Car Rental NYC and the New York Stock Exchange

No trip to New York City would be complete without a visit to the nation's most powerful financial institution. The New York Stock Exchange, or NYSE for short, is the largest stock exchange (in dollar value) in the world. With a total market capitalization that's more than five times the NASDAQ, the NYSE is home to some serious international business. Operated by the NYSE Group, the New York Stock Exchange specializes in live trading as well as digital exchange. Almost all of the action takes place on the Wall Street trading floor, while the lesser known administrative issues are handled at 18 Broad Street. Although the New York Stock Exchange has been closed to tourists since the terrorist attacks of 9/11, it is still worth visiting on your car rental NYC vacation. From photo-ops to history lessons, the NYSE is ripe with opportunity so don't miss your chance to see it today.

How the Stock Exchange Works

If you're like most car rental NYC customers chances are good you're a little unfamiliar with the stock exchange process. But don't worry - a few quick facts can clear that up. First of all, the New York Stock Exchange functions in a continuous auction format. This means that exchange members act as potential buyers, haggling with a specialist broker for the best selling price. The fact that the NYSE still relies on human interaction is unusual. Most markets now focus almost completely on electronic flow. A proposal to make the market 50% live trading and 50% digital has been put forth, and several facets have already made the digital shift. It seems highly unlike that a complete digitalization will occur anytime soon though. The frenzied commotion of person-to-person trading on Wall Street is just too much a part of the exchange's overall function. There are currently 1366 seats on the stick exchange. This means that 1366 entities confer the ability to directly trade stock on the exchange. These seats are some of the most sought after spots in the entire business world. The most expensive seat ever sold would have cost nearly 6 million dollars in today's market (it went for $626,000 in 1929).

The Opening Bell

So what do professional athletes like Lebron James, beautiful actresses like Sarah Jessica Parker and major CEO's like Frank Weise of the Cott Corporation have in common? (Well, aside from being rich.) All three have participated in the coveted ringing of the stock exchange's opening bell. Mounted high above the trading floor on Wall Street, the New York Stock Exchange Bell is rang every morning and every night to begin and end trading for the day. This little touch of Hollywood hasn't always been a part of the daily grind though. Before 1956 the ringing of the bell was generally handled by floor managers. Today, anyone who's anyone has rang the opening bell at the New York Stock Exchange, enjoying a brief 15 minutes of financial fame. Although the opportunity posses no real benefit to a person's career, hundreds of celebrities have insisted that it's been a major highlight of their career.

A Building Made of Money

The trading floor at the New York Stock Exchange sees billions of dollars trade hands each and every day. Even the biggest banks in the world have been baffled by the amounts posted on the floor's gigantic trading board. If you would like to catch a glimpse of this multi-billion dollar business during your upcoming car rental NYC vacation simply drop by 11 Wall Street. A handful of suits and briefcases can be found standing out front talking on cell phones at all hours of the days. Inside the building there are five major trading rooms and a number of smaller offices. The main building, which also houses some administrative offices, is located at 18 Broad Street between the corners of Wall Street and Exchange Place. The building is currently listed on the National Register of Historic Places. Car rental NYC travelers are encouraged to visit this monumental building during their upcoming vacation. The exterior features a number of statues as well as American flags. Car rental NYC parking can be found within walking distance of both buildings.

Check out the Brooklyn car rental All Car Rent a Car location at 8901 4th Ave, Brooklyn, NY 11209