Essay about History Of New York Stock Exchange

Essay about History Of New York Stock Exchange

Length: 1609 words (4.6 double-spaced pages)

Rating: Better Essays

Open Document

Essay Preview

History Of The New York Stock Exchange
Nowadays the world 's main trading platform is considered to be the New York Stock Exchange (NYSE). Not only for the United States but also for the whole world of finance, it is the great and major exchange. In the history of its creation, an important date is 1792. The year when twenty four brokers in New York signed the Buttonwood Agreement on the establishment of a new stock exchange in order to be able to limit their commission fees .
However, as we know it today The New York Stock Exchange begins its history in the year 1865 when it has acquired its own building with a white facade with six columns built in the Corinthian style . Since that day the building became a symbol of the American stock market. The second half of the nineteenth century was an unprecedentedly generous to all kinds of innovations in the New York stock exchange trading. At the time the exchange was only a few steps from the modern methods of trading. Nonetheless, trading operations in the stock market were performed not by the owners of shares, but mainly by specialists. In 1866 London and New York became bounded with transatlantic telegraph cable and since then the rate of pound sterling against the dollar is often called - "cable" . In 1867 the first stock ticker has appeared: via telegraph system investors were able to almost instantly find out the current stock quotes, being thousands of kilometers away from the exchange itself. New York’s stock market has kept pace with the progress .
At this time only the lucky owners of "place" which was provided for the lifelong period by the decision of the Governing Council could trade on the NYSE (New York Stock Exchange). However, in 1868 the Board of Governors of the N...


... middle of paper ...


...he suspension of futures trading until the end of the war .
To conclude, today the global economy is much more liberal than in the years of the Second World War. It took almost a century to rebuild the world the degree of openness of the economy and international trade, which existed before the outbreak of the First World War. The main forces guide the development of exchange business in the first half of the twentieth century, were two world wars and the economic downturn in the period between the two. As a result of political and economic instability at this time was the need for safeguards against adverse effects of market forces on the economy of countries. Nowadays, The New York Stock Exchange still supports the image of the one of the biggest exchanges in the World and a big white building in the heart of New York is still a symbol of the American trade market.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

The New York Stock Exchange Essay

- The two things that could make a human gullible is either not being prepared or being over prepared. This is because listening to someone who is rich and powerful makes you believe that you are also something great, but not everyone is truthful of what they say and instead they act for their own self-interest. This story is directly related to lies, deception and karma. It all begins in 2007, I was just admitted at the New York Stock Exchange for a position of a stock broker. I graduated with a 4.5 GPA and I got offers from many companies from all around the world but I decided to follow my father’s advice and he always use to say to me: “Son…Go for your dreams, but never lie to yourself and...   [tags: Stock market, Stock, Stock exchange]

Better Essays
895 words (2.6 pages)

Essay about The New York City Hall

- Journal Entry 3: Lower Manhattan Our third adventure in the course was in Lower Manhattan also known as the Civic Center. Coming from Queens I usually take the N train coming from Astoria to the city so I was running a bit late. I was never great with directions or the subway in general but I impressed myself when I was able to take the train downtown and meet up the rest of the class. I met up with my class in the Civic Center where City Hall stood. I rarely go to lower side of the city mostly because I always found it to be a bit duller compared to the rest of Manhattan....   [tags: New York City, Manhattan, World Trade Center]

Better Essays
1086 words (3.1 pages)

The Great Depression Of The New York Stock Exchange Essay

- During the 1920s the New York Stock Exchange was a bustling place where many were investing and making money on their returns. Many made fortunes purchasing stocks and waiting for the value to escalate and then immediately selling them thereby making a profit. Suddenly the stock market crashed on October 29, 1929 eliminating 40% of the value of common stock in America. Stock prices plummeted as investors rushed to sell their assets before they lost everything. This was the start of The Great Depression....   [tags: Great Depression, Wall Street Crash of 1929]

Better Essays
827 words (2.4 pages)

