162-660: The New York Stock Exchange Building (also NYSE Building ) is the headquarters of the New York Stock Exchange (NYSE), located in the Financial District of Lower Manhattan in New York City . It is composed of two connected structures occupying much of the city block bounded by Wall Street , Broad Street , New Street, and Exchange Place . The central section of the block contains the original structure at 18 Broad Street, designed in
324-463: A National Historic Landmark in 1978. 18 Broad Street is also a New York City designated landmark . The New York Stock Exchange is closed on New Year's Day , Martin Luther King Jr. Day , Washington's Birthday , Good Friday , Memorial Day , Juneteenth National Independence Day , Independence Day , Labor Day , Thanksgiving , and Christmas . When those holidays occur on a weekend,
486-605: A pedestrian-only zone was established along several blocks immediately surrounding the building. Bollards were installed at several intersections around the building in the mid-2000s. In 2017, community group Downtown Alliance proposed improvements to the pedestrian-only zone surrounding the NYSE Building. The plans included a series of benches placed around the Fearless Girl statue on the Broad Street side of
648-401: A pediment designed by John Quincy Adams Ward and Paul Wayland Bartlett , depicting commerce and industry. The facade of 11 Wall Street is simpler in design but contains architectural details similar to those at 18 Broad Street. Behind the colonnades at 18 Broad Street is the main trading floor, a 72-foot-tall (22 m) rectangular space. An additional trading floor, nicknamed
810-592: A "very brilliant and successful piece of work". Schuyler especially appreciated that the colonnades' columns visually divided the large windows behind them; his only negative criticism was that the carving of the basement was incongruous with the rest of the design. After the annex was completed, the Downtown League declared it to be the "best building" erected in Lower Manhattan in 1922. Elizabeth Macaulay-Lewis said in 2021: "The massive building imbued
972-431: A 203-year process of paper transactions and ushering in an era of automated trading. As of January 24, 2007, all NYSE stocks can be traded via its electronic hybrid market (except for a small group of very high-priced stocks). Customers can now send orders for immediate electronic execution, or route orders to the floor for trade in the auction market. In the first three months of 2007, in excess of 82% of all order volume
1134-519: A base value of 50 points equal to the 1965 yearly close. This was done to reflect the value of all stocks trading at the exchange, in contrast with the then predominant Dow Jones Industrial Average which tracks just 30 stocks. To raise the profile of the composite index, in 2003, the NYSE set its new base value of 5,000 points equal to the 2002 yearly close. Its close at the end of 2013 was 10,400.32. In October 2008, NYSE Euronext completed acquisition of
1296-484: A basement, were finalized in February 1920. The NYSE would lease the first eight stories and the basement, including several stories for an expanded trading floor known as the "Garage", while the upper stories would be leased to office tenants. By August 1922, the annex was nearly complete, and several firms had already signed leases for about 60 percent of the available office space. The annex's trading floor opened during
1458-479: A change of ownership of a corporation holding a trading license. The Barnes family is the only known lineage to have five generations of NYSE members: Winthrop H. Barnes (admitted 1894), Richard W.P. Barnes (admitted 1926), Richard S. Barnes (admitted 1951), Robert H. Barnes (admitted 1972), Derek J. Barnes (admitted 2003) . In the mid-1960s, the NYSE Composite Index (NYSE: NYA) was created, with
1620-600: A city landmark by the New York City Landmarks Preservation Commission in 1985. The building is also a contributing property to the Wall Street Historic District , a National Register of Historic Places district created in 2007. The New York Stock Exchange (NYSE) Building is in the Financial District of Lower Manhattan , occupying the city block between Broad Street to the east, Wall Street to
1782-414: A combined 1,040 horsepower (780 kW). In addition, numerous elevators were constructed in the building's constituent structures. Six passenger elevators, three lifts, and five dumbwaiters were provided at 18 Broad Street. Eleven elevators were installed at 11 Wall Street. A 2001 article noted that the trading floor required 3,500 kilowatts (4,700 hp) of electricity, 8,000 phone circuits on
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#17327653299611944-611: A conclusion as to the cause. The regulators found no evidence that the fall was caused by erroneous ("fat finger") orders. On October 29, 2012, the stock exchange was shut down for two days due to Hurricane Sandy . The last time the stock exchange was closed due to weather for a full two days was on March 12 and 13, 1888. On May 1, 2014, the stock exchange was fined $ 4.5 million by the Securities and Exchange Commission to settle charges that it had violated market rules. On August 14, 2014, Berkshire Hathaway 's A Class shares,
2106-556: A deal in which NASDAQ would have taken control of the stock exchanges. NYSE Euronext rejected this offer twice, but it was finally terminated after the United States Department of Justice indicated their intention to block the deal due to antitrust concerns. In December 2012, ICE had proposed to buy NYSE Euronext in a stock swap with a valuation of $ 8 billion. NYSE Euronext shareholders would receive either $ 33.12 in cash, or $ 11.27 in cash and approximately
2268-581: A delegation to Philadelphia to observe the organization of their board of brokers, restrictions on manipulative trading were adopted, as well as formal organs of governance. After re-forming as the New York Stock and Exchange Board, the broker organization began renting out space exclusively for securities trading, which previously had been taking place at the Tontine Coffee House . Several locations were used between 1817 and 1865, when
2430-428: A double-height arch at basement level, providing access to the offices near the trading floor. On New Street, rusticated marble blocks clad the basement and first stories, and the openings are simpler in design compared to the Broad Street facade. Above the podiums on Broad and New Streets, the colonnades span the second through fifth stories. Both colonnades consist of two flat pilasters flanking six columns; each of
2592-560: A for-profit, public company. It began trading under the name NYSE Group on March 8, 2006. On April 4, 2007, the NYSE Group completed its merger with Euronext, the European combined stock market, thus forming NYSE Euronext , the first transatlantic stock exchange. Wall Street is the leading U.S. money center for international financial activities and the foremost U.S. location for the conduct of wholesale financial services. "It comprises
2754-399: A for-profit, publicly traded company. Seat owners received $ 500,000 in cash per seat and 77,000 shares of the newly formed corporation. The NYSE now sells one-year licenses to trade directly on the exchange. Licenses for floor trading are available for $ 40,000 and a license for bond trading is available for as little as $ 1,000 as of 2010. Neither are resellable, but may be transferable during
2916-635: A high ceiling. These stories were internally connected to 18 Broad Street, although they remained separate buildings. In 1928, the NYSE bought not only the Commercial Cable Building but also the Blair Building , taking control of all the property on the city block. The NYSE's growth stopped suddenly with the Wall Street Crash of 1929 , when share prices on the exchange dropped 23 percent in two days, in what
3078-532: A large interior light shaft on 18 Broad Street's upper stories as part of the building's design. The location of this shaft, and that of the trading floor, is affected by the planning of the various rooms in the upper stories. On the sixth story, above the trading floor, is the boardroom (formerly the Bond Room). This room has a skylight and coffered ceiling. The walls are adorned with white and gold decorations and contain arches supported by flat pilasters. While
3240-574: A lawsuit against Kristen Visbal, claiming that she had made and sold replicas of the statue in violation of her contract with the company. The suit claimed the artist made at least three unauthorized Fearless Girl reproductions that could damage the company's global campaign in support of female leadership and gender diversity . Court filings reported that replica Fearless Girl statues were selling for as much as $ 250,000. In 2024, SSGA settled its lawsuit against Visbal. On February 25, 2021, SSGA took Australian law firm Maurice Blackburn (MBL) to
