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Topic: NYSE


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In the News (Sun 22 Nov 09)

  
  New York Stock Exchange - Wikipedia, the free encyclopedia
The origin of the NYSE can be traced to May 17, 1792 when the Buttonwood Agreement was signed by twenty-four stock brokers outside of 68 Wall Street in New York under a buttonwood tree.
The NYSE was closed from September 11 until September 17, 2001 as a result of the September 11, 2001 terrorist attacks.
On April 21, 2005, the NYSE announced its plans to acquire Archipelago, in a deal that is intended to bring the NYSE public.
en.wikipedia.org /wiki/Nyse   (1046 words)

  
 NYSE Rulemaking: Release No. 34-48502; File No. SR-NYSE-2002-35 (Notice of Filing of Amendment No. 4 to a Proposed ...
As originally proposed, a literal reading of proposed NYSE Rule 446, could have suggested that the rule would require members and member organizations to create, maintain, and periodically review a BCP that would have to be effective in enabling them to continue their business in the event of a future significant business disruption.
The NYSE believes that the proposed rule change, as amended, is consistent with the requirements of the Act and the rules and regulations thereunder applicable to a national securities exchange and, in particular, with the requirements of Section 6(b)(5) of the Act.
The NYSE does not believe that the proposed rule change, as amended, would result in any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act.
www.sec.gov /rules/sro/34-48502.htm   (3057 words)

  
 washingtonpost.com: NYSE Fundraisers Draw Scrutiny
NYSE officials declined this week to disclose the names of members of Congress and the dates they had fundraisers at the club.
NYSE officials said that under Grasso they lobbied against splitting the exchange's operation as both a member-owned business and a regulator, but that could change.
The NYSE has its own political action committee, though its donations have fallen off in recent years, from a high of $238,000 to federal candidates in 1997-98, to $179,000 in 1999-00, to $125,500 in the last election cycle.
www.washingtonpost.com /ac2/wp-dyn/A2443-2003Sep25?language=printer   (1343 words)

  
 NYSE News
NYSE Chair Richard Grasso announced yesterday that the Big Board was walking away from three and a half years of negotiating a deal with the city to build a subsidized new trading floor across the street from its current Wall Street location, according to a Bloomberg News report.
According to a Bloomberg News report, the NYSE is considering establishing a facility in the suburbs that would both ease crowding on Wall Street and provide a way to keep trading from being interrupted as it was on September 11th.
At a meeting on May 16th, the city proposed to the NYSE that it contribute as much as $900 million rather than the original $450 million to the building and outfitting of a new trading floor across the street from its current location, according to a report from The New York Times.
www.goodjobsny.org /nysenews.htm   (1939 words)

  
 Invest FAQ:Exchanges:The New York Stock Exchange
The NYSE uses an agency auction market system which is designed to allow the public to meet the public as much as possible.
To become a NYSE spec the normal route is to go to work for a specialist firm as a clerk and eventually to become a broker.
Some of the guides used by the NYSE for an original listing of a domestic company are national interest in the company and a minimum of 1.1 million shares publicly held among not fewer than 2,000 round-lot stockholders.
invest-faq.com /articles/exch-nyse.html   (731 words)

  
 USATODAY.com - Critics say human frailties taint NYSE   (Site not responding. Last check: 2007-10-22)
In general, the seat owners were pleased with Grasso's ability to preserve the NYSE's position as the world's premier stock exchange, but they were aghast when they learned that Grasso and his board of directors had funneled so much of their money into the pockets of management.
But with Grasso gone, NYSE members face an emboldened enemy in the ideological war over whether their human auction system is superior to the ECNs.
In fact, the NYSE is investigating the five major specialist firms for irregular trading activity, and the results of its findings are expected soon.
www.usatoday.com /money/markets/us/2003-10-14-nyse_x.htm   (1886 words)

