New ETFs; NY still leads, but...; the Panic of 1792; and Alexander Hamilton

By: Ray Pellecchia

File Under: NYSE

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Barclays Global Investors Launches Five iShares® FTSE NAREIT ETFs on NYSE Arca; First ETFs to Track Sub-Sectors of the Real Estate Market: NYSE Euronext subsidiary, NYSE Group, Inc., today announced five new initial ETF listings. iShares®, the world's largest ETF sponsor by assets under management, has created five iShares FTSE NAREIT Index ETFs and has selected NYSE Arca for listing and trading. (nyse.com)

NYSE chief says US leads in IPOs, still needs reform: John Thain on Friday said New York remains the world's leading home of initial public offerings, but he warned U.S. regulation and legal costs remain a deterrent to foreign companies. (Reuters)

Happy Monday, folks. This week I'll be trying to catch up on the mailbag. Plus, I attended part of the conference where Thain made the remarks referenced above, and i'll review my notes for anything else post-worthy.

Two bits of historical trivia for your Monday morning:

This Day in NYSE History:
1799: Willam Duer, whose large-scale speculations resulted in a financial panic, died. [Duer's passing probably was little mourned on Wall Street, still fairly fresh from the Duer-fomented Panic of March, 1792. However, that cloud had a silver lining: the need for responsibility and trust underscored by the Panic prompted 24 merchant-brokers to sign the "Buttonwood Agreement," in which they agreed to trade with one another and establish minimum commission rates. The agreement, signed under a buttonwood tree where the brokers regularly met, led to the establishment of NYSE. (NYSE.com)

History richer than money in Bank of New York vault: Next door to the New York Stock Exchange stands an art-deco tower overlooking the corner of Wall Street and Broadway that holds the ink-stained proof that The Bank of New York's pending takeover of Mellon Financial Corp. is not the first Western Pennsylvania foray for the nation's oldest financial institution. What the document shows, in fact, is that the bank's initial journey westward took place almost 213 years ago. A Sept. 28, 1794, letter from the office of U.S. Treasury Secretary Alexander Hamilton spells out the need for $200,000 from The Bank of New York to quell the "insurrection which has unfortunately taken place in the Western part of Pennsylvania" -- a reference to the rural uprising of grain farmers protesting a tax on distilled spirits sold in the newly formed United States. (Post-Gazette.com)

Tags: New York Stock Exchange, Hybrid Market, NYSE, NYSE Euronext, NYX, trading, stock market, ETFs, New York, IPOs, stock market history, Alexander Hamilton, Bank of New York