3402-499: A letter "T" and had a much longer frontage on New Street than on Broad Street. By the end of the 1890s, the structure was again overcrowded. The NYSE acquired the plots at 16–18 Broad Street in late 1898 after two years of negotiation. The 16–18 Broad Street site cost more than $ 800,000 (equivalent to $ 25.02 million in 2023) and contained the Union Building. The NYSE was planning yet another expansion to its building, which
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#17327653299613564-491: A location facing the New York Stock Exchange. The move would occur before the end of 2018. The statue was removed from its original location at Bowling Green on November 28, 2018. On the spot where the statue stood was placed a marker which read, " Fearless Girl is on the move to the New York Stock Exchange. Until she's there, stand for her." The plaque has footprints where people can stand. The statue
3726-690: A matrix of wholesale financial sectors, financial markets, financial institutions, and financial industry firms" (Robert, 2002). The principal sectors are securities industry, commercial banking, asset management, and insurance. Prior to the acquisition of NYSE Euronext by the ICE in 2013, Marsh Carter was the Chairman of the NYSE and the CEO was Duncan Niederauer . Currently, the chairman is Jeffrey Sprecher. In 2016, NYSE owner Intercontinental Exchange Inc. earned $ 419 million in listings-related revenues. The exchange
3888-661: A minor shareholder in the Building Company, bought all the company's stock in November 1870. The company acquired the lot at 12 Broad Street, and the two buildings were combined and expanded to designs by James Renwick Jr. The Stock Exchange Building reopened in September 1871. Within eight years, even the expansion was insufficient for the overcrowded NYSE. The exchange's governing committee thus purchased additional land on Broad and New Streets in late 1879. Renwick
4050-485: A more modern, continuous trading system superior to the NYSE's twice-daily call sessions". The Open Board of Stock Brokers merged with the NYSE in 1869. Robert Wright of Bloomberg writes that the merger increased the NYSE's members as well as trading volume, as "several dozen regional exchanges were also competing with the NYSE for customers. Buyers, sellers and dealers all wanted to complete transactions as quickly and cheaply as technologically possible and that meant finding
4212-557: A new building within five years. The NYSE made several proposals for new headquarters, none of which were carried out. The exchange selected a site in Battery Park City in 1965 but dropped plans for the site the next year. The NYSE's governors voted in 1967 to expand the trading floor into 20 Broad Street. The expansion, nicknamed the "Blue Room", opened in July 1969. It provided 8,000 square feet (740 m) of additional space to
4374-507: A powerful beacon, showing women—young and old—that no dream is too big and no ceiling is too high". A petition on Change.org asking for the statue to be made permanent gathered 2,500 signatures in its first 48 hours. Efforts to make the statue permanent continued after the statue was granted a one-year permit. In April 2018, after Fearless Girl had been in place for thirteen months, New York City Mayor Bill de Blasio announced that both Charging Bull and Fearless Girl would be moved to
4536-429: A relatively high percentage of women in senior leadership. The statue was first installed at the northern tip of Bowling Green on Broadway, facing the sculpture Charging Bull on March 7, 2017, in anticipation of International Women's Day on the following day. Following complaints from Charging Bull sculptor Arturo Di Modica , Fearless Girl was removed in November 2018 and relocated to its current location
4698-458: A replacement building on the site. This competition involved a brief by architects William Ware and Charles W. Clinton . The foremost consideration was that the trading floor had to be an open space with few to no interruptions. The NYSE solicited proposals for a structure that had banking space on the ground floor, as well as proposals with no such space. The plans had to consider the lot's complex topography, unusual shape, underlying ground, and
4860-428: A sixth of a share of ICE. Jeffrey Sprecher , the chairman and CEO of ICE, will retain those positions, but four members of the NYSE board of directors will be added to the ICE board. On January 24, 2023, a glitch in NYSE caused panic due to unintentional trade orders opened and closed in more than 250 securities. The NYSE's opening and closing bells mark the beginning and the end of each trading day. The opening bell
5022-554: A statue of a small dog, titled Peeing Pug , next to the Fearless Girl and removed it after approximately three hours. Gothamist reported on March 20, 2017, that masked activists had covered the statue in " Make America Great Again " apparel and a US flag . They also placed pro- Donald Trump signs on it, including one reading "VETS B4 ILLEGALS" and another with a drawing of Pepe the Frog . On October 6, 2017, State Street,
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5184-427: A team composed of J.P. Morgan & Co., Lewis Rudin , Gerald D. Hines , and Fred Wilpon took over the project. The NYSE withdrew from the supercenter in 1993. The next year, NYSE officials constructed a model trading floor for "3D trading", where securities were displayed on electronic screens. The NYSE resumed its search for alternate sites for its headquarters in mid-1996. During the previous five years, over
5346-541: A thousand companies had been listed on the exchange's board, and trading volume had more than doubled. At one such site, along the East River at the end of Wall Street, developer Donald Trump proposed a 140-story building designed by Kohn Pedersen Fox for the NYSE, which would have been the world's tallest building. Other sites under consideration included the Broad Exchange Building immediately to
5508-422: A visitor center at the building for $ 2 million in the late 1990s. The NYSE also hosted tours of the structure, which were restricted to 3,000 daily visitors. As an interim measure, the NYSE looked into opening a trading floor at 30 Broad Street less than a block to the south in 1998. The expansion, which opened in late 2000, consisted of a 10,000-square-foot (930 m) facility designed by SOM. The same year,
5670-569: Is a bronze sculpture by Kristen Visbal of a 4-foot high (1.2 m) girl standing in a self-confident pose. It is currently located in New York City on Broad Street across from the New York Stock Exchange Building in the Financial District of Manhattan. Fearless Girl was commissioned by State Street Global Advisors (SSGA), a large asset management company, to promote gender diversity initiatives and an index fund focused on gender-diverse companies with
5832-490: Is at ground level at the corner of Wall and New Streets, but is one level above Broad Street. 18 Broad Street, the older structure in the modern building, is at the center of the block. The structure has a facade of white Georgia marble and a roof 156 feet (48 m) above sidewalk level. 18 Broad Street has a frontage of 152 feet 10 inches (47 m) on New Street and 137 feet 8.5 inches (41.974 m) on Broad Street. The facade on Broad Street
5994-518: Is at the same level as New and Wall Streets; as built, a marble double stair from the basement at Broad Street provided an entrance for members. The floor surface was originally covered with wood. Interrupting the main trading floor are eight iron columns, the placement of which was decided after twenty to thirty drawings. The lowest 20 feet (6.1 m) of the walls are clad in marble, with arched alcoves for access to other rooms. The marble panels contain bluish-brownstone centers and pink-marble metopes at
6156-528: Is composed of eleven figures representing commerce and industry. The central figure is a female representation of integrity, flanked by four pairs of figures depicting planning/building, exploring/mining, science/industry, and agriculture. Two small children, also described as putti , sit at Integrity's feet. The figures were originally fashioned in marble from 1908 to 1909; they were replaced in 1936 with sheet metal carvings coated with lead. A cornice with egg-and-dart moldings and lions' head carvings runs atop
6318-476: Is employed by a NYSE member firm (that is, they are not an employee of the New York Stock Exchange), acts as an auctioneer in an open outcry auction market environment to bring buyers and sellers together and to manage the actual auction. They do on occasion (approximately 10% of the time) facilitate the trades by committing their own capital and as a matter of course disseminate information to
6480-531: Is inspired by ancient Roman sources, and writer Elizabeth Macaulay-Lewis compared the facade to that of the Maison Carrée in southern France. The original structure contains colonnades along both Broad and New Streets. Unlike the Roman sources from which the design of 18 Broad Street's facade is derived, the building has entrances at basement level on both sides, rather than grand staircases leading to
