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115-585: Coffeyville Resources is owned by CVR Energy Inc ( NYSE :  CVI ), of Sugar Land, Texas . CVR Energy, Inc. was listed as a 2012 Fortune 500 company and was ranked No. 5 public company according to the Houston Chronicle. The refinery was built in 1906 by the National Refining Company , which was then the second largest oil company in the United States. Built on 75 acres (30 ha),

230-456: A National Historic Landmark in 1978. 18 Broad Street is also a New York City designated landmark . The New York Stock Exchange is closed on New Year's Day , Martin Luther King Jr. Day , Washington's Birthday , Good Friday , Memorial Day , Juneteenth National Independence Day , Independence Day , Labor Day , Thanksgiving , and Christmas . When those holidays occur on a weekend,

345-491: A 12-story building at 80 Pine Street, a 26-story building at 123 William Street, and a few others were built in 1957. By the end of the decade, Lower Manhattan had become economically depressed, in comparison with Midtown Manhattan , which was booming with the continued march uptown . David Rockefeller spearheaded widespread urban renewal efforts in Lower Manhattan, beginning with constructing One Chase Manhattan Plaza ,

460-431: A 203-year process of paper transactions and ushering in an era of automated trading. As of January 24, 2007, all NYSE stocks can be traded via its electronic hybrid market (except for a small group of very high-priced stocks). Customers can now send orders for immediate electronic execution, or route orders to the floor for trade in the auction market. In the first three months of 2007, in excess of 82% of all order volume

575-515: A base value of 50 points equal to the 1965 yearly close. This was done to reflect the value of all stocks trading at the exchange, in contrast with the then predominant Dow Jones Industrial Average which tracks just 30 stocks. To raise the profile of the composite index, in 2003, the NYSE set its new base value of 5,000 points equal to the 2002 yearly close. Its close at the end of 2013 was 10,400.32. In October 2008, NYSE Euronext completed acquisition of

690-470: A change of ownership of a corporation holding a trading license. The Barnes family is the only known lineage to have five generations of NYSE members: Winthrop H. Barnes (admitted 1894), Richard W.P. Barnes (admitted 1926), Richard S. Barnes (admitted 1951), Robert H. Barnes (admitted 1972), Derek J. Barnes (admitted 2003) . In the mid-1960s, the NYSE Composite Index (NYSE: NYA) was created, with

805-605: A conclusion as to the cause. The regulators found no evidence that the fall was caused by erroneous ("fat finger") orders. On October 29, 2012, the stock exchange was shut down for two days due to Hurricane Sandy . The last time the stock exchange was closed due to weather for a full two days was on March 12 and 13, 1888. On May 1, 2014, the stock exchange was fined $ 4.5 million by the Securities and Exchange Commission to settle charges that it had violated market rules. On August 14, 2014, Berkshire Hathaway 's A Class shares,

920-546: A deal in which NASDAQ would have taken control of the stock exchanges. NYSE Euronext rejected this offer twice, but it was finally terminated after the United States Department of Justice indicated their intention to block the deal due to antitrust concerns. In December 2012, ICE had proposed to buy NYSE Euronext in a stock swap with a valuation of $ 8 billion. NYSE Euronext shareholders would receive either $ 33.12 in cash, or $ 11.27 in cash and approximately

1035-565: A delegation to Philadelphia to observe the organization of their board of brokers, restrictions on manipulative trading were adopted, as well as formal organs of governance. After re-forming as the New York Stock and Exchange Board, the broker organization began renting out space exclusively for securities trading, which previously had been taking place at the Tontine Coffee House . Several locations were used between 1817 and 1865, when

1150-549: A for-profit, public company. It began trading under the name NYSE Group on March 8, 2006. On April 4, 2007, the NYSE Group completed its merger with Euronext, the European combined stock market, thus forming NYSE Euronext , the first transatlantic stock exchange. Wall Street is the leading U.S. money center for international financial activities and the foremost U.S. location for the conduct of wholesale financial services. "It comprises

1265-399: A for-profit, publicly traded company. Seat owners received $ 500,000 in cash per seat and 77,000 shares of the newly formed corporation. The NYSE now sells one-year licenses to trade directly on the exchange. Licenses for floor trading are available for $ 40,000 and a license for bond trading is available for as little as $ 1,000 as of 2010. Neither are resellable, but may be transferable during

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1380-597: A higher percentage than in Philadelphia or Boston . The 1735 libel trial of John Peter Zenger in the city was a seminal influence on freedom of the press in North America. It would be a standard for the basic articles of freedom in the United States Declaration of Independence . By the 1740s, with expansion of settlers, 20% of the population of New York were slaves, totaling about 2,500 people. After

1495-679: A matrix of wholesale financial sectors, financial markets, financial institutions, and financial industry firms" (Robert, 2002). The principal sectors are securities industry, commercial banking, asset management, and insurance. Prior to the acquisition of NYSE Euronext by the ICE in 2013, Marsh Carter was the Chairman of the NYSE and the CEO was Duncan Niederauer . Currently, the chairman is Jeffrey Sprecher. In 2016, NYSE owner Intercontinental Exchange Inc. earned $ 419 million in listings-related revenues. The exchange

1610-592: A mile north of Chambers Street, and 23rd Street , roughly half a mile north of 14th Street. Lower Manhattan's central business district forms the core of the area below Chambers Street and includes the Financial District , commonly known as Wall Street after the name of its primary artery, and the World Trade Center site . At the island's southern tip is Battery Park , near the Bowling Green ; City Hall

