Wall Street Stock Exchange
The Wall Street Stock Exchange is description for the New York Stock Exchange. Second in the world only to the NASDAQ, the New York Stock Exchange, or the NYSE lives on the corner of Broad Street and Wall Street in New York City. While this exchange is a mainly physical one, which will be expressed later on in this article, the exchanged formed a marriage with Archipelago, an electronic stock exchange. But how exactly does the Wall Street Stock Exchange work, what is its history and what is the future of this second largest exchange in the world? Read more to find out! The Structure of the NYSE According to the New York Stock Exchange, there are two types of "members" on what is called the Trading Floor. The floor broker works for a client and buys and sells stocks for him or her. House Brokers and Independent Brokers are the two kinds of floor brokers found on the Trading Floor. House Brokers work on behalf of "large, diversified broker-dealers." According to the New York Stock Exchange, these broker dealers have been called 'investment houses' or 'banking houses.' How does it work? The house broker works for the firms' customers or on their firm's account. Independent Brokers work only for the "large brokerage houses," according to the New York Stock Exchange. The NYSE considers independent brokers 'agent entrepreneurs' which do business for the public and receive income from commissions. Types of Companies Involved There are several different types of companies that are part of the New York Stock Exchange. They can be divided into the following industries as classified by the NYSE: Oil and Gas, Basic Materials, Industrials, Consumer Goods, Health Care, Consumer Services, Telecommunications, Utilities, Financials, and finally Technology. Each of these is divided into sectors and sub-sectors. The Oil and Gas industry, for example, has several sub-sectors in under it. These include exploration and production companies such as the Goodrich Petroleum Corporation. The next is integrated oil and gas, with companies such as the Exxon Mobile Corporation and the Chevron Corporation. The next sub-sector is the oil equipment and services such as Baker Hughes Inc. Finally there are pipelines to be considered, and this is the last sub-sector. Companies included are the Atlas Pipeline Partners, and the El Paso Corporation. A Brief History According to the NYSE, the origins of the NYSE began in 1792. The most significant event in history of the Exchange was Black Tuesday, which set off the Great Depression.