The New York Stock Exchange traces its history back to 1792 and is a corporation owned by its members in a form of organization

Аннотация

The New York Stock Exchange traces its history back to 1792 and is a corporation owned by its members in a form of organization. The business of the New York Stock Exchange is governed by a board of directors, appointed by its members. The number of members of the exchange has not changed since 1988 and is 1,469 people. Every year, several dozen places replace their owners, but the New York Stock Exchange member contingent is characterized by high stability, which ranks the exchange among the most prestigious institutions in modern America. Key words: New York, brokers, specialists, assignment, New York Stock Exchange The leading role in the exchange is played by members of two categories of the New York Stock Exchange: brokers and specialists. Experts attribute the disadvantage of the New York Stock Exchange to (in the late 1992, their number was equal to 412 people), but they have long been the leading group of exchange-makers, the influence of which is still great today. The strength of specialists is that they monopolized the conclusion of direct transactions - brokers do not have the right to conduct transactions at their own expense and only convey to specialists their assignment on the purchase and sale of shares of customers. There are no experts, and each of them maintains operas on strictly defined securities issues. The specialist maintains operations at his own expense, he does not have the right to trade directly with exchange customers. Only the exchangers themselves can participate in its transactions as counterparties. The essence of the activities of specialists is that when he literally translates from the American Stock Exchange terminology, he "makes the market by closing the break in prices."The information given in the conditional example below describes this activity (in dollars).In this example, the difference between the investors involved as sellers (exchange customers) 23 ACADEMIC RESEARCH IN MODERN SCIENCE International scientific-online conference and the prices offered by buyers is large, which is 1 dollar. Under such conditions, the possibility of concluding a transaction is unlikely. The task of the specialist is to participate as the buyer offering the highest price and as the seller offering the lowest price. In this case, the difference between the price is up to $ 0.5, that is, twice as short. As a result of this, the likelihood of concluding a transaction increases. The difference between the price of the seller and the buyer offered to the participants of the fund's operas (doll.) purchase by course sale by course directly entered into a relationship with shareholders-brokers who accept assignments on the sale of shares (the number of them on the New York Stock Exchange is 611 people). Standard assignments are awarded at 100 times the number of shares (the number of shares smaller operas is rare: their share in the volume of total operas was around 0.5-1% in 1991). For the conclusion of the transaction, the broker receives a commission reward from the client: until 1975, their amount is strictly fixed and depends on the size of the transaction. The remaining members of the New York Stock Exchange play a secondary role. They perform operations at their own expense and stand close to specialists in their role in the exchange mechanism, the rest are brokerage functions, not only for investors, but also for brokers who give part of the tasks of investors who have accumulated in them. Some individuals have membership rights on the New York Stock Exchange, but if a member of the exchange is considered one of the owners of the firm, the entire firm is a member of the New York Stock Exchange. Among the firms that are part of the New York Stock Exchange, dozens of Investiture banks, which occupy the main positions on the American Stock Exchange, lead. In order to receive securities on the New York Stock Exchange to kotiroka, they must meet the following requirements: placed shares have a market value of 16 million. not less than a dollar; at least 1 million in circulation. having Ordinary Shares; owners of" full lots", that is, holders of 100 shares or more, are at least 2 thousand people; for the last fiscal year, the income of the corporation before the filing of taxes is at least 2.5 million. dollars, and for each of the two previous years - at least 2 million. the dollar should be. The exchange's Board of Directors also assesses the corporation's nationwide popularity level, the company's position on the network, overall status, and development prospects. An important condition for listing Corporation securities on the stock exchange is the obligation to provide investors with time information about its activities.As a result of the imbalance of supply and demand in two cases, the Suspension (Suspension) of the 24 ACADEMIC RESEARCH IN MODERN SCIENCE International scientific-online conference quotation of shares of the company or the withdrawal of the company from the line of