1725-485: A more modern, continuous trading system superior to the NYSE's twice-daily call sessions". The Open Board of Stock Brokers merged with the NYSE in 1869. Robert Wright of Bloomberg writes that the merger increased the NYSE's members as well as trading volume, as "several dozen regional exchanges were also competing with the NYSE for customers. Buyers, sellers and dealers all wanted to complete transactions as quickly and cheaply as technologically possible and that meant finding

1840-539: A new Independence Plaza, Washington Market Park , and other developments. Lower Manhattan retains the most irregular street grid plans in the borough. Throughout the early decades of the 1900s, the area experienced a construction boom, with major towers such as 40 Wall Street , the American International Building , Woolworth Building , and 20 Exchange Place being erected. Many new water crossings into Lower Manhattan were built at this time, including

1955-515: A peace treaty on August 29, 1645. On May 27, 1647, Peter Stuyvesant was inaugurated as director general upon his arrival. The colony was granted self-government in 1652, and New Amsterdam was formally incorporated as a city on February 2, 1653. The first mayors ( burgemeesters ) of New Amsterdam, Arent van Hattem and Martin Cregier , were appointed in that year. In 1664, the English conquered

2070-526: A per ton of fertilizer produced basis and prices have been more stable when compared to natural gas prices. By using petroleum coke as the primary raw material feedstock instead of natural gas, CVR Partners’ nitrogen fertilizer business has historically been the lowest cost producer and marketer of ammonia and UAN fertilizers in North America. In 2011, Coffeyville Resources Nitrogen Fertilizers produced 116,800 tons of ammonia available for sale, and also produced 714,100 tons of UAN. According to CVR's filings with

2185-749: A result of Alexander Hamilton 's policies and practices as the first Secretary of the Treasury and, later, with the opening of the Erie Canal in 1825, which connected the Atlantic port to the vast agricultural markets of the North American interior. Immigration resumed after being slowed by wars in Europe, and a new street grid system, the Commissioners' Plan of 1811 , expanded to encompass all of Manhattan. Early in

2300-416: A series of fires in 1741, the city became panicked that blacks planned to burn the city in a conspiracy with some poor whites. Historians believe their alarm was mostly fabrication and fear, but officials rounded up 31 blacks and 4 whites, all of whom were convicted of arson and executed. City officials executed 13 blacks by burning them alive and hanged 4 whites and 18 blacks. In 1754, Columbia University

2415-428: A sixth of a share of ICE. Jeffrey Sprecher , the chairman and CEO of ICE, will retain those positions, but four members of the NYSE board of directors will be added to the ICE board. On January 24, 2023, a glitch in NYSE caused panic due to unintentional trade orders opened and closed in more than 250 securities. The NYSE's opening and closing bells mark the beginning and the end of each trading day. The opening bell

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2530-399: Is among the lowest cost producers and marketers of upgraded nitrogen fertilizer products in North America. Production Process - The technology and processes used to produce ammonia and UAN are complex. The gasifier converts low priced petroleum coke into a hydrogen rich synthesis gas. The syngas is then converted into anhydrous ammonia in an ultra high efficiency ammonia plant. Subsequently,

2645-647: Is delineated on the north by 14th Street , on the west by the Hudson River , on the east by the East River , and on the south by New York Harbor . Its northern border is designated by thoroughfares about a mile-and-a-half south of 14th Street and a mile north of Manhattan 's southern tip around Chambers Street near the Hudson River east of the entrances and overpass to the Brooklyn Bridge . Two other major arteries to Lower Manhattan are Canal Street , roughly half

2760-466: Is employed by a NYSE member firm (that is, they are not an employee of the New York Stock Exchange), acts as an auctioneer in an open outcry auction market environment to bring buyers and sellers together and to manage the actual auction. They do on occasion (approximately 10% of the time) facilitate the trades by committing their own capital and as a matter of course disseminate information to

2875-571: Is north of the Financial District. South of Chambers Street are Battery Park City and South Street Seaport . TriBeCa straddles Chambers Street on the west side; at the street's east end is the giant Manhattan Municipal Building . North of Chambers Street and the Brooklyn Bridge and south of Canal Street is the Chinatown neighborhood , home to the largest concentration of Chinese people in

2990-464: Is open for trading Monday through Friday from 9:30 am – 4:00 pm ET , with the exception of holidays declared by the Exchange in advance. Proposals for round-the-clock trading have been considered by NYSE. The NYSE trades in a continuous auction format, where traders can execute stock transactions on behalf of investors. They will gather around the appropriate post where a specialist broker, who

3105-425: Is rung at 9:30 am ET to mark the start of the day's trading session. At 4 pm ET the closing bell is rung and trading for the day stops. There are bells located in each of the four main sections of the NYSE that all ring at the same time once a button is pressed. There are three buttons that control the bells, located on the control panel behind the podium which overlooks the trading floor. The main bell, which

3220-417: Is rung at the beginning and end of the trading day, is controlled by a green button. The second button, colored orange, activates a single-stroke bell that is used to signal a moment of silence. A third, red button controls a backup bell which is used in case the main bell fails to ring. The ringing of the bells usually accompanied with applause and is often done by VIPs and celebrities (See pictures and

3335-509: Is the southernmost part of the New York City borough of Manhattan . The neighborhood is the historical birthplace of New York City and for its first 225 years was the entirety of the city. Lower Manhattan serves as the seat of government of both Manhattan and the entire City of New York. Because there are no municipally defined boundaries for the neighborhood, a precise population cannot be quoted, but several sources have suggested that it