Foreign Exchange Markets Now And Then Essays

- Foreign Exchange Markets Now and Then From the beginning of man-kind there has been buying selling and trading. Rice for corn, gold for coal, liquor for tea are just a few examples of trade from the beginning. But how could man-kind make this easier if they did not have anything to trade. How about a monetary system, something that you could give that is worth money. This is still trading but instead it is trading goods for other goods this is trading goods for money. What happens when you decide to trade internationally....   [tags: Economics History Foreign Exchange]

Free Essays
1079 words (3.1 pages)

Bank of New York Essay

- Executive Summary Founded in 1784, the Bank of New York is the oldest bank in the United States. It was the first bank in New York that opened just months after the departure of British troops from American soil in lower Manhattan. During that time period the monetary system was complex and confusing. The founders decided that The Bank of New York wasn’t going to be a common institution that capitalized on land; it focused on specie, which is money in coins. Then in 1792 the first corporate stock to trade on the newly established New York Stock Exchange was the Bank of New York....   [tags: essays research papers]

Better Essays
2800 words (8 pages)

The Bank of New York and it's History Essay

- The Bank of New York and it's History On February 23, 1784, a small advertisement appeared in The New York Packet, one of the many New York newspapers of that era. This advertisement announced that prominent New York citizens had established a bank. The bank, established by the prominent, would not officially open for business until June 9, 1784. That bank would come to be known as the bank of New York. Alexander Hamilton, a well-known New York attorney, was asked to write the constitution of the new bank....   [tags: essays papers]

Better Essays
1617 words (4.6 pages)

Foreign Exchange Markets Summary Essays

- As Americans our nation has been protected from role of money as a commodity. Americans enjoyed a world where the dollar was the main currency of exchange and stability throughout the last half of the Twentieth Century. European citizens frequently travel to a next-door nation whose currency is entirely different than their own and where their own currency would not be accepted, and American’s travelling to Canada or Mexico could be fairly sure merchants would accept their Dollars. As the first decade of the 21st Century now draws to a close, on the other hand a shock may be in store for Americans....   [tags: American Dollar Currency Exchange Research Paper]

Free Essays
1196 words (3.4 pages)

The Financial Roller Coaster Essay

- The Financial Roller Coaster Current tallies of the New York Stock Exchange, the NYSE, have equated its assets to nearly fifteen-trillion dollars, which does not even cancel out our national debt. The NYSE was officially opened in 1792, since then many people have become extremely wealthy while some have even became extremely poor. Our country has benefitted from the stock exchanges too, by creating jobs and influencing the economy in positive and negative ways. The United States economy and the stock market seem to share many relations, such as the repeating economic cycle of thirty years; which demonstrates the upswings and downswings of the NYSE....   [tags: New York Stock Exchange]

Better Essays
1086 words (3.1 pages)

The Discovery Of The New World And The Columbian Exchange Essay

- Entry 1 In chapter one of the study book by Foner Eric, we learned about the discovery of the New World and the Columbian exchange. Some of the notable first Americans who settled in the newly discovered land included Indians, mound builders who resided along the Missisipi River, western Indians and those who lived in the eastern north America. It is also crucial to mention that the New World was robust with activities such as construction work. It is most likely the early inhabitants of America shaped the land and reputation of this region as we know it today....   [tags: Slavery, Atlantic slave trade, British Empire]

Better Essays
1288 words (3.7 pages)

Historic New York and Its Diversity Essay

- New York City has always been an example of how diversity can exist in a successful and peaceful place. Full of action, enthusiasm, and a combination of many cultures, New York is rich in every sense of the word. For example, taking a walk down the busy streets not only opens your eyes to the small but meaningful details of the city and the different people that revive it but also the numerous worlds that are somehow fused in this magical city, like Little Italy, Chinatown, Little Syria, Korea Town, and many others....   [tags: liberty, city, culture, trip]

Better Essays
937 words (2.7 pages)