The New York Stock Exchange is the New York-based, privately owned stock exchange. It is the largest in the world by dollar volume and second largest by number of companies listed. When visiting with your car rental in New York, this is a must-see for any financial buff.

How to trade in the financial district

The New York Stock Exchange is a fully electronic stock exchange. The trading floor is found at 11 Wall Street, with five rooms used for trading. The main building, which is the most recognizable, is located at 18 Broad Street, between the corners of Wall Street and Exchange Place. All of these landmarks are well-known great for sight-seeing.

Learning the game

As you are driving around the New York Stock Exchange with your sports car rental in New York, you will probably want to know a little about how the stock exchange works (other than what your banker tells you). The NYSE operates in a continuous auction format. There is a specific location on the trading floor where each stock is listed. Members who are interested in buying and selling a particular stock on behalf of investors gather around a post, where a specialist broker (who is employed by the NYSE) acts as an auctioneer in an open outcry market environment. Most of the time, the market works well to help make the price effective and fair. This human interaction at the NYSE is what differentiates this stock exchange from other electronic ones. What you may see in movies about the NYSE is fairly accurate. There is a lot of frenzied commotion here as people are trying to get the best prices for the stocks they are buying and selling for their investors.

Stepping out on the floor and back in history

The origins of the NYSE can be traced back to 1792 when an agreement was signed among 68 stock brokers. But it wasn't until 1863 that the current name came into use. The New York Stock Exchange was closed shortly after the beginning of the First World War, but reopened soon after to trade war bonds.

Who said finance was boring?

In 1920, a bomb exploded outside of the stock exchange, marks from which can still be found today if you drive by with your minivan rental in New York. The perpetrators were never found for this crime, which killed 33 people and injured more than 400 more.

In October 1929 one of the most traumatic world events was set into motion from the events that took place at the stock exchange. On a day that is now known as Black Tuesday, brokers panicked and sold off massive amounts of stock, a move that helped contribute to the beginning of the Great Depression.

The NYSE is a very exciting place to visit. If you need a set of wheels to help you get around New York, Prestige Car Rental has several van rentals, SUV rentals and car rentals to make your traveling easier!