3450-548: The 1997 Mini-Crash but from which the DJIA recovered quickly. This was the first time that the " circuit breaker " rule had operated. On January 26, 2000, an altercation during filming of the music video for Rage Against the Machine 's " Sleep Now in the Fire ", directed by Michael Moore , caused the doors of the exchange to be closed and the band to be escorted from the site by security after

3565-642: The American Stock Exchange (AMEX) for $ 260 million in stock. On February 15, 2011, NYSE and Deutsche Börse announced their merger to form a new company, as yet unnamed, wherein Deutsche Börse shareholders would have 60% ownership of the new entity, and NYSE Euronext shareholders would have 40%. On February 1, 2012, the European Commission blocked the merger of NYSE with Deutsche Börse , after commissioner Joaquín Almunia stated that

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3680-401: The Brooklyn Bridge in Lower Manhattan. Municipal governments contained within the boroughs were abolished, and the county governmental functions, housed in Lower Manhattan after unification, were absorbed by the city or each borough. Washington Market was located between Barclay and Hubert Streets, and from Greenwich Street to West Street . It was demolished in the 1960s and replaced by

3795-611: The Buttonwood Agreement . Previously, securities exchange had been intermediated by the auctioneers , who also conducted more mundane auctions of commodities such as wheat and tobacco. On May 17, 1792, twenty-four brokers signed the Buttonwood Agreement, which set a floor commission rate charged to clients and bound the signers to give preference to the other signers in securities sales. The earliest securities traded were mostly governmental securities such as War Bonds from

3910-460: The East Village , and Downtown Brooklyn and on par with Downtown Jersey City and Williamsburg . In June 2015, The New York Times wrote that Lower Manhattan's dining scene was experiencing a renaissance. There are over 400 casual dining and more than 100 full-service dining restaurants in the area. The Village Voice , based at 80 Maiden Lane in the Financial District and historically

4025-641: The Financial District of Lower Manhattan in New York City . It is the largest stock exchange in the world by market capitalization . The NYSE trading floor is located at the New York Stock Exchange Building on 11 Wall Street and 18 Broad Street and is a National Historic Landmark . A previous trading room, at 30 Broad Street , was closed in February 2007. The NYSE is owned by Intercontinental Exchange , an American holding company that it also lists (ticker symbol ICE). Previously, it

4140-617: The Flatiron District , Gramercy , and Stuyvesant Town–Peter Cooper Village . The area that would eventually encompass modern-day New York City was inhabited by the Lenape people. These groups of culturally and linguistically identical Native Americans who spoke an Algonquian language now referred to as Unami . European settlement began with the founding of a Dutch fur trading post in Lower Manhattan, later called New Amsterdam ( Dutch : Nieuw-Amsterdam ) in 1626. The first fort

4255-777: The New York Stock Exchange , the Federal Reserve Bank of New York , and other major financial institutions. A center of culture and tourism , Lower Manhattan is home to many of New York City's most iconic structures, including New York City Hall , the Woolworth Building , the Stonewall Inn , the Bull of Wall Street , and One World Trade Center , the tallest skyscraper in the Western Hemisphere . Lower Manhattan

4370-690: The Port Authority decided to build the World Trade Center on a site along the Hudson River and the West Side Highway , rather than the East River site. When building the World Trade Center , 1.2 million cubic yards (917,000 m ) of material was excavated from the site. Rather than dumping the spoil at sea or in landfills, the fill material was used to expand the Manhattan shoreline across West Street, creating Battery Park City . The result

4485-748: The President of South Africa Nelson Mandela . Two United Nations Secretaries General have also rung the bell. On April 27, 2006, Secretary-General Kofi Annan rang the opening bell to launch the United Nations Principles for Responsible Investment . On July 24, 2013, Secretary-General Ban Ki-moon rang the closing bell to celebrate the NYSE joining the United Nations Sustainable Stock Exchanges Initiative . Lower Manhattan Lower Manhattan , also known as Downtown Manhattan or Downtown New York City ,

4600-597: The September 11 attacks in 2001, two of four hijacked planes were flown into the Twin Towers of the original World Trade Center , and the towers collapsed. The 7 World Trade Center was not struck by a plane but uncontrolled fires that were caused by falling debris resulted in the building's collapse; a first in the history of steel framed skyscrapers. The 3, 4, 5, and 6 World Trade Center buildings were damaged beyond repair or destroyed, and soon after demolished. The collapse of

4715-464: The U.S. Securities and Exchange Commission , with a president and a thirty-three-member board. On February 18, 1971, the non-profit corporation was formed, and the number of board members was reduced to twenty-five. One of Abbie Hoffman 's well-known publicity stunts took place in 1967, when he led members of the Yippie movement to the Exchange's gallery. The provocateurs hurled fistfuls of dollars toward

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4830-591: The Western Hemisphere . Many court buildings and other government offices are located in this area. The Lower East Side neighborhood straddles Canal Street. North of Canal Street and south of 14th Street are SoHo , the Meatpacking District , the West Village , Greenwich Village , Little Italy , Nolita , and the East Village . Between 14th and 23rd Streets are lower Chelsea , Union Square ,

4945-623: The Williamsburg Bridge in 1903 and the Manhattan Bridge in 1909. The Holland Tunnel to New Jersey opened in 1927, while the Brooklyn–Battery Tunnel to Brooklyn opened in 1950 and was the last major fixed crossing to be built to Lower Manhattan. Despite these road connections opening, the economic center of New York City began to shift from Lower Manhattan to Midtown with the opening of many commuter rail terminals at

