Fifteen years after the USA officially became a country, a small group of merchants and stockbrokers took our nations motto to heart ("United We Stand; Divided We Fall") and created the first stock exchange. No building of their own, not even an office, but they
persevered and prospered.
Twenty-five years later they formulated a constitution establishing formal rules of operation and conduct and designated their 'organization' the New York Stock & Exchange Board. They also bit the bullet and rented a small, second-floor room in a building at 40 Wall Street. Rent was $200 per YEAR!
And the business flowed in and the small group grew and prospered. In 1865 they moved into
a five-story building at 10 Broad Street. They also shortened the name of their organization to the New York Stock Exchange. Over the next thirty years they outgrew and enlarged their quarters, outgrew and enlarged, until, finally, in 1901, they decided the building had to go. They were ready to build a new building - their own - from scratch. |
Their new 'Exchange Building', at 18 Broad Street, was ready for occupancy in 1903. It was (and is) like a palace - designed in the classical-revival style in vogue at that time. Over the next twenty years they grew and and outgrew their new building. They added an additional building, the one at 11 Wall Street. Then, in 1956, they added 20 Broad Street to their Exchange.
Computerization became necessary and utilization of floor space changed drastically. More space was added, existing space converted, until, today, the New York Stock Exchange boasts the latest in market information display technology.
The New York Stock Exchange is more than just a place to trade stocks. One of their missions is education. They have been very involved in the creation of multi-media formatted programs and even have some educational programs on their web site.
Since 9/11 disaster, tours
inside the building are not permitted.
See: www.nyse.com |
