History of the Nyse
History of the Nyse
History of the NYSE:
The origin of the NYSE can be traced to May 17, 1792, when the Buttonwood Agreement was signed by 24 stock brokers outside of 68 Wall Street in New York under a sycamore tree on Wall Street which earlier was the site of a stockade fence. On March 8, 1817, the organization drafted a constitution and renamed itself the “New York Stock & Exchange Board”. Anthony Stockholm was elected the Exchanges first president.The first central location of the NYSE was a room rented for $200 a month in 1817 located at 40 Wall Street. The NYSE was destroyed in the Great Fire of New York. It moved to a temporary headquarters. In 1863 it changed its name to the New York Stock Exchange (NYSE). In 1865 it moved to 10-12 Broad Street. In 1896 the Dow Jones Industrial Average was established by the Wall Street Journal with an initial value of 40.74.
Volume of stocks traded had increased sixfold in the years between