5060-637: The Woolworth Building , 40 Wall Street (also known as the Trump Building), 26 Wall Street (also known as the Standard Oil Building), and 70 Pine Street (also known as the American International Building ). In 1966, the commercial district of Radio Row on Cortlandt Street was demolished to make way for construction of the former World Trade Center. Downtown in the context of Manhattan, and of New York City generally, has different meanings to different people, especially depending on where in

5175-667: The 'blight' of many tenement areas, by demolishing slums, factories, and working-class neighborhoods through public works such as the High line , the West Side Highway and FDR Drive , built housing projects, expanded new parks, rebuilt streets, and zoning controls , especially in Lower Manhattan. The zoning changes were intended to displace the industrial workforce by removing zoning protection for industrial space and incentivizing upscale residential and clerical redevelopment. The port of New York, despite its physical suitability for berthing and its close proximity to Europe, began to deteriorate due to

5290-401: The 19th century, the landfill was used to expand Lower Manhattan from the natural Hudson shoreline at Greenwich Street to West Street . In 1898, the modern City of New York was formed with the consolidation of Brooklyn (until then an independent city), Manhattan and outlying areas. The borough of Brooklyn incorporated the independent City of Brooklyn, recently joined to Manhattan by

5405-474: The 2011 rule change, at the start of each trading day, the NYSE sets three circuit breaker levels at levels of 7% (Level 1), 13% (Level 2), and 20% (Level 3) of the average closing price of the S&;P 500 for the preceding trading day. Level 1 and Level 2 declines result in a 15-minute trading halt unless they occur after 3:25 pm, when no trading halts apply. A Level 3 decline results in trading being suspended for

5520-569: The British in North America for the remainder of the war and a haven for Loyalist refugees. Continental Army officer Nathan Hale was hanged in Manhattan for espionage. In addition, the British began to hold the majority of captured American prisoners of war aboard prison ships in Wallabout Bay , across the East River in Brooklyn . More Americans died from neglect aboard these ships than died in all

5635-552: The Downtown Lower Manhattan Association contributed to a city plan calling for the revitalization of Lower Manhattan. The plan included recommended zoning changes, tax incentives to encourage new tenants, and the conversion of commercial buildings into apartments. It also called for the creation of a business improvement district, called The Alliance for Downtown New York, to help spur the area's renewal. Between 1995 and 2014, 15.8 million square feet of office space

5750-473: The Exchange on October 24, 1929, and the sell-off panic which started on Black Tuesday , October 29, are often blamed for precipitating the Great Depression . In an effort to restore investor confidence, the Exchange unveiled a fifteen-point program aimed to upgrade protection for the investing public on October 31, 1938. On October 1, 1934, the exchange was registered as a national securities exchange with

5865-431: The NYSE imposed rules restricting brokers from voting uninstructed shares. The Stock Exchange Luncheon Club was situated on the seventh floor from 1898 until its closure in 2006. On April 21, 2005, the NYSE announced its plans to merge with Archipelago in a deal intended to reorganize the NYSE as a publicly traded company. NYSE's governing board voted to merge with rival Archipelago on December 6, 2005, and became

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5980-454: The NYSE reopened on May 26, 2020. The main New York Stock Exchange Building , built in 1903, is at 18 Broad Street, between the corners of Wall Street and Exchange Place, and was designed in the Beaux Arts style by George B. Post . The adjacent structure at 11 Wall Street, completed in 1922, was designed in a similar style by Trowbridge & Livingston . The buildings were both designated

6095-689: The Revolutionary War and First Bank of the United States stock, although Bank of New York stock was a non-governmental security traded in the early days. The Bank of North America , along with the First Bank of the United States and the Bank of New York, were the first shares traded on the New York Stock Exchange. In 1817, the stockbrokers of New York, operating under the Buttonwood Agreement , instituted new reforms and reorganized. After sending

6210-633: The Twin Towers also caused extensive damage to surrounding buildings and skyscrapers in Lower Manhattan. A total of 2,753 people, including those on the planes, were killed in New York. About 400,000 people, including rescue workers and residents of the area were exposed to toxic dust and debris; many developed serious respiratory illnesses, cancers, and other harms arising from the attack, and 3,496 died. Following September 11, Lower Manhattan lost much of its economy and office space but has since rebounded significantly. Private sector employment reached 233,000 at

6325-547: The US DOE's Energy Information Agency, the unit capacities for the CVR Coffeyville Refinery are presented below: In addition, the refinery is planning to build a renewable diesel/SAF plant using UOP's EcoFining technology to produce up to 30,000 bpd of SAF and/or Renewable Diesel. New York Stock Exchange The New York Stock Exchange ( NYSE , nicknamed " The Big Board ") is an American stock exchange in

6440-729: The World Trade Center, brought many new residents to the area. Gateway Plaza, the first Battery Park City development, was finished in 1983. The project's centerpiece, the World Financial Center , consists of four luxury highrise towers. By the turn of the century, Battery Park City was mostly completed, with the exception of some ongoing construction on West Street. Around this time, Lower Manhattan reached its highest population of business tenants and full-time residents. These developments struggled to become fully occupied at desirable rents, with relatively high vacancy rates. In 1993,

