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New York Stock Exchange .. Why was it called the “big board”?

Dubai: «The Gulf»

“The Big Board,” or “The Big Board,” is the nickname for the New York Stock Exchange, the oldest stock exchange in the United States.

The term has gained traction since the early days of trading on the stock exchange located on 11th Street Wall Street; The stock prices and trading activity are manually updated on a large panel for traders and brokers to display from the trading points.

Today, most trading on the largest exchange ever takes place electronically, with quotes and trading data available digitally, and in real time.

The New York Stock Exchange, the first and most famous stock exchange in the world, was established in 1792 when more than twenty brokers signed the “Baton Wood” agreement.

The New York Stock Exchange (NYSE) acquired its present name in 1863, and the first company to be listed on the stock exchange was the Bank of New York.

auction market

The New York Stock Exchange is an auction market, which means that buyers and sellers enter competitive bids at the same time, and matching bids and bids are paired together and executed. Unlike the Nasdaq, the New York Stock Exchange has an actual trading floor. Stocks, bonds, mutual funds, derivatives, and exchange-traded funds are traded on the big board.

To buy or sell a security listed on the New York Stock Exchange, an investor places an order by contacting a broker or through an online trading account. Once the order reaches the floor of the New York Stock Exchange, brokers and specialists execute the transaction.

The market value of the companies listed on the largest stock exchange in the world exceeded the $30 trillion mark in 2018, before declining to about $26 trillion in 2022. The value of daily trading on the stock exchange exceeds $150 billion and sometimes reaches $200 billion.

Location and building

The New York Stock Exchange is located in the financial district of Lower Manhattan in New York City. The stock exchange’s main building, built in 1903, is located at 18 Broad Street, and the other, completed in 1922, is located at 11 Wall Street. Both buildings were designated historic landmarks in 1978.

The Wall Street neighborhoods of New York are the US financial center for international financial activities and the premier US location for conducting wholesale financial services.

253 days a year

To this day, the market and trading floor are open Monday through Friday, with regular trading session times between 9:30 AM and 4:00 PM EST.

The New York Stock Exchange is closed on New Year’s Day, Martin Luther King Jr. Day, Washington’s Birthday, Good Friday, Memorial Day, 19th National Independence Day, Independence Day, Labor Day, Thanksgiving, and Christmas. When those holidays occur on the weekend, the holiday is celebrated on the nearest day of the week. In addition, the stock exchange closes early on the day before Independence Day, on the day after Thanksgiving and on Christmas Eve. On average, the New York Stock Exchange trades about 253 days a year.

Opening and closing bells

The New York Stock Exchange has many traditions that continue to this day, the most important of which are the opening and closing bell ceremonies that mark the beginning and end of the trading session. The opening bell rings at 9:30 AM ET to signal the start of the trading session, and at 4 PM the closing bell rings and official trading ceases each day. There are bells in each of the four main sections of the New York Stock Exchange that all ring at the same time at the push of a button. There are three bells control buttons located in the control panel behind the platform overlooking the trading floor. The main bell, which rings at the beginning and end of the trading day, is controlled by a green button. The second button, in orange, activates a single-stroke bell used to indicate a moment of silence. The third red button controls a backup bell to be used if the main bell fails to ring.

history

The start and stop signal was not always a bell. The original sign was a hammer, and it is still used today with a bell, but during the late 19th century the New York Stock Exchange decided to replace the hammer with a bell. After the New York Stock Exchange changed to its current location at 18 Broad Street in 1903, the bell was converted to the bell format currently in use.

The common scene today is the highly publicized events; A celebrity or company executive stands behind the NYSE stand and presses the button that says the bells are ringing. Due to the amount of coverage that open/close bells receive, many companies coordinate new product launches and other marketing-related events to begin on the same day company representatives ring the bell. In 1995 the New York Stock Exchange began to receive special guests who ring the bells on a regular basis. Before that, bells were usually the responsibility of stock exchange managers.

the bell rang

Those who ring the bell are usually businessmen whose shares are listed on the stock exchange. There were also many celebrities from outside the business world who rang the bell, including athletes, artists, and politicians, most notably South African President Nelson Mandela. In addition, there were many bells who were famous for their heroic deeds, such as the New York police and fire departments in the aftermath of 9/11.

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