  
 NASD+NYSE Rulemaking: Rel. 34-48745 (re: Relating to Corporate Governance)
In addition, the Commentary to NYSE Section 303A(7)(a) would require that each member of the audit committee be financially literate, as such qualification is interpreted by the board in its business judgment, or must become financially literate within a reasonable period of time after his or her appointment to the audit committee.
NYSE Section 303A(12)(a) would require the CEO of each listed company to certify to the NYSE each year that he or she is not aware of any violation by the company of the NYSE's corporate governance listing standards.
In this regard, the NYSE tightened the definition of "independent director" to state that an employee of the company (or an individual whose immediate family member is an executive officer) is not independent until a specified period after the end of such employment relationship, which is similar to a provision that was proposed by Nasdaq.
www.sec.gov /rules/sro/34-48745.htm   (13962 words)

  
 MSN Money - Company Focus -- Unequal justice: Can the NYSE police itself?
During the backup, according to NYSE documents, he and several other floor brokers take advantage of better prices in the very same securities, potentially costing the public tens of thousands of dollars in lost profits.
In August 2001, a lowly sales assistant at a regional brokerage, however, is barred for life by the NYSE for ringing up $1,500 in personal expenses on her corporate card.
To nail NYSE specialists with an actual crime, as opposed to a violation of the rules of a self-regulatory body, one must determine intent.
moneycentral.msn.com /content/P63639.asp   (2071 words)

  
 SRO Rulemaking: SR-NYSE-98-45
Resetting the NYSE Rule 80A triggers on a quarterly basis to retain alignments with the 2% and 1% thresholds of the DJIA would be consistent with the procedures currently used by the securities markets to reset the point triggers for the 10%, 20%, and 30% cross-market circuit breaker trading halts.
The Commission agrees with the Broker-Dealers that care needs to be exercised by the NYSE in its interpretation of the proposed definition of index arbitrage so that the collar restrictions are not applied to activities that are not typically associated with index arbitrage and not reasonably implied by the language of Rule 80A.
The Commission understands that the NYSE regulatory staff has been diligent in working with program trading firms over the past few years to clarify which types of intermarket trading strategies are subject to the collar provisions of Rule 80A and the Commission urges the Exchange to continue these efforts.
www.sec.gov /rules/sro/ny9845o.htm   (2564 words)

  
 SEC Authorizes Formal Investigation of Matters Raised in Webb Report
The NYSE has referred the Webb report, which focuses on the compensation of former NYSE Chairman and CEO Richard Grasso and the process by which the compensation was determined, to the Commission and the New York Attorney General.
The NYSE responded on June 5, 2003 to the SEC's request with an initial governance report and interim structural changes, but indicated that a more thorough review was to be conducted under the direction of a Special Governance Committee.
While the NYSE's review was still underway, the Commission learned of the NYSE's extension of former Chairman Grasso's employment agreement, as well as its substantial payout of his deferred compensation and benefits.
www.sec.gov /news/press/2004-3.htm   (410 words)

  
 New York Stock Exchange (NYSE): NYSE Listing Requirements and Historical Records
The NYSE may at any time suspend or delist a security where continued dealings in the security are not considered advisable, even though a security meets or fails to meet any specified criteria.
The listing agreement between the company and the NYSE is designed to provide timely disclosure to the public of earnings statements, dividend notices, and other information which might reasonably be expected materially to affect the market for securities.
The NYSE requires actively operating companies to agree to solicit proxies for all meetings of stockholders.
www.cftech.com /BrainBank/FINANCE/NewYorkStockExch.html   (891 words)

  
 NYSE Definition
The NYSE is responsible for setting policy, supervising member activities, listing securities, overseeing the transfer of member seats, and evaluating applicants.
In order to facilitate the exchange of stocks, the NYSE employs individuals called specialists who are assigned to manage the buying and selling of specific stocks and to buy those stocks when no one else will.
Of the exchanges, the NYSE has the most stringent set of requirements in place for the companies whose stocks it lists, and even meeting these requirements is not a guarantee that the NYSE will list the company.
www.investorwords.com /3370/NYSE.html   (342 words)