6555-493: The ammonia is further upgraded into UAN in a fully integrated UAN plant. The majority of the petroleum coke used in the state-of-the-art gasification process is supplied by the Coffeyville Resources Refining & Marketing, refinery located adjacent to the fertilizer operations which is owned by its parent company CVR Energy. Historically, petroleum coke has been significantly less expensive than natural gas on

6670-520: The area and renamed it " New York " after the Duke of York and the city of York in Yorkshire. At that time, people of African descent made up 20% of the population of the city, with European settlers numbering approximately 1,500, and people of African descent numbering 375 (with 300 of that 375 enslaved and 75 free). While it has been claimed that African slaves comprised 40% of the small population of

6785-539: The area of Manhattan south of Canal Street. Within business-related contexts, many people use the term Downtown Manhattan to refer only to the Financial District and the corporate offices in the immediate vicinity. For instance, the Business Improvement District managed by the Alliance for Downtown New York defines Downtown as south of Murray Street (essentially South of New York City Hall ), which includes

6900-585: The battles of the war. British occupation lasted until November 25, 1783. George Washington triumphantly returned to the city that day, as the last British forces left the city . Starting in 1785, the Congress met in New York City under the Articles of Confederation . In 1789, New York City became the first national capital of the United States under the new United States Constitution . The Constitution also created

7015-402: The button that signals the bells to ring. Due to the amount of coverage that the opening/closing bells receive, many companies coordinate new product launches and other marketing-related events to start on the same day as when the company's representatives ring the bell. It was only in 1995 that the NYSE began having special guests ring the bells on a regular basis; prior to that, ringing the bells

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7130-413: The city at that time, this claim has not been substantiated. During the mid-1600s, farms of free blacks covered 130 acres (53 ha) where Washington Square Park later developed. The Dutch briefly regained the city in 1673 , renaming the city " New Orange ", before permanently ceding the colony of New Netherland to the English for what is now Suriname in November 1674. The new English rulers of

7245-468: The city they reside. Residents of the island or of The Bronx generally speak of going "downtown" to refer to any southbound excursion to any Manhattan destination. A declaration that one is going to be "downtown" may indicate a plan to be anywhere south of 14th Street —the definition of downtown according to the city's official tourism marketing organization —or even 23rd Street . The full phrase Downtown Manhattan may also refer more specifically to

7360-552: The city's unwillingness to invest or modernise the port and the deindustrialization zoning policy. However a large number of small scale, dynamic, and highly specialized industries persisted despite the city's efforts such as the garment industry which was closely tied to the fashion industry in Midtown, or the printing industry; linked with the publishing industry. In the 1950s, a few new buildings were constructed in Lower Manhattan, including an 11-story building at 156 William Street in 1955. A 27-story office building at 20 Broad Street,

7475-402: The colonies. After the major defeat of the Continental Army in the Battle of Long Island , General George Washington withdrew to Manhattan Island , but with the subsequent defeat at the Battle of Fort Washington the island was effectively left to the British. The city became a haven for loyalist refugees, becoming a British stronghold for the entire war. Consequently, the area also became

7590-423: The cost of seat reached a then-record $ 185,000. The most expensive inflation-adjusted seat was sold in 1929 for $ 625,000, which, today, would be over six million dollars. In recent times, seats have sold for as high as $ 4 million in the late 1990s and as low as $ 1 million in 2001. In 2005, seat prices shot up to $ 3.25 million as the exchange entered into an agreement to merge with Archipelago and became

7705-408: The crowd that helps to bring buyers and sellers together. The auction process moved toward automation in 1995 through the use of wireless handheld computers (HHC). The system enabled traders to receive and execute orders electronically via wireless transmission. On September 25, 1995, NYSE member Michael Einersen, who designed and developed this system, executed 1000 shares of IBM through this HHC ending

7820-428: The current Congress of the United States , and its first sitting was at Federal Hall on Wall Street. The first United States Supreme Court sat there. The United States Bill of Rights was drafted and ratified there. George Washington was inaugurated at Federal Hall. New York City remained the capital of the U.S. until 1790, when the role was transferred to Philadelphia. New York grew as an economic center, first as

7935-447: The discussion of constructing seawalls and other coastal barriers around the shorelines of Manhattan and the New York City metropolitan region to minimize the risk of destructive consequences from another such event in the future. Lower Manhattan has been experiencing a baby boom , well above the overall birth rate in Manhattan, with the area south of Canal Street witnessing 1,086 births in 2010, 12% greater than 2009 and over twice

8050-592: The end of 2016, the highest levels since the end of 2001. This was largely due to growth and diversification in the local workforce with gains in employment sectors like Technology, Advertising, Media and Information, as well as Hotel, Restaurants, Retailing, and Health care. As of 2016, Lower Manhattan's business district is home to approximately 700 retail stores and 500 bars and restaurants. The Lower Manhattan Development Corporation has consummated plans to rebuild downtown Manhattan by adding new streets, buildings, and office space. The National September 11 Memorial at

8165-487: The first half of the 20th century, New York became a world center for industry, commerce, and communication . Interborough Rapid Transit , the first New York City Subway company, began operating in 1904. The area's demographics stabilized, labor unionization brought new protections and affluence to the working class, the city's government and infrastructure underwent a dramatic overhaul under Fiorello La Guardia , and his controversial parks commissioner, Robert Moses , ended

8280-475: The focal point for Washington's espionage and intelligence-gathering throughout the war. In 1771, Bear Market was established along the Hudson River shoreline on land donated by Trinity Church , and replaced by Washington Market in 1813. New York City was greatly damaged twice by fires of suspicious origin during British military rule. The city became the political and military center of operations for

