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HOW TO EXPERIENCE THE NEW YORK STOCK EXCHANGE



BY GABRIELLA HAMMOND



Want to experience the New York Stock Exchange? It’s not the most obvious NYC
attraction, but it’s one of the most defining places for the city. This
birthplace of businesses will forever stand as an anchor of Lower Manhattan’s
financial community.

Compared to its early days, NYSE visits to the stock exchange have changed quite
a bit. But it’s still worth visiting today. Like so many New York landmarks, the
stock exchange isn’t just a building, but a critical part of the city’s history.
And its influence stretches beyond the borders of New York to the rest of the
country and even the world.

Excited about visiting the New York Stock Exchange yet? In this article, I’ll
explain what exactly it is, what you can see when you go, and the best way to
experience it.


WHAT IS THE NEW YORK STOCK EXCHANGE?



The New York Stock Exchange — also known as the “Big Board” — is one of the
oldest and largest stock exchanges on the planet. Located on Wall Street in
Lower Manhattan, the NYSE stands as both a symbol of capitalism and as the
financial center of the U.S.

Easily the most important landmark on Wall Street, the stock exchange
practically created the Financial District by marking the neighborhood as an
area of business. Wall Street was actually named for a real wall, built by Dutch
settlers to keep out British forces. This wall served as an unofficial trading
post for residents, beginning the business traditions that would continue in
this same location for hundreds of years.

When the main building was built in 1903, it impressed everyone with its size
and majesty. The opening solidified the prominence of the New York Stock
Exchange and all but guaranteed that Lower Manhattan would be a neighborhood of
commerce.

And it still is today.


A BRIEF HISTORY OF THE NYSE



It all started on May 17, 1792, when 24 brokers and merchants met under a
buttonwood tree. At the time, this tree was the tallest thing in Lower
Manhattan, which, in retrospect, is a pretty appropriate setting to sign an
agreement that would grow to play a very significant role in both the United
States and global economies.

It was under this tree that these two dozen individuals signed the Buttonwood
Agreement, establishing the grounds for trading at what was then called the New
York Stock & Exchange Board.

That name was shortened in 1863 to what we know today: the New York Stock
Exchange.

Guide tip: To commemorate the document that led to its creation, the stock
exchange planted a new buttonwood tree out front. The tree isn’t nearly as full
or towering as the original, but it’s the symbolism that counts. Snap a pic in
front of the tree and tell all your friends you saw a replica of the most
important tree in NYC — then watch as they’re amazed.


THE NYSE TRADING FLOOR: A NEW YORK LEGEND



The NYSE has always been an exciting place with exciting things happening every
minute. Up until the early 2000s, the trading floor was full of people
frantically running around, shouting numbers and exchanging hand signals with
each other.

The exchange even had a special trading floor clock without hour markers. There
are only five-minute markers, because each trader had just five minutes to trade
their stock. Talk about pressure!

You can imagine how hectic it got in there since, up until the past few decades,
all the trading was done on the trading floor itself. These days, with the rapid
advances in technology and the internet, most trades around the globe have
transitioned to electronic systems. The NYSE is becoming one of the few
remaining trading floors where humans are still actively trading in person.

Now, that doesn’t mean it’s been abandoned. In fact, in 2007, the exchange
adopted a hybrid model that combines electronic and floor-based trading. It
makes the trading floor all the more special because it combines the traditions
of the past with the innovations of the future.


THE TRADING FLOOR TODAY

Although the trading floor isn’t as lively as it once was — with the decrease of
frantic people running around and volume of open outcries — it is still just as
exciting today. Currently, there are approximately 500-1,000 people trading on
the floor each day.

Possibly the biggest change in the demographics of the Exchange is the increase
of outside guests — and we don’t mean tourists wanting to visit Wall Street.
There have been more and more representatives from journalists across the world.
About 33 media outlets come in and out of the building every day to broadcast
from the NYSE floor.


IS THE NYSE OPEN TO VISITORS?



Unfortunately, the exchange is no longer accessible to the public. Here’s why.

After the September 11th attacks and the increase in security that followed,
many buildings once open to the public were severely limited or shut down
altogether. For the stock exchange, it meant no more public tours and security
stands outside the entrance. A fence was even added to the front of the building
to prevent pedestrians from getting too close.

Guide Tip: While the stock exchange is not accessible, around the corner is
another famous financial building — the Federal Reserve, a bank the size of a
block that has a massive gold vault inside.


HOW TO EXPERIENCE THE NYSE EVEN IF YOU CAN’T GO INSIDE



Despite the new security measures, there are still many ways to experience the
New York Stock Exchange without going inside. So there is no need to feel left
out!

Here are a few suggestions if you want to visit the NYSE.