  
 Forbes.com - Magazine Article   (Site not responding. Last check: 2007-10-22)
In the wake of allegations of improper trading by some specialists, the NYSE is staunchly maintaining its stance that it is not contemplating an end to floor auctions.
In Kovelsky's view, if the NYSE were to end floor trades, one very likely result is that the exchange would at first lose volume to the ECNs, which have low overheads and could underbid the exchange on transaction fees.
He pointed out that the NYSE, which already has invested $2.5 billion in electronic technology, currently is executing about 1.4 billion trades a day, and 99% of its transactions are electronic.
www.forbes.com /2003/10/07/cx_lw_1007nyse_print.html   (815 words)

  
 NYSE, New York Stock Exchange > Market Information   (Site not responding. Last check: 2007-10-22)
The NYSE offers a variety of tools to help market professionals and investors monitor trading activity and keep the pulse of the market.
NYSE indexes provide investors and issuers with benchmarks that measure the world’s largest securities market as well as its key segments.
The NYSE data library is a collection of tables, many of which are downloadable, that track various aspects of NYSE market activity.
www.nyse.com /marketinfo/1089312752882.html   (257 words)

  
 Trading the NYSE BPI
The NYSE BPI was created in 1955 by celebrated Chartcraft analyst A.W. Cohen, the same market genius responsible for the famed Investors Intelligence Sentiment Survey.
While this quick strategic overview of the NYSE BPI relative to recent stock-market performance is encouraging, it doesn’t address the great challenge of real-time analysis.
For example, if the NYSE BPI reaches 71% and then slides back down through 65%, a 6% reversal, then PandF speculators consider a speculation signal to have been flashed and promptly deploy their contrarian trades.
www.zealllc.com /2003/nysebpi.htm   (3094 words)

  
 Corp Law Blog: Is the NYSE a Quasi-Governmental Agency?
Chairman Donaldson's terse letter to the NYSE is available here and his list of questions for the NYSE is available here.
Agency spokeswoman Laura Cox said Donaldson, who was chairman of the NYSE from 1990 to 1995, believes the pay of the exchange chairman should be comparable to that of a top government regulator.
I can see how Chairman Donaldson, who became NYSE chairman after making his fortune elsewhere, would view his tenure at the NYSE as a public service, while Dick Grasso, a 30-year employee of the NYSE, would view his role at the NYSE more like that of a CEO of a private company.
www.corplawblog.com /archives/000191.html   (618 words)

  
 Investor's Business Daily: Breaking News
The question is, should the NYSE continue its march toward modernization or should it hold onto its unique open-outcry auction system.
Goldstein believes the NYSE would lose its reputation as the best market for companies because electronic trades are believed to create more volatility in the market.
About 10 percent of trading on the NYSE is done electronically, but that number could swell significantly under the proposal.
www.investors.com /breakingnews.asp?journalid=22608247&brk=1   (1240 words)

  
 CBS News | Suit Filed to Bar NYSE-Archipelago Merger | May 9, 2005 22:19:49
The NYSE said in a statement it had reviewed the complaint and "found that it is completely without merit.
A group of seat holders led by former NYSE director Kenneth Langone and former Credit Suisse First Boston CEO John Mack held a meeting April 25 with representatives of a number of Wall Street firms who were reportedly angry with the terms of the deal and Goldman's involvement.
However, his attempts to push through change in the NYSE's governance structure _ including adding two seat holders to the NYSE board and the repurchase of 366 seats in order to boost lagging seat prices _ were defeated at last month's NYSE annual meeting.
www.cbsnews.com /stories/2005/05/09/ap/business/mainD89VU44G0.shtml   (712 words)

  
 Ideoblog: NYSE
Goodbye to S (and G and T) Today's W$J notes the end of the famous Sears trading symbol, leaving the NYSE after 95 years, and the possible end of the Gillette and ATT symbols because of their mergers.
Eliot Spitzer's suit to recover Grasso's overcompensation by the NYSE is discussed by the WSJ's Holman Jenkins, Professor Bainbridge (with a link to the complaint and a WSJ summary) and Houston's Clear Thinkers (summarizing the Jenkins article).
Answer, per Jenkins: Reed and the NYSE power structure want this sticky problem off their backs so they don't have to muck around with the powerful securities professionals and get into questions that could jeopardize the future of the NYSE.
busmovie.typepad.com /ideoblog/nyse   (1610 words)