8395-659: The formerly Dutch New Amsterdam and New Netherland renamed the settlement back to New York. As the colony grew and prospered, sentiment also grew for greater autonomy. In the context of the Glorious Revolution in England, Jacob Leisler led Leisler's Rebellion and effectively controlled the city and surrounding areas from 1689 to 1691, before being arrested and executed. By 1700, the Lenape population of New York had diminished to 200. By 1703, 42% of households in New York had slaves,

8510-421: The freewheeling iconoclasm, pioneering spirit, and do-it-yourself mentality that characterized the pre-gentrification era, still draw patrons from throughout the city and the surrounding region. In the early 21st century, the Meatpacking District , once the sparsely populated province of after-hours BDSM clubs and transgender prostitutes, gained a reputation as New York City's trendiest neighborhood. During

8625-511: The gong was switched to the bell format that is currently being used. The bell itself was produced by Bevin Brothers in East Hampton, Connecticut , which is known colloquially as "Bell Town" for its history of bell foundries and metal toy manufacturing. A common sight today is the highly publicized events in which a celebrity or executive from a corporation stands behind the NYSE podium and pushes

8740-468: The highest priced shares on the NYSE, hit $ 200,000 a share for the first time. On July 8, 2015, technical issues affected the stock exchange, halting trading at 11:32 am ET. The NYSE reassured stock traders that the outage was "not a result of a cyber breach", and the Department of Homeland Security confirmed that there was "no sign of malicious activity". Trading eventually resumed at 3:10 pm ET

8855-486: The holiday is observed on the closest weekday. In addition, the Stock Exchange closes early on the day before Independence Day, the day after Thanksgiving, and Christmas Eve. The NYSE averages about 253 trading days per year. The New York Stock Exchange (sometimes referred to as " The Big Board ") provides a means for buyers and sellers to trade shares of stock in companies registered for public trading. The NYSE

8970-466: The largest alternative newspaper in the United States, announced in 2017 that it would cease publication of its print edition and convert to a fully digital venture . On October 31, 2017, a man drove a pickup truck into the Hudson River Park 's bike path between Houston Street and Chambers Street , killing eight people and injuring at least 15. Most of those who were hit were bicyclists. It

9085-430: The markets with the most trading, or the greatest liquidity in today's parlance. Minimizing competition was essential to keep a large number of orders flowing, and the merger helped the NYSE maintain its reputation for providing superior liquidity." The Civil War greatly stimulated speculative securities trading in New York. By 1869, membership had to be capped, and has been sporadically increased since. The latter half of

9200-493: The members attempted to gain entry into the exchange. In the aftermath of the September 11 attacks , the NYSE was closed for four trading sessions, resuming on Monday, September 17, one of the rare times the NYSE was closed for more than one session and only the third time since March 1933. On the first day, the NYSE suffered a 7.1% drop in value (684 points); after a week, it dropped by 14% (1,370 points). An estimated $ 1.4 trillion

9315-530: The merger "would have led to a near-monopoly in European financial derivatives worldwide". Instead, Deutsche Börse and NYSE would have to sell either their Eurex derivatives or LIFFE shares in order to not create a monopoly. On February 2, 2012, NYSE Euronext and Deutsche Börse agreed to scrap the merger. In April 2011, Intercontinental Exchange (ICE), an American futures exchange , and NASDAQ OMX Group had together made an unsolicited proposal to buy NYSE Euronext for approximately US$ 11,000,000,000,

9430-499: The mid-1970s largely at two Lower Manhattan venues, CBGB on Bowery in the western edge of the East Village, and Max's Kansas City on Park Avenue South . At the same time, the area's surfeit of appropriated industrial lofts, played an integral role in the development and sustenance of the minimalist composition, free jazz , disco , and electronic dance music subcultures. The area's many nightclubs and bars, though mostly shorn of

9545-520: The new headquarters for his bank. He established the Downtown-Lower Manhattan Association (DLMA) which drew up plans for broader revitalization of Lower Manhattan, with the development of a world trade center at the heart of these plans. The original DLMA plans called for the "world trade center" to be built along the East River , between Old Slip and Fulton Street . After negotiations with New Jersey Governor Richard J. Hughes ,

9660-486: The nineteenth century saw rapid growth in securities trading. Securities trade in the latter nineteenth and early twentieth centuries was prone to panics and crashes. Government regulation of securities trading was eventually seen as necessary, with arguably the most dramatic changes occurring in the 1930s after a major stock market crash precipitated the Great Depression . The NYSE has also imposed additional rules in response to shareholder protection controls, e.g. in 2012,

9775-434: The number born in 2001. The Financial District alone has witnessed growth in its population to approximately 43,000 as of 2014, nearly double the 23,000 recorded at the 2000 Census. There are currently 61,000 residents in the Financial District of Lower Manhattan south of Chambers Street and more than 62 percent of the population is between 18 and 44. Lower Manhattan is home to more young professionals than Greenpoint ,

9890-569: The original Five Points neighborhood of Lower Manhattan, was born in the 1850s and continues to be the epicenter of culture for the Chinese diaspora . Lower Manhattan contains many more historical buildings and sites, including Castle Clinton , Bowling Green , the old United States Customs House (now the National Museum of the American Indian ), Federal Hall National Memorial commemorating

