New York City: Stock Exchange (NYSE) and New York University (NYU)
Read to find out more about New York Stock exchange (NYSE) and New York University (NYU).
New York has been a tourist destination for years now but then its not only about people coming from all parts of the world and looking at the wonderful city, all amazed and dazed. It has an economy and an academic background as well that makes the city as beautiful and tourist friendly as it is. There is more to New York than Empire State Building, Statue of Liberty and Central Park. Let me take you to a trip of Wall Street today.
New York Stock Exchange (NYSE)
Located at 11 Wall Street this works as the backbone of New York’s economy. It is also called the "Big Board" and let me tell you, it is the largest stock exchange in the world by dollar volume and it has 2,764 listed securities and that is the second largest number of securities that a stock exchange holds in the world. The share volume of New York Stock Exchange was exceeded by that of NASDAQ during the 1990s, still New York stock Exchange comes up to be the largest and biggest financial hub of the world, definitely with London Stock Exchange and Tokyo Stock Exchange to compete with. NYSE Euronext operates the New York Stock Exchange, which is a result of the merger of Archipelago Holdings and Euronext. This momentous place has only four rooms for deciding the fate of the world. There is another trading room located at 30 Broad Street but that was closed recently in February 2007.
The main building of NYSE was made a National Historic landmark in 1978, which is located at 18 Broad Street between the corners of Wall Street and Exchange Place. New York Stock exchange was established sometime around 1792 as a result of the Buttonwood Agreement that was signed by 24 stockbrokers outside 68 Wall Street under a Buttonwood tree which was the site of the stockade fence earlier. In March 1817, it became a proper organization that drafted a constitution and named itself New York Stock and Exchange Board. Anthony Stockholm became its first president. This is how New York Stock Exchange started with only 24 stockbrokers and now it is world’s largest stock exchange.
It provides efficient methods for people to sell and buy shares of stock of companies, which are registered for public trading. It provides the discovery of a price so that the fairest price can be chalked out for both the parties. Since January 24th, a new system of Hybrid market has come to the fore wherein the trading, routing of stocks and execution can be done electronically except for very high priced shares or deals but on the trading floor there is a lot of human interaction and it is a place where people are always busy since they are constantly making decisions, constantly executing expert judgments. There is not a specific place where a listed stock can be traded or a stockbroker can trade. Exchange members who are interested in buying or selling gather around a specific stockbroker who is not a direct employee of NYSE but is employed by an NYSE member firm. He auctions in an open outcry and gets the buyers and sellers together. So this is just little information that I could give about the historical New York Stock Exchange.
New York University
New York University is the much sought after University for the teachers as well as the students. It is the place to know more, experiment with ideas and give more flexibility to your thoughts. This is the place to be for all the academicians and intelligentsia and they are already there. Its campus is situated in the Greenwich Village section of Manhattan. It was founded in 1831 and is a private, nonsectarian, coeducational research university that was founded in the interest of those people who are interested in higher learning. It has a student count of around forty thousand who are a part of the fifteen schools, colleges and divisions occupying six centers across Manhattan. It facilitates its students to go out and study abroad in London, Paris, Prague, Berlin, Madrid, Accra, Shanghai, Florence and even Singapore now is added to the list. United Arab Emirates has also opened avenues for the students of New York University to come and study in Abu Dhabi that would be funded by the government of United Arab Emirates. It has been the Numero Uno dream school of America for four years consecutively now according to Princeton Review. It has been the alma mater and work place for 31 Nobel Prize winners, 9 national Medal Of Science winners, 2 Pulitzer Prize winners, 19 Academy award Winners and many more like Emmy, Grammy and Tony award winners. In spite of being a very urbanized campus it still has student bodies, in fact the very first student fraternities in the country were established in this University.
The mascot of the school is a "bobcat" and almost all the teams participate in the University athletic Association. The university was established when the residents of the city felt that the place needs an institution for their children to go and get education from, which would educate them without any class, caste or creed in mind; the admission to the university would be totally based on the merit of the student, that is when the New York university was established. The logo of the university is an upheld torch, which is derived from the Statue of Liberty and that was designed in 1965. The campus, cultural setting and environment of the University add to its appeal. It has a heritage that can be boasted of and it is on its way to create history.
This is the least I could write about New York Stock Exchange and New York University but I am hoping that those who were not interested and were not too keen to know about these two milestones in the history of New York would certainly want to know more about them, after reading the article.
Check out my other guide on Data Markets Dow Nasdaq Stock
| By Poushali Ganguly Published: 12/6/2007 |
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This post was written by admin on January 24, 2009
