The New York Stock Exchange(NYSE) also known as the “Big Board”, is a stock exchange located at 11 Wall Street, New York, USA. When it comes to market capitalization, NYSE is the World’s largest stock exchange. It is operated by NYSE Euronext and is made up of 5 rooms for trading purpose.
NYSE came into existence on May 17, 1792, when an agreement was signed under the buttonwood tree on Wall Street. It came to be known as NYSE when the first centralized location in the form of a room was located on 40 Wall Street. There are approximately 2,750 companies listed in NYSE reaching a combined capitalization of around $ 25 trillion.
NYSE is open from 9:30 am to 4:00 pm on all working days. This is the core trading time, the Opening Auction takes place from 04:00am - 09:28am, the Market Order Freeze Period from 09:28am - 09:30am, the Closing Auction Run is 4:00pm, the Extended Hours are from 4:00pm - 8:00pm and the limited orders cancellation time is 8:00 pm.
However not all companies are listed on the stock exchange and there are some requirements for the companies that should be met with. There are financial requirements for NYSE and these are – the listed company should have a pre-tax income for last year of $2,500,000 , $2,000,000 for the last two years, 1,100,000 publicly held shares which should have a market value of $100,000,000 and the minimum number of holders should be around 2,200 with around 100 shares or more for each one.
The average number of shares that are traded daily on NYSE has increased steadily. Prior to 1960, around 3 million shares were traded daily and now the number has exceeded 2 billion shares/day. Due to this substantial increase, the amount of dollars that flow in through it each day is the maximum across the world.