  
 NYSE, New York Stock Exchange > About the NYSE   (Site not responding. Last check: 2007-10-22)
The NYSE is home to some 2,800 world-class companies with a total global market value of $20 trillion.
Learn about the NYSE position on a variety of important trading issues and how they impact all market participants.
The NYSE actively supports charities and organizations that help improve people’s quality of life and increase public confidence in the financial markets.
www.nyse.com /about/1088808971270.html   (200 words)

  
 Looking beyond the NYSE system - Oct. 21, 2003
The NYSE uses traders known as specialists to match customer orders, and when there is an imbalance in orders, the specialists and their firms commit their own money to ensure orderly trading in the stocks.
Although the NYSE is clearly the biggest and highest-profile exchange, it's not the only game in town.
An Archipelago spokeswoman said the SEC is looking at possibly reforming the ITS as part of a restructuring at the NYSE and is already doing a trial reform that was recently extended through next March.
money.cnn.com /2003/10/14/markets/instinet_markets   (819 words)

  
 NYSE McClellan Oscillator   (Site not responding. Last check: 2007-10-22)
The NYSE McClellan Oscillator is a breadth-based indicator that measures the difference between a 39 and 19 day exponential moving average of the net differential of NYSE advancing issues minus declining issues.
The NYSE McClellan Summation is a longer-term version of the McClellan Oscillator and is more suited to major trend reversals.
A rising Summation Index indicates the overall breadth trend is bullish, which should correspond with generally rising prices, while a falling Summation Index indicates negative breadth trend and generally coincides with a steadily falling market.
www.stockmarkettimer.com /examples/ny.htm   (160 words)

  
 nyse stock quote   (Site not responding. Last check: 2007-10-22)
NYSE Chief Grasso to Recover Part of $139.5 Million Pay New York Attorney General Eliot Spitzer sued Richard Grasso, the former New York Stock...
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www.mia-marketing.com /stock/nyse-stock-quote.html   (391 words)

  
 New York Stock Exchange - NYSE
The NYSE also oversees the transfer of members' seats on the Exchange, judging whether a potential applicant is qualified to be a specialist.
The NYSE uses floor traders (people) to make trades, whereas the Nasdaq and many other exchanges are computer driven.
The Tale Of Two Exchanges: NYSE And Nasdaq - Learn some of the important differences in the way they operate that the securities that trade on them.
baystreet.investopedia.com /terms/n/nyse.asp   (137 words)

  
 Printer Friendly Version - NYSE eager for respect   (Site not responding. Last check: 2007-10-22)
Indeed, the NYSE has taken several steps to deal with the breakdown in corporate governance that led to Grasso's big pay.
In addition to rebuilding the NYSE's reputation, Thain said he also wants to focus on improving the exchange's relationship with its customers and keeping competitors from spiriting away any NYSE listed companies.
The ad campaign polishing the exchange's image debuts just as the NYSE and the Nasdaq are competing to win the listing of new shares from Google - the hottest IPO of the year.
www.nydailynews.com /business/v-pfriendly/story/190485p-164769c.html   (398 words)

  
 NYSE to upgrade, expand e-trading - Computerworld   (Site not responding. Last check: 2007-10-22)
The NYSE filed a request with the U.S. Securities and Exchange Commission seeking approval for the proposed change to its operations, which would shift more transactions away from the manual auction system that now dominates the exchange's trading floor.
But the NYSE said that the expansion of its 3-year-old NYSE Direct+ order execution system likely won't start to be phased in for another 12 months or so.
NYSE CEO John Thain said the exchange will continue to offer trades via floor brokers because they add a "human judgment" to the process.
www.computerworld.com /developmenttopics/development/story/0,10801,95105,00.html?f=x604   (1140 words)

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