10005-613: The parent company of United Airlines , which broke down. When the UAL deal fell through, it helped trigger the collapse of the junk bond market causing the Dow to fall 190.58 points, or 6.91 percent. Similarly, there was a panic in the financial world during the year of 1997; the Asian Financial Crisis . Like the fall of many foreign markets, the Dow suffered a 7.18% drop in value (554.26 points) on October 27, 1997, in what later became known as

10120-482: The present location was adopted. The invention of the electrical telegraph consolidated markets and New York's market rose to dominance over Philadelphia after weathering some market panics better than other alternatives. The Open Board of Stock Brokers was established in 1864 as a competitor to the NYSE. With 354 members, the Open Board of Stock Brokers rivaled the NYSE in membership (which had 533) "because it used

10235-406: The refinery processed 2,500 barrels per day (400 m/d) of crude oil , compared to today's 108,000-barrel-per-day (17,200 m/d) processing capacity. In 1944, National Refining Company sold the refinery to Cooperative Refinery Association. The nickname COOP would remain for years afterward. In 1982, CRA merged with Farmland Industries . In 2000, Coffeyville Resources purchased the refinery and

10350-451: The remainder of the day. (The biggest one-day decline in the S&;P 500 since 1987 was the 11.98% drop on March 16, 2020 .) Until 2005, the right to directly trade shares on the exchange was conferred upon owners of a limited number of "seats". The term comes from the fact that up until the 1870s NYSE members sat in chairs to trade. In 1868, the number of seats was fixed at 533, and this number

10465-592: The same day. On May 25, 2018, Stacey Cunningham , the NYSE's chief operating officer, became the Big Board's 67th president, succeeding Thomas Farley. She is the first female leader in the exchange's 226-year history. In March 2020, the NYSE announced plans to temporarily move to all-electronic trading on March 23, 2020, due to the COVID-19 pandemic . Along with the PHLX and the BSE ,

10580-510: The second-biggest one-day drop the exchange had experienced. Black Monday was followed by Terrible Tuesday, a day in which the Exchange's systems did not perform well and some people had difficulty completing their trades. Subsequently, there was another major drop for the Dow on October 13, 1989—the Mini-Crash of 1989 . The crash was apparently caused by a reaction to a news story of a $ 6.75 billion leveraged buyout deal for UAL Corporation,

10695-404: The section "Notable bell-ringers"). The signal to start and stop trading was not always a bell; a gavel was the original signal, which is still utilized alongside the bell. However, the gavel is frequently damaged. During the late 1800s, the NYSE decided to switch the gavel for a gong to signal the day's beginning and end. After the NYSE changed to its present location at 18 Broad Street in 1903,

10810-628: The site was opened to the public on September 11, 2011, while the National September 11 Museum was officially inaugurated by President Barack Obama on May 15, 2014. As of the time of its opening in November 2014, the new One World Trade Center , formerly known as the Freedom Tower , is the tallest skyscraper in the Western Hemisphere and the sixth-tallest in the world , at 1,776 feet (541 m); while other skyscrapers are under construction at

10925-534: The site where George Washington was inaugurated as the first U.S. President, Fraunces Tavern , New York City Hall , the Museum of American Finance , the New York Stock Exchange Building , South Street Seaport , the Brooklyn Bridge , South Ferry (the embarkation point for the Staten Island Ferry ), and Trinity Church . Lower Manhattan is home to some of New York City's most spectacular skyscrapers, including

11040-735: The site. The Occupy Wall Street protests in Zuccotti Park , formerly known as Liberty Plaza Park, began in the Financial District on September 17, 2011, receiving global attention and spawning the Occupy movement against social and economic inequality worldwide. On October 29 and 30, 2012, Hurricane Sandy ravaged portions of Lower Manhattan with record-high storm surge from New York Harbor, severe flooding, and high winds, causing power outages for hundreds of thousands of Manhattanites and leading to gasoline shortages and disruption of mass transit systems. The storm and its effects have prompted

11155-482: The skyline of Lower Manhattan. The 9/11 Memorial & Museum at the former World Trade Center site has become a popular draw for visitors. New York City has been described as the gay capital of the world, and the epicenter of LGBT culture and its catalyst as a continuing cultural force in modern society has been the Stonewall Inn in Greenwich Village . Similarly, Chinatown , which was spawned just east of

11270-471: The trading floor below. Some traders booed, and some laughed and waved. Three months later the stock exchange enclosed the gallery with bulletproof glass. Hoffman wrote a decade later, "We didn't call the press; at that time we really had no notion of anything called a media event." On October 19, 1987, the Dow Jones Industrial Average (DJIA) dropped 508 points, a 22.6% loss in a single day,

11385-594: The turn of the 20th century. The original Penn Station opened in 1910, the Hudson and Manhattan Railroad (now PATH) extension to 33rd Street was completed in 1910, and Grand Central Terminal opened in 1913. On March 25, 1911, the Triangle Shirtwaist Factory fire in Greenwich Village took the lives of 146 garment workers, which would eventually lead to great advancements in the city's fire department, building codes, and workplace regulations. Throughout

11500-469: Was a 700-foot (210-m) extension into the river, running six blocks or 1,484 feet (452 m), covering 92 acres (37 ha), providing a 1.2-mile (1.9 km) riverfront esplanade and over 30 acres (12 ha) of parks. Through much of its history, the area south of Chambers Street was mainly a commercial district, with a small population of residents—in 1960, it was home to about 4,000. Construction of Battery Park City , on landfill from construction of

