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Wall Street The Launch of The New York Stock Exchange

Witnify Admin — Tue, 17 May 2016 15:16:39 +0000

The Buttonwood Agreement took place on May 17, 1792, when 24 stockbrokers met outside of 68 Wall Street under a Buttonwood tree, launching what would become the New York Stock & Exchange Board now called the New York Stock Exchange. The organization later drafted its constitution on March 8, 1817, and named itself the “New York Stock & Exchange Board”. In 1863, this name was shortened to its modern form, the “New York Stock Exchange”.

In brief, the agreement had two provisions: 1) the brokers were to deal only with each other, thereby eliminating the auctioneers, and 2) the commissions were to be 0.25%. It reads as follows:

“

We the Subscribers, Brokers for the Purchase and Sale of the Public Stock, do hereby solemnly promise and pledge ourselves to each other, that we will not buy or sell from this day for any person whatsoever, any kind of Public Stock, at a less rate than one quarter percent Commission on the Specie value and that we will give preference to each other in our Negotiations. In Testimony whereof we have set our hands this 17th day of May at New York, 1792.

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The Launch of The New York Stock Exchange appeared first on Witnify.

Facebook Zuckerberg Admits His Biggest Mistake

Witnify — Thu, 15 May 2014 16:04:12 +0000

http://www.youtube.com/watch?v=xK-7HEvfJUI

Facebook founder Mark Zuckerberg explains in a 2012 interview at TechCrunch Disrupt how not focusing on mobile traffic hurt his company’s initial public offering (IPO) and describes the worst mistake the company has ever made.

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Zuckerberg Admits His Biggest Mistake appeared first on Witnify.

Wall Street Rep. Ellen Tauscher on the Past & Future of the NYSE

Witnify — Wed, 19 Mar 2014 19:59:56 +0000

http://www.youtube.com/watch?v=VpqOv1nMJdo

Ellen Tauscher remembers what it was like to be one of the first woman on the New York Stock Exchange. She also comments on the current state of the financial sector and shares her hopes for the future stability of the stock market.

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Rep. Ellen Tauscher on the Past & Future of the NYSE appeared first on Witnify.

Wall Street Muriel Siebert on Being the First Woman on Wall Street

Witnify — Wed, 19 Mar 2014 19:34:59 +0000

http://www.youtube.com/watch?v=Izx0NAD45gc

Muriel Siebert discusses the how she got her start on Wall Street in 1954 as an analyst and describes how buying her own seat on the stock exchange was the only way to stop making just 60 percent of what men were taking home.

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Muriel Siebert on Being the First Woman on Wall Street appeared first on Witnify.

Wall Street Jordan Belfort: The Real Wolf of Wall Street

Witnify — Tue, 25 Feb 2014 18:19:02 +0000

http://www.youtube.com/watch?v=730XH4WwYR0

Jordan Belfort, the real Wolf of Wall Street, discusses his reaction to the movie and explains how he lost his ethical way. Leonardo DiCaprio also shares his thoughts on Belfort as a public speaker. Belfort was the inspiration for DiCaprio's character in Martin Scorsese's Wolf of Wall Street.

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Jordan Belfort: The Real Wolf of Wall Street appeared first on Witnify.