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NYSE Stock Exchange
NYSE Stock Exchange History
The
New York Stock Exchange traces its origins to a
founding agreement in 1792. The NYSE registered as a national
securities exchange with the U.S. Securities and Exchange Commission
on October 1, 1934. The Governing Committee was the primary
governing body until 1938, at which time The Exchange hired its
first paid president and created a thirty-three member Board of
Governors. The Board included Exchange members, non-member partners
from both New York and out-of-town firms, as well as public
representatives.
NYSE Stock Exchange Board of Directors
In 1971 The Exchange was incorporated as a
not-for-profit corporation. In 1972 the members voted to replace the
Board of Governors with a twenty-five member Board of Directors,
comprised of a Chairman and CEO, twelve representatives of the
public, and twelve representatives from the securities industry.
Subject to the approval of
the Board, the Chairman may appoint a President, who would serve as
a director. Additionally, at the Board's discretion, they may elect
an Executive Vice Chairman, who would also serve as a director.
The NYSE Composite Index reflects the U.S. equity market
on an even broader basis. The more than 3,000 common stocks listed on
the New York Stock Exchange, Inc. represent some 46 separate industry
classifications. This capitalization-weighted index measures the changes
in aggregate market value of all the NYSE common stocks.
NYSE Exchange Composite Description
The Index is frequently adjusted to eliminate the
influence of corporate actions (mergers and spin-offs) to ensure
that it reflects only movements resulting from actual stock price
changes. Since they began trading in 1982/1983, NYSE Composite Index
futures and options have served the diverse goals and strategies of
risk managers and speculative investors. The NYSE Composite Index
contracts allow investors to take a position on the overall
direction of the entire equities market without regard to style or
sector.
NYSE Exchange
Composite Options
The New York Stock Exchange Composite Index is a
capitalization-weighted index of all common stocks listed on the New
York Stock Exchange. The index currently encompasses more than 2,600
common stocks.
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