11615-637: Was also one of the primary bases of the American folk music revival of the 1960s. Many art galleries were located in SoHo between the 1970s and early 1990s; today, the downtown Manhattan gallery scene is centered in Chelsea. From the 1960s onward, Lower Manhattan has been home to many alternative theater companies, constituting the heart of the Off-Off-Broadway community. Punk rock and its musical derivatives emerged in

11730-433: Was built at The Battery to protect New Netherland . In approximately 1626, construction of Fort Amsterdam began. The Dutch West Indies Company subsequently imported African slaves to serve as laborers; they helped to build the wall that defended the town against English and native attacks. Early directors included Willem Verhulst and Peter Minuit . Willem Kieft became a director in 1638 but five years later

11845-456: Was closed shortly after the beginning of World War I (July 31, 1914), but it partially re-opened on November 28 of that year in order to help the war effort by trading bonds , and completely reopened for stock trading in mid-December. On September 16, 1920, the Wall Street bombing occurred outside the building, killing forty people and injuring hundreds more. The Black Thursday crash of

11960-496: Was converted to residential or hotel use. As a result, Lower Manhattan's residential population rose from 14,000 to 60,000. Since the early-20th century, Lower Manhattan has been an important center for the arts and leisure activities. Greenwich Village was a locus of bohemian culture from the first decade of the century through the 1980s. Several of the city's leading jazz clubs are still located in Greenwich Village, which

12075-527: Was delivered to the floor electronically. NYSE works with US regulators such as the SEC and CFTC to coordinate risk management measures in the electronic trading environment through the implementation of mechanisms like circuit breakers and liquidity replenishment points. Following the Black Monday market crash in 1987, NYSE imposed trading curbs to reduce market volatility and massive panic sell-offs. Following

12190-712: Was disassembled, refurbished, and its technology converted to be able to gasify petroleum coke instead of coal . It was then reassembled to form the heart of the nitrogen fertilizer operations. The plant is only one of two fertilizer plants in North America which does not rely on natural gas as a raw material. It first began production in late 2000. It operates using a petroleum coke gasification technology, formerly licensed by Texaco , as well as other technology, to produce approximately 369,300 short tons (335,000 t) of ammonia and 633,100 short tons (574,300 t) of Urea Ammonium Nitrate Solution (UAN) per year, and

12305-574: Was embroiled in Kieft's War against the Native Americans. The Pavonia Massacre , across the Hudson River in present-day Jersey City , New Jersey resulted in the death of 80 natives in February 1643. Following the massacre, Algonquian tribes joined forces and nearly defeated the Dutch. The Dutch Republic sent additional forces to the aid of Kieft, leading to the overwhelming defeat of the Native Americans and

12420-482: Was founded under charter by George II of Great Britain as King's College in Lower Manhattan. The Stamp Act and other British measures fomented dissent, particularly among the Sons of Liberty , who maintained a long-running skirmish with locally stationed British troops over Liberty Poles from 1766 to 1776. The Stamp Act Congress met in New York City in 1765 in the first organized resistance to British authority across

12535-413: Was increased several times over the years. In 1953, the number of seats was set permanently at 1,366. These seats were a sought-after commodity as they conferred the ability to directly trade stock on the NYSE, and seat holders were commonly referred to as members of the NYSE. Seat prices varied widely over the years, generally falling during recessions and rising during economic expansions. In January 1927

12650-596: Was led by former TOSCO senior executive Phil L. Rinaldi . The plant includes a nitrogen fertilizer plant adjacent to the refinery, owned and operated by Coffeyville Resources Nitrogen Fertilizers. Construction began on the nitrogen fertilizer facility in 1998. The initial build of the nitrogen fertilizer plant included shipping an existing gasification plant to Coffeyville from the West Coast. A Texaco coal gasification plant, originally located in Cool Water, California ,

12765-483: Was lost within five days of trading. The NYSE was only 5 blocks from Ground Zero . On May 6, 2010, the Dow Jones Industrial Average posted its largest intraday percentage drop since the crash on October 19, 1987, with a 998-point loss later being called the 2010 Flash Crash (as the drop occurred in minutes before rebounding). The SEC and CFTC published a report on the event, although it did not come to

12880-487: Was one of the fastest-growing locations in New York City between 2010 and 2020, related to the influx of young adults and significant development of new housing units. Despite various definitions of Lower Manhattan, they generally include all of Manhattan Island south of 14th Street . Anchored by Wall Street and the Financial District in Lower Manhattan, New York City is the leading global center for finance and fintech . The Financial District houses Wall Street,

12995-447: Was part of NYSE Euronext (NYX), which was formed by the NYSE's 2007 merger with Euronext . According to a Gallup poll conducted in 2022, approximately 58% of American adults reported having money invested in the stock market, either through individual stocks, mutual funds , or retirement accounts . The earliest recorded organization of securities trading in New York among brokers directly dealing with each other can be traced to

13110-470: Was the first deadly terrorist attack in Manhattan since 9/11. Since 2010, a Lower Manhattan community known as Little Australia has emerged and is growing in the Nolita neighborhood. Before the September 11 attacks , the Twin Towers were iconic of Lower Manhattan's global significance as a financial center . The new office towers built since the attack (including One World Trade Center ) have transformed

13225-457: Was usually the responsibility of the exchange's floor managers. Many of the people who ring the bell are business executives whose companies trade on the exchange, usually to announce new products, acquisitions, mergers or public offerings. However, there have also been many famous people from outside the world of business that have rung the bell, such as the Mayor of New York City Rudy Giuliani and

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