6642-460: Is not a replica of Fearless Girl , but instead a piece inspired by Visbal's work called Fearless Thinker , created by local artist Marieke Prinsloo-Rowe. A reproduction was revealed by Kristen Visbal at Federation Square in Melbourne , Australia, before Women's Day at March 8, 2019. It is planned to stand there for four years. This replica became the subject of a federal lawsuit, when SSGA,
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6804-507: Is one of only two campaigns that have ever won four Grand Prix at Cannes. It won in the Glass (which deals with marketing addressing gender inequality) and PR categories, and tying for first in the Outdoor category alongside a campaign by Twitter . In late 2017, State Street was made aware of the first sale of a Fearless Girl replica, to a German company, and raised concerns with Visbal that
6966-469: Is open for trading Monday through Friday from 9:30 am – 4:00 pm ET , with the exception of holidays declared by the Exchange in advance. Proposals for round-the-clock trading have been considered by NYSE. The NYSE trades in a continuous auction format, where traders can execute stock transactions on behalf of investors. They will gather around the appropriate post where a specialist broker, who
7128-425: Is rung at 9:30 am ET to mark the start of the day's trading session. At 4 pm ET the closing bell is rung and trading for the day stops. There are bells located in each of the four main sections of the NYSE that all ring at the same time once a button is pressed. There are three buttons that control the bells, located on the control panel behind the podium which overlooks the trading floor. The main bell, which
7290-417: Is rung at the beginning and end of the trading day, is controlled by a green button. The second button, colored orange, activates a single-stroke bell that is used to signal a moment of silence. A third, red button controls a backup bell which is used in case the main bell fails to ring. The ringing of the bells usually accompanied with applause and is often done by VIPs and celebrities (See pictures and
7452-447: Is the largest stock exchange in the world by market capitalization . The NYSE trading floor is located at the New York Stock Exchange Building on 11 Wall Street and 18 Broad Street and is a National Historic Landmark . A previous trading room, at 30 Broad Street , was closed in February 2007. The NYSE is owned by Intercontinental Exchange , an American holding company that it also lists (ticker symbol ICE). Previously, it
7614-527: Is used for the walls and public corridors, while the private corridors have Dover marble wainscoting and Alabama marble floors. Until 2007, there were three additional trading floors. The "Blue Room" and the "Extended Blue Room" were in 20 Broad Street, immediately south of the NYSE Building. There was also a trading room at the Continental Bank Building on 30 Broad Street, which had three additional trading posts. Post included
7776-561: The 1997 Mini-Crash but from which the DJIA recovered quickly. This was the first time that the " circuit breaker " rule had operated. On January 26, 2000, an altercation during filming of the music video for Rage Against the Machine 's " Sleep Now in the Fire ", directed by Michael Moore , caused the doors of the exchange to be closed and the band to be escorted from the site by security after
7938-668: The American Stock Exchange (AMEX) for $ 260 million in stock. On February 15, 2011, NYSE and Deutsche Börse announced their merger to form a new company, as yet unnamed, wherein Deutsche Börse shareholders would have 60% ownership of the new entity, and NYSE Euronext shareholders would have 40%. On February 1, 2012, the European Commission blocked the merger of NYSE with Deutsche Börse , after commissioner Joaquín Almunia stated that
8100-629: The Buttonwood Agreement . Previously, securities exchange had been intermediated by the auctioneers , who also conducted more mundane auctions of commodities such as wheat and tobacco. On May 17, 1792, twenty-four brokers signed the Buttonwood Agreement, which set a floor commission rate charged to clients and bound the signers to give preference to the other signers in securities sales. The earliest securities traded were mostly governmental securities such as War Bonds from
8262-472: The Classical Revival style by George B. Post . The northern section contains a 23-story office annex at 11 Wall Street, designed by Trowbridge & Livingston in a similar style. The marble facade of 18 Broad Street contains colonnades facing east toward Broad Street and west toward New Street, both atop two-story podiums. The Broad Street colonnade, an icon of the NYSE, contains
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#17327653299618424-506: The Fearless Girl statue be installed. Di Modica said that the statue corrupted Charging Bull 's artistic integrity by distorting the intent of his statue from "a symbol of prosperity and for strength" into a villain, and does so for SSGA's commercial gain. Siegel said a lawsuit had not been filed as of yet. De Blasio supported keeping the statue, tweeting that "Men who don't like women taking up space are exactly why we need
8586-577: The New York City Department of Transportation applied for another 11-month extension. This was tabled, the PDC asking the DOT to return with a revised application involving a shorter extension timeframe in one month's time. As of April 2024 , the permit had not been extended. As of January 2024 , the sculpture's presence still relies on a temporary permit, the dispute over the rights to
8748-699: The New York City Subway , served by the J and Z trains, originally contained two staircases that led to the sidewalk directly outside the New York Stock Exchange Building. One stair was closed in 2002, following the September ;11 attacks , while the other was closed in 2012. A security zone created after the September ;11 attacks surrounds the NYSE Building. In addition,
8910-712: The President of South Africa Nelson Mandela . Two United Nations Secretaries General have also rung the bell. On April 27, 2006, Secretary-General Kofi Annan rang the opening bell to launch the United Nations Principles for Responsible Investment . On July 24, 2013, Secretary-General Ban Ki-moon rang the closing bell to celebrate the NYSE joining the United Nations Sustainable Stock Exchanges Initiative . Fearless Girl Fearless Girl
9072-564: The U.S. Department of Labor . Some women criticized the statue as " corporate feminism " that violated their own feminist principles. The New York Times columnist Ginia Bellafante called the sculpture commission "an exercise in corporate imaging" by State Street, which, she wrote, had entered into a deferred prosecution agreement with the United States Department of Justice , agreeing to pay more than $ 64 million to resolve fraud charges for secretly billing clients for unwarranted commissions. "Corporate feminism", she wrote, "operates with
9234-468: The U.S. Securities and Exchange Commission , with a president and a thirty-three-member board. On February 18, 1971, the non-profit corporation was formed, and the number of board members was reduced to twenty-five. One of Abbie Hoffman 's well-known publicity stunts took place in 1967, when he led members of the Yippie movement to the Exchange's gallery. The provocateurs hurled fistfuls of dollars toward
9396-481: The Wall Street station of the city's first subway line (now the 4 and 5 trains), under Broadway . The lowest basement level is 42 feet (13 m) below Wall Street. The basement is surrounded by a concrete cofferdam resting on solid rock. The surrounding area had an atypically high water table , with groundwater being present a few feet below ground, partially because Broad Street
9558-474: The president of the New York Stock Exchange , and Seth Low , the mayor of New York City . The trading floor opened for business the following day. The New York Times reported, "When the gavel fell many brokers vied with each other for the honor of making the first business transaction." In the years after the NYSE Building's completion, the exchange encountered difficulties, including the Panic of 1907 , when
9720-478: The 2011 rule change, at the start of each trading day, the NYSE sets three circuit breaker levels at levels of 7% (Level 1), 13% (Level 2), and 20% (Level 3) of the average closing price of the S&;P 500 for the preceding trading day. Level 1 and Level 2 declines result in a 15-minute trading halt unless they occur after 3:25 pm, when no trading halts apply. A Level 3 decline results in trading being suspended for
