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One belongs to New York instantly, one belongs to it as much in five minutes as in five years.
– Thomas Wolfe (1900-1938), American short story writer and novelist.
New York has often been described as the center of world business, and if it be so, theres no questioning what is its throbbing heart – the New York Stock Exchange (NYSE). For some time now, no company can be said to have truly arrived until it was listed on the NYSE. Here then, is a short history of the NYSEs long and illustrious career as the barometer of the nations, indeed the worlds, financial health.
The history of the NYSE can be said to have begun in 1792, when twenty-four prominent brokers and merchants gather on Wall Street to sign the Buttonwood Agreement, agreeing to trade securities on a achievement basis. At that time, Bank of New York became the first company to be listed on the New York Stock & Exchange Board.
The first base of operations was at 40 Wall Street in a rented room, which was eventually destroyed in the Great Fire of New York in 1835. In 1863, the name New York Stock Exchange was adopted, and in 1865, it moved to 10-12 Broad Street. As trading multiplied over the next four decades, a larger building was required, and finally inaugurated on on April 22, 1903.
Over the next few decades, the Garage, the Blue Room, the Extended Blue Room and the Bond Room were added. As electronic trading gained popularity, the NYSE decided to close down many of the rooms that had been added by earlier expansions.
Currently, the NYSE is operated by NYSE Euronext, which was formed by the NYSE’s 2007 merger with the fully electronic stock exchange Euronext. This merger brought together major marketplaces across Europe and the United States with histories stretching back more than four centuries. The combination was by far the largest of its kind and the first to create a truly global marketplace.
Even as the NYSE developed into the marketplace of the world, it wasnt all smooth sailing. One of the first shocks occurred when President Abraham Lincoln was assassinated in 1865, leading to the exchange being closed for around a week. Then, in 1920, a bomb exploded outside the NYSE, killing 33 people and injuring more than 400. The scorch marks are still visible on the building.
October 24, 1929 marked the Black Thursday crash at the NYSE, leading to the the sell-off panic which started on Black Tuesday, October 29 and often considered the initiator of the Great Depression. On October 19, 1987, also known as Black Monday, the benchmark index (Dow Jones Industrial Average) dropped 508 points, a 22.6% loss in a single day.
There was also the Mini-Crash of 1989 on October 13, 1989 when a UAL deal went bust, causing the Dow to fall 190.58 points, or 6.91%. The Asian Financial Crisis led to a 7.18% drop in value (554.26 points) on October 27, 1997. There was a sudden 998 point drop on May 6, 2010 but the markets rebounded immediately.
In spite of these hiccups, the NYSE has progressed on its way as the predominant stock exchange in the world with the market capitalization of its listed companies at totaling $ 11.92 trillion as of Aug 2010.
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Currency trading is a very rich industry. It daily deals in millions and trillions of money. It is the largest market in the world. So what is exactly currency trading? The value of a currency keeps on changing. For example if you see the value of a dollar according to Indian currency, it may be rated at one dollar as forty rupees. Tomorrow the dollar value may decrease to forty five rupees. A currency trader will note down all the developments in the currency market and he will buy and sell large quantities of currency to gain profit. Currency trading India market is also known as foreign exchange market.
Basically currency fluctuates and accordingly you get profit or loss. There are primarily two reasons for currency fluctuations in Currency trading India market. When foreigners or outsiders want to buy something in India they want to convert their currency. Similarly, people going outside want to convert rupees into different currencies. The second reason why currency fluctuates is speculation. One important thing about speculation is that it can directly have a great impact on the Indian economy and other currency markets. Currency trading is done through brokers and people who work in the currency market.
You can gain by Currency derivatives India by hedging, speculating and arbitrage. There are many online websites which guide you through investment in Currency derivatives India. You can log in to these websites and understand all the detai.ls. If you are an amateur and want to learn how to trade in currency, then you can take the help of a broker or an online currency trading website which will help you gain necessary knowledge.
There are a lot of benefits of currency trading. You can gain a lot from trading if you do it properly and know the basics of the trade. Also, profit is done almost every day. This type of trading is accessible to all the traders, even small investors and retailers. Also if you want to take the help of a broker, you can gain it at a minimum brokerage rate charged as fees by brokers.
Sushil Finance provides excellent environment and services for equity trader whether he is an investor or a day trader. to know more visit here : www.sushilfinance.com
This lecture was delivered at Strathmore University School of Management and Commerce on 1st of March 2016
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Subject : Bussiness Economic
Paper : International finance
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Foreign Currency Market Hours
Most trading experts have realized that automated currency trading is able to provide greater opportunities for profitability than other futures markets around the world. Foreign currency exchanging that is done online is said to produce a number of benefits, which normal currency trading do not offer.
If you want to become a successful investor, you should be able to learn the fundamental concept of currency trading as well as trading online. The fundamental knowledge that you are able to obtain in trading is necessary in automated currency trading. Accordingly, you would be able to obtain fundamental knowledge in foreign currency exchanging through various tutorials, which provide huge amounts of information on how the forex market works. In addition, these tutorials present information with regard to technical indicators, which are advantageous for successful investing. More so, you would be able to learn about economic indicators as well as diverse trading strategies that are available in these trading tutorials. Foreign Currency Market Hours
Automated currency trading is the same as online forex trading. Like any other type of investment, you are expected to focus on proper risk management so that you would be able to handle the risks, which are specifically involved in currency exchanging.
Through automated trading, any investor would not need to pay any fee that concerns the trading activity. This is because an investor is trading via the foreign currency program online. This program presents a scheme, which runs 24 hours, 7 days a week. Consequently, an investor has the freedom to work anytime because trading hours are limitless. He or she also has the freedom to work anywhere as long as there is Internet access. In addition, a trader should realize that the foreign currency market or forex market is traded in currency pairs all the time. For instance, USD/EUR implies that US dollars for Euros are being traded. Foreign Currency Market Hours
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Currency Converter – Currency Exchange Rate Calculator
Calculate live currency and foreign exchange rates with this free currency converter. You can convert currencies and precious metals with this currency
How to Create a Simple Basic Currency Converter in PHP ?
Let’s assume, we want to create a simple Currency Converter in PHP and without using MySql. So yes smile emoticon it is possible, you just need a basic knowledge of PHP to create it by yourself. So in this tutorial I have created a basic program of Currency Converter with the help of PHP.
Created By : Muhammed Hussain Hingora | Web Soft Programs
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How to build your own currency conversion app in less than 75 lines of code.
Demo here https://apps.golightlyplus.com/currency-conversion/
Source code here: https://gist.github.com/magician11/3e26a4f6c4bcb5621538169c1a2c4df0
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