Thursday at the New York Stock Exchange
Thirty -two returning teachers met at the NYSE at 7:45 a.m. to begin a two-day update of NYSE information. It was great to know the routine for going through security, etc.
CEO, John Thain opened the seminar. He was just as good as last year. However, more relaxed and not as impeccably dressed. What a challenging job he has---herding nearly to 3,000 people down the path of incredible change. More about the changes later.
Before lunch, we heard from Tom Veit who is the senior VP of Corporate Listings. It is his job to sell listing on the NYSE to corporations going public and to woo already listed corporations from the Nasdaq to the NYSE. One third of the Exchange's revenues come from corporate listing fees--initial and annual. The NYSE now has corporate listing offices in London, Tokyo, and the west coast. The NYSE provides companies with first class market data, an orderly market when the stock is going up or down (a specialist steps in from 9 to 10 percent of the trades to provide orderly step ups and downs), and a centralized market by bringing buyers and sellers together.
After lunch, Mark Wille explained the new hybrid trading that will begin later this year. It is about speed vs best price. Susan Axelrod spoke about market regulation (member regulation, market surveillance, enforcement, listed company compliance--governance and financial). Glenn Tlyranski ended the day with Corporate Governance.
One nice thing---we had some quality throughout the day to network with other teachers and Stock Market Game coordinators to discuss activities they had successfully used in their classrooms.
A good day!
3:45:55 PM 
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