9882-488: The 23,000-square-foot (2,100 m) trading floor, which could accommodate almost two hundred more clerks. In addition, some of the computer facilities were moved to Paramus, New Jersey , between 1967 and 1969. The NYSE looked to build a new headquarters along the East River , at the eastern end of Wall Street, in the long term. These plans were postponed indefinitely in 1970 due to the recession of 1969–1970 . In 1977,
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#173276532996110044-592: The Broad Street facade. A parapet with a balustrade runs above the cornice on Broad Street. The New Street facade has a simple cornice. The northern annex at 11 Wall Street is 22 stories tall, or 23, including the ground-level basement on Broad Street, and is constructed of Georgia marble. It occupies an irregular lot extending 58 feet (18 m) on Broad Street, 156 feet (48 m) on Wall Street, and 100 feet (30 m) on New Street. 11 Wall Street has an overall height of 258 feet (79 m). The building's massing , or general form, incorporates setbacks at
10206-481: The Exchange on October 24, 1929, and the sell-off panic which started on Black Tuesday , October 29, are often blamed for precipitating the Great Depression . In an effort to restore investor confidence, the Exchange unveiled a fifteen-point program aimed to upgrade protection for the investing public on October 31, 1938. On October 1, 1934, the exchange was registered as a national securities exchange with
10368-404: The Fearless Girl." State Street Global Advisors faced criticism that Fearless Girl was commissioned primarily to serve its own interests. The Guardian reported that the company had repeatedly voted against initiatives to advance gender equality and transparency in pay disparity, and paid $ 5 million to settle charges of pay discrimination involving about 300 female employees after an audit by
10530-459: The Fearless Girl." The statue was installed on March 7, 2017—the day before International Women's Day —by State Street Global Advisors , in a campaign developed by advertising agency McCann New York . SSGA was celebrating the first anniversary of its "Gender Diversity Index" fund that "invests in U.S. large-capitalization companies that rank among the highest in their sector in achieving gender diversity across senior leadership". The concept for
10692-680: The Federal Court in Australia alleging that one of Fearless Girl 's replicas constituted copyright and trademark infringement. Justice Jonathan Beach ruled in MBL's favor, finding there was no violation of SSGA's trademark, since the replica's name "fearless girl" was used in a descriptive way. In other words, MBL was able to rely upon the defense of acting in good faith under s.122(1)(b)(i) of Trade Marks Act 1995. The copyright infringement claim under s.36 Copyright Act 1968 also failed as MBL
10854-457: The Garage, is at 11 Wall Street. There are offices and meeting rooms in the upper stories of 18 Broad Street and 11 Wall Street. The NYSE had occupied the site on Broad Street since 1865 but had to expand its previous building several times. The structure at 18 Broad Street was erected between 1901 and 1903. Within two decades, the NYSE's new building had become overcrowded, and
11016-414: The Lower Manhattan expansion was ultimately canceled in 2002 because the NYSE wanted to build a trading floor elsewhere. Over the following years, the increase in electronic trading made physical trading space redundant. The floor accounted for fewer than half of trades in 2007, down from 80 percent in 2004. As a result, the 30 Broad Street trading floor closed in February 2007. The NYSE announced later
11178-469: The NYSE Building and, by 1916, the NYSE was contemplating allowing the Curb to move inside. This plan failed, and the Curb built its own structure at 86 Trinity Place , several blocks to the west, in 1921. In addition, the Wall Street bombing occurred outside the building on September 16, 1920, killing thirty-eight people and injuring hundreds more. In its first two decades, and especially following
11340-409: The NYSE Building in the early 20th century, the prevalence of electronic trading meant that these firms no longer had to be physically near the building. The initial plan for the atrium by HLW International was also widely criticized, as was a modification by Hugh Hardy , and the NYSE ultimately dropped the atrium proposal. The NYSE Building remained a popular tourist attraction, and the exchange built
11502-445: The NYSE and the city and state governments of New York agreed to acquire the block to the east. The plan included demolishing all structures except for 23 Wall Street to make way for a 50-story skyscraper designed by SOM. The September 11, 2001, terrorist attacks resulted in only the third multi-day closure of the NYSE's trading floor in the building's history. After the attacks, the NYSE sought to decentralize its operations, and
11664-555: The NYSE had dropped by almost fifty percent from the previous year's peak. In addition, the onset of World War I in Europe in 1914 led many investors to liquidate their securities for gold. As a result, the NYSE trading floor was fully closed for four months in 1914, the first time such a prolonged closure had occurred. The trading of wartime stocks led to an increase in business at the New York Curb Exchange outside
11826-431: The NYSE imposed rules restricting brokers from voting uninstructed shares. The Stock Exchange Luncheon Club was situated on the seventh floor from 1898 until its closure in 2006. On April 21, 2005, the NYSE announced its plans to merge with Archipelago in a deal intended to reorganize the NYSE as a publicly traded company. NYSE's governing board voted to merge with rival Archipelago on December 6, 2005, and became
11988-468: The NYSE proposed expanding the existing building eastward above Broad Street, closing it to vehicular traffic, and creating a glass-covered atrium above the street. The city and state governments agreed to the plans in December 1998, but NYSE officials were considering canceling these plans by the next year, amid the growing popularity of electronic trading. Although financial firms had been clustered around
12150-460: The NYSE reopened on May 26, 2020. The main New York Stock Exchange Building , built in 1903, is at 18 Broad Street, between the corners of Wall Street and Exchange Place, and was designed in the Beaux Arts style by George B. Post . The adjacent structure at 11 Wall Street, completed in 1922, was designed in a similar style by Trowbridge & Livingston . The buildings were both designated
12312-434: The NYSE ultimately discarded this proposal as unwieldy. The NYSE governors ultimately decided against including a ground-level banking room, which they felt would restrict movement during emergencies. In December 1899, the NYSE's governing committee unanimously approved the submission by George B. Post. That month, a committee was formed to oversee the construction of the new building. Post continued to revise his design during
12474-476: The NYSE with authority, reflecting its view of itself and its role in the economy" while also providing space for a trading floor. Some commentary focused on specific parts of the design. Stuart of Architectural Record wrote that, with the colonnades and large trading-floor windows, "the new Exchange will have a scale of its own, at once so simple and impressive as to readily signalize it among its surroundings". Conversely, Scribner's Magazine wrote in 1903 that
12636-526: The NYSE. For instance, in 1999, the NYSE unsuccessfully sued the New York-New York Hotel and Casino for trademark infringement after the hotel's developers built the "New York-New York $ lot Exchange", loosely based on 18 Broad Street. New York Stock Exchange The New York Stock Exchange ( NYSE , nicknamed " The Big Board ") is an American stock exchange in the Financial District of Lower Manhattan in New York City . It
12798-509: The New Street side. The Committee on Arrangements and Admission room featured two large brass chandeliers. The other committee rooms on this story were similarly ornate. The seventh and eighth stories facing Broad Street contained committee rooms and offices. There are also offices on the upper floors at 11 Wall Street. Up to the 17th floor, a typical floor at 11 Wall Street contains 7,500 square feet (700 m) of space, but each of
12960-459: The New York Stock and Exchange Board. The broker organization began renting out space exclusively for securities trading, using several locations for the next half-century, including the Tontine Coffee House . Ten years later, the organization moved into the Merchants' Exchange at 55 Wall Street . Rapid growth in securities trading during the latter half of the nineteenth century was reflected in
13122-890: The Oslo statue was moved in front of the Iranian embassy in Drammensveien in support of women in Iran during the Mahsa Amini protests . In January 2024, a protester dressed Fearless Girl in pro-Palestinian garb. As reported by Bloomberg News , analysts from marketing firm Apex Marketing estimated that the statue resulted in $ 7.4 million in free publicity for SSGA as of April 2017, broken down into $ 201,075 worth of free radio coverage, $ 393,047 worth of free social media coverage, $ 3,115,751 worth of free TV coverage, and $ 3,729,926 worth of free online/print news coverage. Fearless Girl