LISTEN FOR THE BELL




Every weekday, the opening bell of the NYSE is rung at 9:30 a.m. to mark the
start of the day’s trading. The closing bell is then rung at 4 p.m. to mark the
end. When the guest ringing the bell fails to ring it for the acceptable amount
of time — 10 seconds for the opening bell and 15 seconds for the closing bell –
it’s not uncommon for the floor to erupt into boos (they take their bell ringing
very seriously). If you are lucky enough, and happen to show up on the right day
and time, you just might hear it emanating from outside.

In the past, the bells used to be rung by floor managers, but they later started
inviting executives, public figures, and celebrities to ring them, which became
a daily event. Who knows who you may spot by the NYSE and its surrounding areas
if you show up at the right bell-time?

The opening and closing bells are one of those things both New Yorkers and
non-New Yorkers alike have to experience at least once in their lifetime. Just
don’t show up on a weekend or a U.S. holiday when the bell definitely won’t be
ringing.


SNAP A SELFIE WITH A BRAND BANNER



For the past two decades, the stock exchange has started a tradition of hanging
“full façade” banners to celebrate and market special events and their listed
companies.

Some of the past banners include the huge logos of:

 * Ford
 * IBM
 * SAP
 * Twitter
 * Instagram

On special holidays, like Independence Day, the American flag will hang proudly
across the building. There’s no way you could miss it. The NYSE loves to build
their brand with companies they work with. Maybe you’ll spot the logo of a
business you love hanging grandly in front of the building.

Don’t feel shy about snapping a picture (or a few — no shame) in front of it.
You get the iconic New York Stock Exchange and a larger-than-life example of NYC
marketing without even having to go to Times Square. That’s a double whammy.


TAKE A TOUR OF WALL STREET




Unlike other monuments, experiencing the New York Stock Exchange isn’t as simple
as buying a ticket. Most people walk right by or snap a picture and leave. It’s
the history and significance that make it special. But unlike the Statue of
Liberty or the Empire State Building, this history isn’t displayed in a museum
or exhibit for you to browse on your own.

The best way to learn about it is with a guide — but not just any guide, a Wall
Street insider. That’s just what our guided tours of Wall Street do. You have
two options when you visit Wall Street: an in-depth tour for NYC finance
aficionado or an entertaining overview of Wall Street, New York City.

Here are our two Wall Street tours:

 * 2 hours: Our award-winning Financial Crisis Tour is our in-depth tour. We
   cover the famous landmarks and dig into what happened during the 2008
   financial crisis and its long-term effects on the stock market. We’ll even
   teach the finance lingo related to the crisis.
 * 75 minutes: If you prefer something a bit shorter that delves into both the
   history of Manhattan and its financial hub, then the Wall Street Insider Tour
   is for you. You’ll still be touring with an insider, but the focus is more on
   the overall history of the American economy.


SEE HOW THE NYSE CELEBRATES THE HOLIDAYS

Credit: Omnibus / CC BY-SA 3.0

The NYSE hangs banners for their listed companies and for special occasions, but
there are also certain days throughout the year reserved for special events.

One of these is during the holidays. Every year, there is a Christmas tree
lighting on Broad Street, in front of the New York Stock Exchange. Lights are
coiled around the exchange’s Corinthian columns and around a massive pine tree.
The moment when the single switch is flipped to light up the entire NYSE is
truly an amazing sight. Listed company sponsors, artists, and partners all stop
by to celebrate the holiday season. It’s one of the oldest Christmas tree
traditions that brings the public to the NYSE.


WHAT ARE SOME OTHER THINGS TO DO ON WALL STREET?



Wall Street has plenty of other fun and historical sites to see. Before or after
your visit to the stock exchange, you can check out:

 * Fearless Girl, a bronze statue promoting female empowerment, directly across
   from the NYSE
 * Federal Hall, a former treasury turned museum dedicated to George
   Washington’s presidential inauguration
 * Trinity Church, a historic Gothic Revival church with a pretty cool Hamilton
   connection
 * Fraunces Tavern, the city’s longest-running restaurant


VISIT WALL STREET NYC FOR THE NYSE AND MORE



It’s difficult to process all of this information about one building while
simply standing outside the entrance, especially if you’re trying to do it on
your own.

If you think about it, very few landmarks in the city still actively serve their
original purpose. The New York Stock Exchange may be quieter than it once was,
but the culture and buzz is as resounding as ever. However you feel about money
or business, the stock exchange is a must-visit. Its creation gave New York
power and status that still, to this day, contributes to making the city one of
the greatest in America.

That’s part of why we love this corner of NYC here at The Wall Street Experience
and enjoy sharing our insider perspective. On our Wall Street walking tours, you
won’t learn just the history (though we’ve got plenty of that, too). We share
real-world stories from people who’ve worked inside the financial trenches of
Wall Street. Their insight will help you see this place in a new light — not as
facts and figures or even dollar signs but through the eyes of the people who
have made it what it is today.

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