Tag Archives: Nyse

Talking About The American Stock Exchange.

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Hi, I’m going to talk about the American Stock Exchange right now. By the way this financial institution is also known as AMEX and it located in New York. I should say that from the very beginning this stock exchange was considered to be a mutual organization. Moreover it had another name at that time. I mean the period before 1929. Excuse me, but I don’t remember this name. you can find it by yourself if it’s interesting for you. It was taken over by NYSE and to be exact it happened in 2008. The whole acquisition process was finished this year in October.

I’d like to stress that this stock exchange comes from the colonial times. So some stock brokers started up their spontaneous outdoor markets exactly in the New York City. Their purpose was to trade new government-issued securities. In 1842 AMEX started its financial activity. To be exact at that time it was situated on Broad Street close to Exchange Place. So once these brokers gathered by mail boxes and made lists of stocks for sale. They were the first in this field. Then their financial activity increased and dealers joined them. I should say that at that time special stock hand signals were invented and from that moment the trading system was normally understood by all the participants of the trading process. I should say that in 1921 the market shifted to so called indoor premises situated at 86 Trinity Place, Manhattan. And those signals were officially recognized as means of communication on the stock exchange. By the way this building became a real National Historic Landmark. To be exact it was officially declared in 1978.

By the way 1990s are known for very important events in the world of stock exchange. So at that time AMEX united with NASDAQ and as the result a new company appeared. And this company was famous worldwide too. So AMEX remained an independent character on the stock market together with NASD as its parent company. But then very soon in 2004 AMEX took over NASD. AMEX was famous for its extremely liberal policy regarding the company listing among these three major American Stock Exchanges. In fact the vast majority of the listed companies were rather small when compared with such stock exchanges as NYSE and NASDAQ. By the way exactly so called hybrid securities dominated on that stock exchange at that time.

By the way terrorist attacks of September 11 had a great impact on this AMEX. As the result the trading process stopped and then shifted to the Philadelphia Stock exchange. I hope you remember that scaring time for the financial world. I hope you’ve learnt much about the history of the American Stock Exchange.

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Talking About Stock Exchange Symbols.

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Hi, I’m going to talk about so called stock exchange symbols right now. Currently stock exchange symbols can’t be considered to be ideal because when using them you can’t even find out which stock is being traded on in this particular moment for example. I really feel sorry for this but to my great regret it’s truth and accordingly you should take it for granted.

But the main thing is that not so long ago you really could identify traded stock with the help of those symbols. To be exact things went wrong exactly in 1997. But before this everything was OK from my point of view. For example before 1997 you always had an opportunity to define a particular stock as being traded on the NYSE. Of course we all know for sure that the NYSE appeared to be the first stock exchange and accordingly only on this stock exchange the first companies could be listed. It was the era of two letter stock exchange symbols.

As you know then the epoch of NYSE came to its end and the AMEX arose. As the result from that moment three letter stock exchange symbols were attached to the corresponding companies. So the stocks shifted to the AMEX and to the NYSE. So at that time every company with three letter symbols attached started trading on the AMEX or the NYSE accordingly.

It goes without saying that we shouldn’t forget about the NASDAQ. I should add that any stock symbol including more than three letters was usually traded exactly on this stock exchange at that time. Of course you want to know why it happened. The matter is that one law was passed. And that law regulated changing the stock exchanges for trading companies. So that was the reason.

I should say that according to the first regulation stock exchange symbols containing three letters and traded on the NYSE were allowed to shift to the NASDAQ while preserving the same symbol. As you might have guessed very soon the policy got loosened and as the result more and more companies started moving from exchange to exchange.

As you know currently companies are allowed to move anywhere. For example you can shift your company from the NYSE to the NASDAQ and certainly it doesn’t matter what a symbol is attached to your company. Of course the NYSE is considered to be the most prestigious one among all the exchanges around the world.

By the way you know that a lot of stock exchange symbols include from one to four letters. And certainly you haven’t come across companies with five letters yet. Perhaps you aren’t attentive enough, because they really exist. In fact you can find more information about them on the net by yourself.

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