13284-704: The Revolutionary War and First Bank of the United States stock, although Bank of New York stock was a non-governmental security traded in the early days. The Bank of North America , along with the First Bank of the United States and the Bank of New York, were the first shares traded on the New York Stock Exchange. In 1817, the stockbrokers of New York, operating under the Buttonwood Agreement , instituted new reforms and reorganized. After sending
13446-703: The Wilks Building northwest of its existing structure in January 1920; the lot was assessed at $ 1.9 million (equivalent to $ 21.9 million in 2023). Demolition of the Wilks Building began in June 1920. Trowbridge and Livingston received the commission to design an annex on the Mortimer and Wilks sites, while Marc Eidlitz and Son received the contract for the construction of the annex. Plans for an annex at 11 Wall Street, reaching twenty-two stories above
13608-456: The ancient Greeks. But this exterior shelters the very essence of the strenuous energy of this twentieth century." Percy C. Stuart of Architectural Record said in 1901: "It will be the first great commercial edifice to be built in New York in the twentieth century, a fitting precursor of an age destined for great buildings." Architectural critic Montgomery Schuyler appraised the building as
13770-445: The annex at 11 Wall Street was added between 1920 and 1922. Three additional trading floors were added in the late 20th century to accommodate increasing demand, and there were several proposals to move the NYSE elsewhere during that time. With the growing popularity of electronic trading in the 2000s, the three newer trading floors were closed in 2007. The building was designated a National Historic Landmark in 1978 and designated
13932-417: The beginning and the end of each trading day. Abutting the trading floor on higher levels were doctors' rooms, baths, and barbershops for NYSE members, in addition to call bells that could be rung whenever someone needed a broker to come down. A passageway leads north to the other trading floors at 11 Wall Street; another passage once led south to 20 Broad Street. By 2000, there were 17 trading posts on
14094-410: The building in that way". Architectural writer Robert A. M. Stern said that the pediment's sculptures gave the building "an air of magisterial calm as it presided over the financial world's most important intersection". The NYSE's logo, on which the NYSE holds a trademark, depicts the columns on the 18 Broad Street building. This has led to disputes when coupled with the building's status as an icon of
14256-455: The building. The improvements also included the removal of the Broad Street subway entrances, which was approved in 2019. The building houses the New York Stock Exchange , the world's largest stock exchange by market capitalization of its listed companies. It is at the same location as the NYSE's previous headquarters, which had dated to 1865. The NYSE Building is composed of two primary structures. The southern one, at 18 Broad Street in
14418-402: The button that signals the bells to ring. Due to the amount of coverage that the opening/closing bells receive, many companies coordinate new product launches and other marketing-related events to start on the same day as when the company's representatives ring the bell. It was only in 1995 that the NYSE began having special guests ring the bells on a regular basis; prior to that, ringing the bells
14580-404: The center of the block, was designed by George B. Post in the Classical Revival style and completed in 1903, directly replacing the former headquarters. The northern structure, at 11 Wall Street on the northern end of the block, has a frontage directly on Wall Street; it was designed by Trowbridge & Livingston and completed in 1922. Due to the site's sloping topography, the first floor
14742-477: The colonnades of 18 Broad Street. The exchange is the locus for a large amount of technology and data. When the building was first completed, pneumatic tubes and telephones were installed on the trading floor and other parts of the building to facilitate communications. Some 25,000 feet (7,600 m) of pipes were used to heat and cool the offices. Four boilers generated a combined 800 horsepower (600 kW) of steam, while three power generators were capable of
14904-409: The colonnades. On Broad Street is a two-story podium made of granite blocks. It is divided vertically into seven bays of doorways at the basement, which on Broad Street is at ground level. There are arched windows with balconies on the first story. A decorative lintel tops each of the basement openings, while brackets support each short balcony. South of the podium is a two-bay-wide extension with
15066-663: The columns is 5.5 feet (1.7 m) in diameter and 52 feet (16 m) tall. The columns on Broad Street are fluted , while those on New Street are not. There are wrought-iron railings between each column. The colonnade on Broad Street supports an entablature with the words "New York Stock Exchange" in capital letters. Behind the colonnades are massive windows, each measuring about 96 feet (29 m) wide by 50 feet (15 m) tall. Each window has vertical iron mullions that can support its weight and resist wind pressure on each of them. The windows were originally double-glazed for insulation, and Post also designed movable vertical shades for
15228-473: The company that funded Fearless Girl , paid $ 5 million to settle a lawsuit from its female and minority employees who alleged the company violated equal pay rights. The statue was given a lace collar in respect to longtime Supreme Court Justice Ruth Bader Ginsburg following her death in September 2020. During the COVID-19 pandemic , the statue was frequently seen wearing a face mask. In November 2022,
15390-757: The company that originally commissioned Visbal, sued for its removal in an attempt to stop the spread of replicas around the world. In 2021, Australia's Federal Court threw out the lawsuit. Other replica statues placed in March 2019 include in Paternoster Square , near the London Stock Exchange and near the at the West Hollywood Library in West Hollywood, California . Also in March 2019, St. Timothy's School ,
15552-423: The cost of seat reached a then-record $ 185,000. The most expensive inflation-adjusted seat was sold in 1929 for $ 625,000, which, today, would be over six million dollars. In recent times, seats have sold for as high as $ 4 million in the late 1990s and as low as $ 1 million in 2001. In 2005, seat prices shot up to $ 3.25 million as the exchange entered into an agreement to merge with Archipelago and became
15714-419: The creation of a financial "supercenter" on the block immediately east of the NYSE Building, across Broad Street, in 1992. The supercenter, to be developed by Olympia and York and designed by Skidmore, Owings & Merrill (SOM), would have consisted of a 50-story tower above two 50,000-square-foot (4,600 m) trading floors. After Olympia and York severed their involvement because of financial difficulties,
15876-408: The crowd that helps to bring buyers and sellers together. The auction process moved toward automation in 1995 through the use of wireless handheld computers (HHC). The system enabled traders to receive and execute orders electronically via wireless transmission. On September 25, 1995, NYSE member Michael Einersen, who designed and developed this system, executed 1000 shares of IBM through this HHC ending
16038-403: The early 1960s, the NYSE needed to expand its operations again and was considering moving out of its main building entirely. Previously, the structure had housed some securities firms that were also members of the exchange, but the NYSE needed the space for itself, and the last firm moved out during late 1961. At that time, the NYSE's leadership hoped to acquire land in Lower Manhattan and construct
16200-618: The end of World War I, the NYSE grew significantly. The rebuilt 18 Broad Street quarters quickly became insufficient for the exchange's needs. In December 1918, the NYSE bought the Mortimer Building northeast of its existing structure, giving the exchange an additional 3,220 square feet (299 m). The annex would give the building a full frontage on Wall Street, whereas previously 18 Broad Street only ran along Wall Street for 15 feet (4.6 m). The Mortimer Building's demolition commenced in mid-1919. The NYSE also leased
16362-421: The end of the Great Depression , the NYSE grew again. During World War II, women were allowed to trade in the building for the first time in the Exchange's history. By 1954, the NYSE was planning to replace the building at 20 Broad Street with a skyscraper, a portion of which would contain auxiliary facilities for the NYSE. The exchange formally held an option to expand its trading floor to 20 Broad Street if
