What would the world be without New York’s Wall Street, the financial capital of the planet? This street is unlike any other street you’ll drive down in your New York car rental as it is home to the New York Stock Exchange, where millions of dollars can be made or lost in a matter of seconds. But Wall Street hasn’t always been the be-all and end-all of the financial district. In fact it was once a wall! Built in 1644 by the Dutch on the lower end of Manhattan “Island” was a wall used to protect the settlers from British attack. Years later this wall was torn down and the notorious Wall Street was born.
The first organized American stock exchange took place in 1792 under a buttonwood tree in Castle Garden (now Battery Park). Twenty-four men participated in the exchange, signing an agreement of rules, regulations and fees. From that day forward a building at 22 Wall Street was used to auction of securities to the highest bidder every weekday at noon. This original organization was called The Stock Exchange Office and was a very exclusive club of New York’s elite financial community. In 1817 the name was changed to the New York Stock and Exchange Board, which was once again changed in 1863 to its current title of New York Stock Exchange. The NYSE has had its share of ups and downs during its long history, the most notable low occurring on October 29th 1929 when the Stock Market Crashed, causing millions of dollars to be lost and many investors to be ruined financially.
Today the New York Stock Exchange is the world’s leading and most technologically advanced equities market. Buyers and sellers meet daily in an open and orderly market to access the complicated rhythm of supply and demand. On any given day an average of 1.46 billion shares valued at a mind boggling $46.1 million dollars will be traded of the NYSE! The NYSE is home to over 2,800 world-class companies that have a total global market value of over $20 trillion! Approximately 470 non-US companies invest in the NYSE from 50 different countries making Wall Street the home of the world’s largest market. Companies listed on the New York Stock Exchange range from private investors to well known “blue chip” organizations which include many of the world’s leading technology companies. All of these companies must meet stringent requirements before being allowed to partake in market business.
If you’re interested in learning more about the New York Stock Exchange, why not take a drive to Wall Street in your New York car rental and take part in a guided tour? The NYSE is one of New York City’s top 10 tourist destination and attracts over 700 000 visitors world wide each year! The New York City Stock Exchange tours are fun and educational, combining interactive displays with helpful information sessions. For more information regarding the guided tours please visit the New York Stock Exchange’s website at www.nyse.com or call 212-656-5165. Admission is FREE but tickets are first come first serve so be sure to drive over in your New York car rental early! Groups of ten or more require reservations. Special Private Trading Floor tours can be arranged for special occasions, but please not that all men must wear a jacket on the trading floor at all times!
If you would like to by some New York Stock Exchange souvenirs be sure to visit Wall Street in your New York car rental. There is a NYSE Marketplace Gift Shop which sells t-shirts, mugs and all sorts of other gift paraphernalia.