
I’m pretty much a beginner in this, but I’ve always been interested in the stock market. Is it possible to start out with say $100 and just experiment and learn how everything works?
How can I make money in the stock market right now?
Tips and information about today’s contemporary stock market would help immensely; recommending the best books about this topic would be very kind of you as well.
Indian Stock Market on 9th December, 2009 The Indian market retreated and lost some of its yesterday’s gains on the back of weak global cues.
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Stock Exchange History
February 25th, 2009
A stock exchange is simply a place where stocks are traded. Obviously, in this day and age, the New York Stock Exchange is much, much more than that. Not only is stock traded there, but also bonds, securities, commodities and countless other things are traded there, too. The NYSE has become so well known throughout the 
world that it has evolved from a place to do business to a genuine tourist attraction. The history of the market, combined with the wealth and power that resides within its walls makes it a must-see for any tourist visiting New York City. But how did we go from a dirt road trading post on the outskirts of a small village to a marble and stone monolith like the New York Stock Exchange?
While the location of the very first stock exchange is somewhat controversial, it is believed that the original exchange was located in the Egyptian city of Cairo around the 11th century. It is thought that Jewish and Islamic merchants dealt in stock and commodities trading. This goes against most common beliefs that the Italians were the ones who actually invented the stock market.
The first appearance of stock brokers can be traced back to France in the 12th century. A person known as the courratier de change was saddened with the job of regulating and managing the debts and finances of communities that were based on agriculture for the local banking system. They were also known to trade the debts that they kept records of.
During the next century, French commodity traders started to become more organized, and groups that would meet on a regular basis to trade began sprouting up all over Western Europe.
The first evidence of trading of government securities was seen by Venetians in the 1200’s. The government of Venice soon outlawed the practice of rumour spreading with the intent of lowering prices of government-issued securities.
Within the next few hundred years, the Dutch were the first who started stock companies that let their shareholders have a piece of profits, and losses. The Amsterdam Stock Exchange was the first exchange to offer the idea of continuous trade as early as the 17th century.
The road from dusty marketplace to organized stock exchange has been a rocky one, but the evolution is unmistakeable. With the current trend of moving away from floor traders and to computerized trading, no one knows what the stock exchange of the future will look like, but one thing is for certain, the market will continue to change over time, no matter what.
More Information about Stock Exchange:
Three-quarters worried about savings rates, says Which? . Base rate reduction ‘will hurt savers’ . 2009 London Stock Exchange plc.
Iraq Dinar Forum, Iraq Investments, Iraq Stock Exchange, Iraq Bank, Iraq News, Iraqi Dinar
Dow, S&P 500 fall to 1997 levels as sagging confidence pulls stocks lower
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Posted in stock market | 
Tags: new york stock exchange, nyse, nyse history, stock exchange history | 
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