16524-506: The figure is ongoing and the statue's future is not permanently decided. Di Modica, who installed Charging Bull in 1989, asked that the statue of the girl be removed, arguing that the piece exploited his work for commercial purposes and altered the perception of the bull. He called Fearless Girl "an advertising trick" that he wanted relocated. On April 12, 2017, Di Modica and his attorney, former New York Civil Liberties Union director Norman Siegel , challenged city officials who let
16686-420: The first story at 18 Broad Street covers 15,000 square feet (1,400 m). The room extends the width of the block between New and Broad Streets. The trading floor was laid out to maximize usable space and, as a result, had minimal space for visitors on the floor itself. There was originally a narrow gallery for smokers on the New Street side and an admission area for guests on Broad Street. The room's floor
16848-414: The following month. A plaque with footprints was placed on the original site of Fearless Girl . Fearless Girl measures approximately 50 inches (130 cm) tall and weighs about 250 pounds (110 kg). When it was first installed, the sculpture faced Charging Bull , a much larger and heavier bronze statue that is 11 feet (3.4 m) tall and weighs 7,100 pounds (3,200 kg). Fearless Girl
17010-522: The gong was switched to the bell format that is currently being used. The bell itself was produced by Bevin Brothers in East Hampton, Connecticut , which is known colloquially as "Bell Town" for its history of bell foundries and metal toy manufacturing. A common sight today is the highly publicized events in which a celebrity or executive from a corporation stands behind the NYSE podium and pushes
17172-567: The growth of the Stock and Exchange Board. In December 1865, the Stock and Exchange Board moved to 10 Broad Street, a T-shaped structure between Wall Street and Exchange Place. The New York Stock Exchange Building Company owned the structure, and the Exchange itself used a second-story room. The board's membership nearly doubled from 583 to 1,060 when it acquired the Open Board of Stock Brokers in 1869. The Stock and Exchange Board, originally
17334-474: The highest priced shares on the NYSE, hit $ 200,000 a share for the first time. On July 8, 2015, technical issues affected the stock exchange, halting trading at 11:32 am ET. The NYSE reassured stock traders that the outage was "not a result of a cyber breach", and the Department of Homeland Security confirmed that there was "no sign of malicious activity". Trading eventually resumed at 3:10 pm ET
17496-493: The holiday is observed on the closest weekday. In addition, the Stock Exchange closes early on the day before Independence Day, the day after Thanksgiving, and Christmas Eve. The NYSE averages about 253 trading days per year. The New York Stock Exchange (sometimes referred to as " The Big Board ") provides a means for buyers and sellers to trade shares of stock in companies registered for public trading. The NYSE
17658-416: The last week of December 1922. The office annex was insufficient to accommodate the long-term growth of the NYSE. In mid-1926, the exchange leased three floors at the neighboring Commercial Cable Building on 20 Broad Street. The ground floor was planned to be connected to that of 18 Broad Street, while the first and second floors of that building would be combined into a single bond trading room with
17820-617: The main dining room by a lounge. The eighth story along New Street contained the club kitchen with a mezzanine-level serving gallery. After the Luncheon Club shut down in 2006, the room was converted into an event space called Freedom Hall. The other rooms on the sixth story of 18 Broad Street included the Governor's Room on the Wall Street side, as well as the president's and secretary's rooms, committee rooms, and offices on
17982-430: The markets with the most trading, or the greatest liquidity in today's parlance. Minimizing competition was essential to keep a large number of orders flowing, and the merger helped the NYSE maintain its reputation for providing superior liquidity." The Civil War greatly stimulated speculative securities trading in New York. By 1869, membership had to be capped, and has been sporadically increased since. The latter half of
18144-447: The media published rumors that the NYSE and the American Stock Exchange (AMEX) would merge and construct a new combined facility; however, the merger did not occur at that time. As a temporary measure, the NYSE renovated its visitors' center in 1979, adding a multi-story gallery with various displays adjacent to the main trading floor. Still short on space, the NYSE rented some offices at 100 Broadway , one block away, in 1980. The NYSE
18306-441: The members attempted to gain entry into the exchange. In the aftermath of the September 11 attacks , the NYSE was closed for four trading sessions, resuming on Monday, September 17, one of the rare times the NYSE was closed for more than one session and only the third time since March 1933. On the first day, the NYSE suffered a 7.1% drop in value (684 points); after a week, it dropped by 14% (1,370 points). An estimated $ 1.4 trillion
18468-530: The merger "would have led to a near-monopoly in European financial derivatives worldwide". Instead, Deutsche Börse and NYSE would have to sell either their Eurex derivatives or LIFFE shares in order to not create a monopoly. On February 2, 2012, NYSE Euronext and Deutsche Börse agreed to scrap the merger. In April 2011, Intercontinental Exchange (ICE), an American futures exchange , and NASDAQ OMX Group had together made an unsolicited proposal to buy NYSE Euronext for approximately US$ 11,000,000,000,
18630-548: The need arose. The structure, designed by Kahn & Jacobs and Sidney Goldstone, was completed in 1956 with 27 stories and 421,000 square feet (39,100 m). The NYSE initially used the second through fourth floors at 20 Broad Street, corresponding to the first through third floors of its main building, as exhibition space. The new building was not part of the NYSE Building, and the New York Life Insurance Company bought 20 Broad Street in 1959. By
18792-500: The next year. By July 1900, the NYSE had arranged to move to the New York Produce Exchange at Bowling Green while the replacement NYSE Building was being constructed. Post filed plans for the building with the New York City Department of Buildings on April 19, 1901. Eight days later, the traders stopped working at the old building. The cornerstone was laid on September 9, 1901. The contractors excavating
18954-486: The nineteenth century saw rapid growth in securities trading. Securities trade in the latter nineteenth and early twentieth centuries was prone to panics and crashes. Government regulation of securities trading was eventually seen as necessary, with arguably the most dramatic changes occurring in the 1930s after a major stock market crash precipitated the Great Depression . The NYSE has also imposed additional rules in response to shareholder protection controls, e.g. in 2012,
19116-495: The ninth, nineteenth, and twentieth stories, as well as a roof above the twenty-second story. A heavy cornice runs above the eighteenth story. The annex's main entrance is a chamfered corner at Wall and New Streets. It consists of a rectangular doorway with Doric columns on each side, above which are a transom , entablature , and balustrade. The windows on 11 Wall Street are largely paired rectangular sash windows. The annex contains design elements that visually connect it to
19278-437: The north, New Street to the west, and Exchange Place to the south. The lot has a total area of 31,350 square feet (2,913 m). Nearby buildings include 1 Wall Street to the west; 14 Wall Street to the north; Federal Hall to the northeast; 23 Wall Street and 15 Broad Street to the east; Broad Exchange Building to the southeast; and 30 Broad Street to the south. The Broad Street station of
19440-459: The older building. On Broad Street, a belt course above the first story, two floors above street level, connects with the top of the podium on 18 Broad Street. The balustrade at the ninth story, ten floors above street level, connects with those atop 18 Broad Street. Additionally, on the Wall Street facade, there is a small row of Corinthian pilasters flanking the second- through fifth-story windows. These pilasters are similar in design to
19602-447: The original plan during construction. R. H. Thomas, a chairman of the committee that oversaw construction, justified the delay by saying, "Where so many of our members spend the active years of their lives, they are entitled to the best that architectural ingenuity and engineering skill can produce." Over two thousand guests attended the building's dedication ceremony on April 22, 1903. The event included speeches from Rudolph Keppler ,
