New York Stock Exchange

The New York Stock Exchange (NYSE), sometimes known as the "Big Board", is an American stock exchange located at 11 Wall Street, Lower Manhattan, New York City, New York. It is by far the world's largest stock exchange by market capitalization of its listed companies at US$19.69 trillion as of May 2015. The average daily trading value was approximately US$169 billion in 2013.

The NYSE trading floor is located at 11 Wall Street and is composed of 21 rooms used for the facilitation of trading. A fifth trading room, located at 30 Broad Street, was closed in February 2007. The main building and the 11 Wall Street building were designated National Historic Landmarks in 1978.

The NYSE is owned by Intercontinental Exchange, an American holding company it also lists (NYSE: ICE). Previously, it was part of NYSE Euronext (NYX), which was formed by the NYSE's 2007 merger with the fully electronic stock exchange Euronext. NYSE and Euronext now operate as divisions of Intercontinental Exchange.

New York

New York is a state in the Northeastern United States and is the United States' 27th-most extensive, fourth-most populous, and seventh-most densely populated state. New York is bordered by New Jersey and Pennsylvania to the south and Connecticut, Massachusetts, and Vermont to the east. The state has a maritime border in the Atlantic Ocean with Rhode Island, east of Long Island, as well as an international border with the Canadian provinces of Quebec to the north and Ontario to the west and north. The state of New York, with an estimated 19.8 million residents in 2015, is often referred to as New York State to distinguish it from New York City, the state's most populous city and its economic hub.

With an estimated population of nearly 8.5 million in 2014, New York City is the most populous city in the United States and the premier gateway for legal immigration to the United States. The New York City Metropolitan Area is one of the most populous urban agglomerations in the world. New York City is a global city, exerting a significant impact upon commerce, finance, media, art, fashion, research, technology, education, and entertainment, its fast pace defining the term New York minute. The home of the United Nations Headquarters, New York City is an important center for international diplomacy and has been described as the cultural and financial capital of the world, as well as the world's most economically powerful city. New York City makes up over 40% of the population of New York State. Two-thirds of the state's population lives in the New York City Metropolitan Area, and nearly 40% live on Long Island. Both the state and New York City were named for the 17th century Duke of York, future King James II of England. The next four most populous cities in the state are Buffalo, Rochester, Yonkers, and Syracuse, while the state capital is Albany.

Stock exchange

A stock exchange or bourse is an exchange where stock brokers and traders can buy and/or sell stocks (also called shares), bonds, and other securities. Stock exchanges may also provide facilities for issue and redemption of securities and other financial instruments, and capital events including the payment of income and dividends. Securities traded on a stock exchange include stock issued by listed companies, unit trusts, derivatives, pooled investment products and bonds. Stock exchanges often function as "continuous auction" markets, with buyers and sellers consummating transactions at a central location, such as the floor of the exchange.

To be able to trade a security on a certain stock exchange, it must be listed there. Usually, there is a central location at least for record keeping, but trade is increasingly less linked to such a physical place, as modern markets use electronic networks, which gives them advantages of increased speed and reduced cost of transactions. Trade on an exchange is restricted to brokers who are members of the exchange. In recent years, various other trading venues, such as electronic communication networks, alternative trading systems and "dark pools" have taken much of the trading activity away from traditional stock exchanges.

Wall Street

Wall Street is a 0.7-mile-long (1.1 km) street running eight blocks, roughly northwest to southeast, from Broadway to South Street on the East River in the Financial District of Lower Manhattan, New York City. Over time, the term has become a metonym for the financial markets of the United States as a whole, the American financial sector (even if financial firms are not physically located there), or signifying New York-based financial interests.

Anchored by Wall Street, New York City has been called both the most economically powerful city and the leading financial center of the world, and the city is home to the world's two largest stock exchanges by total market capitalization, the New York Stock Exchange and NASDAQ. Several other major exchanges have or had headquarters in the Wall Street area, including the New York Mercantile Exchange, the New York Board of Trade, and the former American Stock Exchange.

History

Early years

There are varying accounts about how the Dutch-named "de Waal Straat" got its name. A generally accepted version is that the name of the street was derived from an earthen wall on the northern boundary of the New Amsterdam settlement, perhaps to protect against English colonial encroachment or incursions by Native Americans. A conflicting explanation is that Wall Street was named after Walloons— the Dutch name for a Walloon is Waal. Among the first settlers that embarked on the ship "Nieu Nederlandt" in 1624 were 30 Walloon families. The Dutch word "wal" can be translated as "rampart". However, even some English maps show the name as Waal Straat, and not as Wal Straat.

ABC News

ABC News is the news division of the American Broadcasting Company (ABC), owned by the Disney Media Networks division of the Walt Disney Company. Its flagship program is the daily evening newscast ABC World News Tonight; other programs include morning news-talk show Good Morning America, newsmagazine series Nightline, Primetime and 20/20, and Sunday morning political affairs program This Week with George Stephanopoulos.

History

ABC began news broadcasts early in its independent existence as a radio network after the Federal Communications Commission (FCC) ordered NBC to spin off the former NBC Blue Network into an independent company in 1943. The split (which NBC conducted voluntarily in the event that its appeal to have the ruling overturned was denied) was enforced to expand competition in radio broadcasting in the United States as the industry had only a few companies such as NBC and CBS that dominated the radio market, and in particular, was intended to prevent the limited competition from dominating news and political broadcasting and projecting narrow points-of-view. Television broadcasting was suspended however, during World War II.