• Mar
  • 27
  • 2007
  • 10:25 AM

Links for March 27, 2007

By: Ray Pellecchia
File Under: NYSE

NYSE Proposes Floor-Broker Access To Away Markets -- In an acknowledgement of electronic-trading and market-integration realities, the New York Stock Exchange is proposing that traders on its floor be able to access markets away from the exchange to execute orders in listed stocks. An NYSE Group spokesperson confirmed that the proposal was under scrutiny but hadn't yet been filed with the Securities and Exchange Commission. The "notion is in the early stages of consideration," he said, declining to comment further. (Securities Industry News/subscription)

Honor and Symbol -- The other day we had the privilege of having visitors from University of Virginia's Darden School of Business ring the NYSE bell. They were holding a two-day conference here on emerging markets, and Dean Robert F. Bruner accepted our invitation to ring in the session. I met Dean Bruner before the bell and complimented him on his blog, which I had seen while checking out the school's Web site. He seemed like a nice, quiet guy, taking it all in. Well, after he took it all in, he gave it all back in best blogger fashion by posting a very thoughtful entry about the bell ringing, probably the best bit of writing I've ever seen on the subject. Yours truly even makes an anonymous appearance as the handler briefing the dean (see, I told you I had a day job besides this blogging gig!). Anyway, highly recommended reading.

Today in NYSE History -- 27 March 1895: The NYSE adopted a standard to remove inactively traded securities from the list.

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Comments

the link to honor and symbol brought our comunity a great piece on what the floor means to american business. I remember when I had to go to the NYSE for training for our agency desk and was told by our floor broker that I couldn't wander off on my own without him...well at 3:57 pm I snuck away and went beneath the balcony to observe the closing bell and thought...That's it! What an honor it would be to ring the bell at the epicenter of capitalism! I didn't get busted by the floor officials and I really got a thrill to witness it. I had worked at the CBOE prior to going to an upstairs trading operation and consider it one of the highlights of my carear as to having the privilege of being on the NYSE as part of my wall street training. Any way, Ray-Thanks for the great blog. Your love of wall street and the NYSE in particular shines through. I can relate to it and it brings stabilty in these times of market change.

Steve.

by steve on March 28, 2007 11:42 PM

Steve -- What a terrific note! Made my morning.

Thanks for sharing your experience. I'm sure many others can relate. Any other anecdotes out there are of course welcome.

by Ray Pellecchia on March 29, 2007 9:47 AM

I too assisted in ringing the Closing Bell. On the surface it's a little thing but it had a powerful impact on me. Our country and the world has benefited immeasurably by the ability of the Exchange to raise capital and provide a fair market place for centuries. To be a visible part of that history was a thrill I will remember for the rest of my life.

by Bill James on April 17, 2007 2:27 PM

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