19764-629: The parent company of United Airlines , which broke down. When the UAL deal fell through, it helped trigger the collapse of the junk bond market causing the Dow to fall 190.58 points, or 6.91 percent. Similarly, there was a panic in the financial world during the year of 1997; the Asian Financial Crisis . Like the fall of many foreign markets, the Dow suffered a 7.18% drop in value (554.26 points) on October 27, 1997, in what later became known as
19926-444: The pediment on Broad Street was disadvantaged by its location opposite several tall buildings, "which has caused Ward to give to his figures very great scale and to diminish their number". An Architectural Record article the following year pointed out a similar issue, stating that a front view was extremely difficult unless one entered a nearby building, and that "neither architect nor sculptor could have expected many persons to examine
20088-488: The present location was adopted. The invention of the electrical telegraph consolidated markets and New York's market rose to dominance over Philadelphia after weathering some market panics better than other alternatives. The Open Board of Stock Brokers was established in 1864 as a competitor to the NYSE. With 354 members, the Open Board of Stock Brokers rivaled the NYSE in membership (which had 533) "because it used
20250-455: The remainder of the day. (The biggest one-day decline in the S&;P 500 since 1987 was the 11.98% drop on March 16, 2020 .) Until 2005, the right to directly trade shares on the exchange was conferred upon owners of a limited number of "seats". The term comes from the fact that up until the 1870s NYSE members sat in chairs to trade. In 1868, the number of seats was fixed at 533, and this number
20412-426: The removal of the large deposit vault. The publicist Ivy Lee wrote that the structure was to "be both monumental architecturally and equipped with every device that mechanics, electricity or ingenuity could supply with every resource needed to transact the security trading for the commercial center of the world". The exchange briefly contemplated an eight-to-nine-story structure with offices above its trading floor, but
20574-505: The room was originally outfitted with semicircular tiers surrounding a dais , these have since been removed. The seventh story of 18 Broad Street contained the Luncheon Club facing New Street, which covered 12,055 square feet (1,119.9 m). The Luncheon Club's main dining room measured 76 by 40 feet (23 by 12 m), with an 18-foot (5.5 m) high ceiling. A smaller dining room was provided for non-smokers, separated from
20736-488: The room, as well as annunciators clustered around the New Street end and surrounding the large columns on the floor. The northern and southern walls originally had colored "checkerboards" with over 1,200 panels, which could be lit in a variety of patterns to flash messages to members on the floor. Each of the four primary trading areas contain the NYSE's opening and closing bells (originally just one bell), which are rung to mark
20898-793: The sale or unveiling might violate one or more provisions of their Agreements. Those conversations culminated in Visbal holding off on the unveiling of the replica. Ultimately, the replica was never placed and there was no unveiling. A reproduction of the sculpture was unveiled outside the Grand Hotel in the Norwegian city of Oslo on March 8, 2018, as a permanent addition. It faces the Norwegian parliament Stortinget . Reports indicate another reproduction being installed in Johannesburg, South Africa in 2018, later moved to Cape Town. This
21060-554: The same day. On May 25, 2018, Stacey Cunningham , the NYSE's chief operating officer, became the Big Board's 67th president, succeeding Thomas Farley. She is the first female leader in the exchange's 226-year history. In March 2020, the NYSE announced plans to temporarily move to all-electronic trading on March 23, 2020, due to the COVID-19 pandemic . Along with the PHLX and the BSE ,
21222-542: The same year that the Blue Room and Extended Blue Room at 20 Broad Street would close, leaving only the main floor and the Garage; The former space at 20 Broad Street became a residential building in 2018. The NYSE Building's trading floor was closed for two months in 2020 during the COVID-19 pandemic in New York City , but electronic trading continued throughout. By the mid-2020s, The Wall Street Journal described
21384-516: The second-biggest one-day drop the exchange had experienced. Black Monday was followed by Terrible Tuesday, a day in which the Exchange's systems did not perform well and some people had difficulty completing their trades. Subsequently, there was another major drop for the Dow on October 13, 1989—the Mini-Crash of 1989 . The crash was apparently caused by a reaction to a news story of a $ 6.75 billion leveraged buyout deal for UAL Corporation,
21546-404: The section "Notable bell-ringers"). The signal to start and stop trading was not always a bell; a gavel was the original signal, which is still utilized alongside the bell. However, the gavel is frequently damaged. During the late 1800s, the NYSE decided to switch the gavel for a gong to signal the day's beginning and end. After the NYSE changed to its present location at 18 Broad Street in 1903,
21708-481: The singular goal of aiding and abetting a universe of mothers who tuck their daughters in at night whispering, 'Someday, honey, you can lead the emerging markets and sovereign debt team at Citigroup , and then become a director at Yahoo . ' " Christine Emba , an opinion writer for The Washington Post , wrote that the statue "portrays the empowered woman as a child, reinforcing the idea of femaleness as cute and inoffensive—a child with potential, maybe, but not all
21870-437: The site had to work around the old vault, which not only had to be preserved while the new vault and foundations were being built, but had to be delicately demolished afterward. Initially, the contractors had planned for the new structure to be completed within one year of the old building's closure. Various issues delayed the opening by one year, including difficulty in demolishing the old building, as well as alterations made to
22032-668: The southeast, as well as Bowling Green at the southern end of Manhattan. The NYSE also considered relocating to the World Financial Center in nearby Battery Park City , as well as a site in Jersey City across the Hudson River . City authorities offered $ 600 million in tax incentives to keep the NYSE in the Financial District, which in turn increased the cost of the new building. In late 1996,
22194-435: The statue should depict a girl with hands on her hips and chin up, with a height of 36 inches, which Kristen Visbal and her collaborators then increased to 50 inches, to better match the size of Charging Bull . Still, Visbal commented that "I made sure to keep her features soft; she's not defiant, she's brave, proud, and strong, not belligerent". She modeled the sculpture on two children from Delaware "so everyone could relate to
22356-400: The statue was developed by Senior Art Director Lizzie Wilson and Senior Copywriter Tali Gumbiner. Wilson and Gumbiner established both the idea for the statue as well as the overall look of the girl using countless moodboards and imagery, which Visbal referenced. Fearless Girl was originally given a one-week City Hall permit that was later extended to 30 days. Later, it was announced that
22518-430: The statue would remain in place through February 2018. Among those advocating for the statue to stay longer was U.S. Representative Carolyn Maloney of New York's 12th congressional district , who stated, "This statue has touched hearts across the world with its symbolism of the resiliency of women." New York City Public Advocate Letitia James wrote a letter that supported keeping the statue, "Fearless Girl stands as
22680-421: The top six floors spans 3,661 square feet (340.1 m) on average. The upper stories of both structures contain several event spaces. Goods had been traded on Wall Street as early as 1725. Auctioneers had intermediated securities exchanges until 1792, when brokers signed the Buttonwood Agreement to form an organization for securities trading , which later became the NYSE. In 1817, the organization re-formed as
22842-464: The top. Four transverse trusses spanning the width of the room, measuring 115 feet (35 m) long and 15 feet (4.6 m) thick, support the ceiling. These trusses are carried on pairs of pilasters at each end and subdivide the ceiling into coffers . The center of the ceiling is fitted with a 30-by-30-foot (9.1 by 9.1 m) skylight, while the rest of the ceiling was gilded upon the building's completion. As constructed, there were 500 telephones in
