A Big Day for the New York Stock Exchange (NYSE)
A momentous and historical event takes place tomorrow, Wednesday. The New York Stock Exchange will become a publicly-traded, publicly-owned corporation. It will begin trading Wednesday morning on the New York Stock Exchange under the symbol NYX.
The New York Stock Exchange located at 11 Wall Street in New York had its beginnings on May 7, 1792, when 24 brokers signed the Buttonwood Agreement. This agreement eventually eliminated their major competitors. In 1817 this same group of brokers became a formal business entity, the New York Stock & Exchange Board. For 189 years, through mergers and the competitive spirit, the NYSE has remained the leading stock exchange in the United States.
During the mid 1990s the Nasdaq electronic market became a serious competitor to the NYSE. To bring itself into the electronic market, the NYSE merged with the publicly-traded Archipelago electronic market. On Wednesday, the resulting corporation becomes the publicly-traded New York Stock Exchange.
You will note that the NYSE did not use the usual IPO approach--an initial public stock offering--to become a publicly traded corporation. Instead, they chose to go public through a merger with an already publicly-traded company.
Here is a good article about the NYSE becoming a publicly-traded company---World's Biggest Stock Exchange Goes Public in Growth Quest by Belinda Goldsmith.
History of the NYSE: at Timeline at the NYSE site and at
Wikipedia.
10:17:20 PM 
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