Guest guest Posted May 18, 2006 Report Share Posted May 18, 2006 Hi David & Group, Opening bell at the NYSE in the 1929 era was still then @ 10:00 a.m., N.Y.C. TRADING HOURS HISTORY IN TIME LINE: DECEMBER 01, 1873: Less than two years after the NYSE changed from a call market [calls of stocks at set times] to a market of "continuous trading", the exchange's trading hours were reset to be open from 10 a.m. to 3 p.m. Monday-Friday, and 10 a.m. to Noon on Saturdays. SEPTEMBER 29, 1952 NYSE extended its weekday trading hours to 10:00 a.m. to 3:30 p.m, Monday thru Friday. However, no longer any Saturday trading. OCTOBER 01, 1974 NYSE trading hours extended to 4:00 p.m from 3:30 p.m. SEPTEMBER 30, 1985 NYSE trading hours changed to 9:30 a.m. until 4 p.m., where they remain today. The Opening Bell: NYSE One of the most familiar features of the New York Stock Exchange is the loud, distinct bell, which signals the beginning and ending of trading each day. Originally the NYSE signaled the start of trading by the rap of a gavel; then later this was replaced when a Chinese gong was introduced to begin the trading day. Bells were introduced when continuous trading was instituted in the 1871; thus, the NYSE's trademarked "Opening Bell Ceremony" was born. On April 22, 1903 the NYSE moved into its new and still current quarters at 18 Broad Street, in lower Manhattan. The new trading floor, still in use today, is 60 percent larger than the previous floor. In 1903 the new trading floor featured 16 trading posts, 500 telephones, annunciator boards, a gilded ceiling and huge window walls. Also at this time modern technology was adopted in the form of a shiny, electrically induced bell. There is one large bell in each of the four trading areas of the NYSE. The bells are operated synchronously from a single control. The bells, measuring 18 inches in diameter, were manufactured by the G. S. Edwards Company of Norwalk, Connecticut. In the late 1980s, the NYSE decided to refurbish the bells and have an extra bell made as a back up. However, it was discovered that bells as large and loud as The Exchange's were no longer made by Edwards or any other bell company. Edwards agreed to make a special replica for the NYSE and brought employees out of retirement to handle the job. While this was being done, an older, larger bell was discovered in a crawl space above the main trading floor. Measuring 24 inches in diameter, this 1903 bell had most likely been put away because it was too loud, even for the New York Stock Exchange. After being cleaned and refurbished, this giant bell was toned down. It now gleams on a platform above the trading floor, ready for use should it ever be called into action. The bell is a part of the NYSE's heritage, and it is considered an honor to be invited to ring the opening or closing bell. A membership on the NYSE is traditionally referred to as a "seat" because in the early years of its existence members sat in assigned chairs during the roll call of stocks. The term lost its literal meaning with the advent of continuous trading in 1871. Owning a seat on the New York Stock Exchange carries with it prestige, power, and responsibility. Most important, it entitles one to buy and sell securities on the floor, as an agent for others or for one's own account. However, being able to afford a seat is not enough, by itself, to gain membership. Candidates are reviewed by the NYSE Membership Department and must meet high standards of personal and financial integrity and demonstrate their knowledge of the securities business. Once admitted, their activities are subject to continuous oversight by the NYSE and government regulators to assure compliance with securities regulations and ethical conduct in serving the needs of clients Blab-away for as little as 1¢/min. Make PC-to-Phone Calls using Messenger with Voice. Quote Link to comment Share on other sites More sharing options...
Guest guest Posted May 18, 2006 Report Share Posted May 18, 2006 okay... thank you. david - JohnTWB samva Thursday, May 18, 2006 12:50 PM NYSE: Trading Hours, Outline History Hi David & Group, Opening bell at the NYSE in the 1929 era was still then @ 10:00 a.m., N.Y.C. TRADING HOURS HISTORY IN TIME LINE: DECEMBER 01, 1873: Less than two years after the NYSE changed from a call market [calls of stocks at set times] to a market of "continuous trading", the exchange's trading hours were reset to be open from 10 a.m. to 3 p.m. Monday-Friday, and 10 a.m. to Noon on Saturdays. SEPTEMBER 29, 1952 NYSE extended its weekday trading hours to 10:00 a.m. to 3:30 p.m, Monday thru Friday. However, no longer any Saturday trading. OCTOBER 01, 1974 NYSE trading hours extended to 4:00 p.m from 3:30 p.m. SEPTEMBER 30, 1985 NYSE trading hours changed to 9:30 a.m. until 4 p.m., where they remain today. The Opening Bell: NYSE One of the most familiar features of the New York Stock Exchange is the loud, distinct bell, which signals the beginning and ending of trading each day. Originally the NYSE signaled the start of trading by the rap of a gavel; then later this was replaced when a Chinese gong was introduced to begin the trading day. Bells were introduced when continuous trading was instituted in the 1871; thus, the NYSE's trademarked "Opening Bell Ceremony" was born. On April 22, 1903 the NYSE moved into its new and still current quarters at 18 Broad Street, in lower Manhattan. The new trading floor, still in use today, is 60 percent larger than the previous floor. In 1903 the new trading floor featured 16 trading posts, 500 telephones, annunciator boards, a gilded ceiling and huge window walls. Also at this time modern technology was adopted in the form of a shiny, electrically induced bell. There is one large bell in each of the four trading areas of the NYSE. The bells are operated synchronously from a single control. The bells, measuring 18 inches in diameter, were manufactured by the G. S. Edwards Company of Norwalk, Connecticut. In the late 1980s, the NYSE decided to refurbish the bells and have an extra bell made as a back up. However, it was discovered that bells as large and loud as The Exchange's were no longer made by Edwards or any other bell company. Edwards agreed to make a special replica for the NYSE and brought employees out of retirement to handle the job. While this was being done, an older, larger bell was discovered in a crawl space above the main trading floor. Measuring 24 inches in diameter, this 1903 bell had most likely been put away because it was too loud, even for the New York Stock Exchange. After being cleaned and refurbished, this giant bell was toned down. It now gleams on a platform above the trading floor, ready for use should it ever be called into action. The bell is a part of the NYSE's heritage, and it is considered an honor to be invited to ring the opening or closing bell. A membership on the NYSE is traditionally referred to as a "seat" because in the early years of its existence members sat in assigned chairs during the roll call of stocks. The term lost its literal meaning with the advent of continuous trading in 1871. Owning a seat on the New York Stock Exchange carries with it prestige, power, and responsibility. Most important, it entitles one to buy and sell securities on the floor, as an agent for others or for one's own account. However, being able to afford a seat is not enough, by itself, to gain membership. Candidates are reviewed by the NYSE Membership Department and must meet high standards of personal and financial integrity and demonstrate their knowledge of the securities business. Once admitted, their activities are subject to continuous oversight by the NYSE and government regulators to assure compliance with securities regulations and ethical conduct in serving the needs of clients Blab-away for as little as 1¢/min. Make PC-to-Phone Calls using Messenger with Voice. Quote Link to comment Share on other sites More sharing options...
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