New York Stock Exchange
The New York Stock Exchange was the name given to an organisation that dates back to 1792. During this year, a group of stock brokers came together to sign the Buttonwood Agreement. This group later formed the New York Stock & Exchange Board in 1817. In 1863, the organisation changed its name to the New York Stock Exchange (NYSE). Today, the New York Stock Exchange holds the title of being the largest stock exchange in the world in terms of dollar volume. At the end of 2006, the New York Stock Exchange had a combined capitalisation of 25 trillion dollars. The NYSE is under NYSE Euronext, which is an American-European merger.
Trading times at the New York Stock Exchange begin at 9:30am and end at 4:00pm Eastern Time. Ever since 2007, all but the most exclusive stocks are traded over the New York Stock Exchange Hybrid Market. The Hybrid Market allows users to send orders for execution electronically. Likewise, electronic orders can also be routed to the auction floor for trade. As such, the New York Stock Exchange makes use of both electronic systems and outcry auctions to complete transactions. While many other stock exchanges have adopted fully-electronic markets, the New York Stock Exchange maintains their Hybrid Market system.