23004-554: The trading floor alone, and 200 miles (320 km) of fiber-optic cables below ground. There are four basement levels. The machinery, electric and steam plants, maintenance workers' rooms, and vaults are in the basement and subbasement underneath the first-story trading floor. The building was constructed with a steel safe deposit vault measuring about 118.58 feet (36 m) wide, 21 feet (6 m) long, and 9 feet 10 inches (3 m) high, weighing 776 short tons (693 long tons; 704 t) when empty. A basement corridor led to
23166-485: The trading floor as being much quieter than in the 20th century, amid a trend of financial firms leaving the neighborhood. The Financial Times described the trading floor in 2021 as "largely a TV studio" and said that most trading was done electronically in New Jersey. When the 18 Broad Street building was completed, publicist Ivy Lee wrote: "In outer contour it suggests the columnar, monumental architecture of
23328-483: The trading floor below. Some traders booed, and some laughed and waved. Three months later the stock exchange enclosed the gallery with bulletproof glass. Hoffman wrote a decade later, "We didn't call the press; at that time we really had no notion of anything called a media event." On October 19, 1987, the Dow Jones Industrial Average (DJIA) dropped 508 points, a 22.6% loss in a single day,
23490-405: The trading floor, each with multiple electronic screens, where securities were traded by a specialist. There is another trading floor at the northeast section of 11 Wall Street, nicknamed "the Garage". This floor is 106 feet (32 m) long and 50–80 feet (15–24 m) wide, while the ceiling is 43 feet (13 m) high. The decoration is similar to that of the main trading floor. Gray marble
23652-424: The way there." Daniela Peluso, an anthropologist, suggested that restating outdated and conventional gender stereotypes (the brave little girl vs the big bad male bull) is belittling and that it is vital to be aware that "gender discrimination and the corporate side-lining of women assume more nuanced and insidious forms, which such simplistic images obscure." On February 14, 2019, State Street Global Advisors filed
23814-508: The windows. The two southernmost bays on Broad Street, outside the colonnade, contain pairs of windows on each of the second through eighth stories. Above the colonnade on Broad Street is a triangular pediment, originally carved by the Piccirilli Brothers and designed by John Quincy Adams Ward and Paul Wayland Bartlett . The pediment measures about 100 feet (30 m) above the sidewalk and about 110 feet (34 m) wide. It
23976-434: Was able to rely upon the defense of innocent infringement. Overall, this meant that MBL is able to display its Australian replica legally. There was a dispute over what rights are held by the artist and State Street Global Advisors. Specifically, while SSGA claimed to have commissioned the work, these claims were challenged in court filings in the lawsuit between SSGA and Visbal. On May 29, 2017, artist Alex Gardega added
24138-615: Was cited as one cause of the Great Depression . The NYSE trading floor was closed for over a week during the Depression, in March 1933, after President Franklin D. Roosevelt signed the Emergency Banking Act . The marble sculptures of the pediment on Broad Street, which had deteriorated over the years, were replaced in 1936. The new figures were made of metal, though this was kept secret for eighteen years. At
24300-403: Was closed shortly after the beginning of World War I (July 31, 1914), but it partially re-opened on November 28 of that year in order to help the war effort by trading bonds , and completely reopened for stock trading in mid-December. On September 16, 1920, the Wall Street bombing occurred outside the building, killing forty people and injuring hundreds more. The Black Thursday crash of
24462-536: Was delivered to the floor electronically. NYSE works with US regulators such as the SEC and CFTC to coordinate risk management measures in the electronic trading environment through the implementation of mechanisms like circuit breakers and liquidity replenishment points. Following the Black Monday market crash in 1987, NYSE imposed trading curbs to reduce market volatility and massive panic sell-offs. Following
24624-547: Was expanded yet again in 1887 toward Broad Street. An 1891 guidebook characterized the Stock Exchange Building as a five-story French Renaissance marble structure, with a spur toward Wall Street, adjoining the Mortimer Building to the northeast. Even though the building sat largely on Broad and New Streets, it had become more closely associated with Wall Street. The building was largely shaped like
24786-465: Was hired for another extension of the previous Stock Exchange Building, which was completed in 1881. The expanded quarters provided better ventilation and lighting, as well as a larger board room. The expanded building, with a trading floor measuring 141 by 145 feet (43 by 44 m), was insufficient for the NYSE's needs by 1885. That year, the city's sanitary engineers described the plumbing and ventilation as inadequate. The board room, nearer New Street,
24948-413: Was increased several times over the years. In 1953, the number of seats was set permanently at 1,366. These seats were a sought-after commodity as they conferred the ability to directly trade stock on the NYSE, and seat holders were commonly referred to as members of the NYSE. Seat prices varied widely over the years, generally falling during recessions and rising during economic expansions. In January 1927
25110-426: Was intended to"send a message" about workplace gender diversity and encourage companies to recruit women to their boards . The plaque below the statue stated: "Know the power of women in leadership. SHE makes a difference," with SHE referring to both the gender of the subject and the NYSE ticker symbol of a SSGA supported and gender diverse index fund. The commission by State Street Global Advisors specified that
25272-439: Was looking to expand its trading floor again and, in 1985, announced an $ 11 million (equivalent to $ 26.47 million in 2023) extension of the Blue Room at 20 Broad Street, which would add 7,000 square feet (650 m) to the trading floor. This expansion was completed by 1988. In addition, the original bell inside the main trading floor was replaced in the late 1980s. The NYSE, AMEX, and J.P. Morgan & Co. proposed
25434-495: Was lost within five days of trading. The NYSE was only 5 blocks from Ground Zero . On May 6, 2010, the Dow Jones Industrial Average posted its largest intraday percentage drop since the crash on October 19, 1987, with a 998-point loss later being called the 2010 Flash Crash (as the drop occurred in minutes before rebounding). The SEC and CFTC published a report on the event, although it did not come to
25596-447: Was part of NYSE Euronext (NYX), which was formed by the NYSE's 2007 merger with Euronext . According to a Gallup poll conducted in 2022, approximately 58% of American adults reported having money invested in the stock market, either through individual stocks, mutual funds , or retirement accounts . The earliest recorded organization of securities trading in New York among brokers directly dealing with each other can be traced to
25758-408: Was the former site of a drainage ditch. As a result, caissons were used to excavate part of the 18 Broad Street site, and a concrete cofferdam was built around it. The remainder of the basement and subbasements were then excavated. The caissons were built of wood and measured 30 by 8 by 50 feet (9 m × 2 m × 15 m) each. The main trading floor (formerly the boardroom) on
25920-666: Was to start in 1903 after the plots' existing lease expired. The NYSE acquired the Swan Building on 8 Broad Street in January 1899, paying $ 425,000 (equivalent to $ 13.16 million in 2023) for the structure. The land cost $ 1.25 million in total (equivalent to $ 37.64 million in 2023). The resulting plot, with an estimated total value of $ 3.5 million (equivalent to $ 105.41 million in 2023), measured 153 feet (47 m) wide on New Street and 138 feet (42 m) wide on Broad Street. Eight architects were invited to participate in an architectural design competition for
26082-493: Was unveiled on December 10 at its new site facing the New York Stock Exchange Building . The Landmarks Preservation Commission met on December 14, 2021, and decided to renew its permit, but then handed over the decision to the Public Design Commission . In turn, the PDC granted an 11-month permit extension, but also charged SSGA and Visbal to reach an agreement on a permanent location. On June 20, 2023,
26244-461: Was usually the responsibility of the exchange's floor managers. Many of the people who ring the bell are business executives whose companies trade on the exchange, usually to announce new products, acquisitions, mergers or public offerings. However, there have also been many famous people from outside the world of business that have rung the bell, such as the Mayor of New York City Rudy Giuliani and
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