NYX 360 — 15-19 November 2010

By: Ray Pellecchia
File Under: NYSE Euronext

NYX 360 aggregates news, views and just-plain-interesting stuff from within and without NYSE Euronext (NYX). We add items throughout the week, so you can check back for updates any time.

Thursday, 18 November 2010

Two words today: General. Motors.

E*Trade, NYSE Liffe US combine efforts to connect, educate individual investors (NYX)

Stanley Young on how financial firms can tap NYSE Technologies’ community cloud (Tabb Forum)

Booz Allen, Bitauto make IPO gains (WSJ; Washington Post)

Online retailer Dangdang files for IPO to raise $200 million (TMT China)

Buy and hold strategy: still a winner (Burton Malkiel/WSJ)

Scenes from a trading floor (AP/ABC, Reuters/IBT, AP/Yahoo!)

Wednesday, 17 November 2010

Booz Allen Hamilton Holding Corp. priced its IPO of at least 14 million shares at $17 each Tuesday (WSJ)

The official NYSE notices for the pending General Motors IPO (NYSE Trader Update)

Aeroflex Inc., which makes electronic components for wireless communications networks, plans to raise up to $268 million with an IPO Friday (ABC)

Larry Leibowitz on the evolving role of exchanges (FT Trading Room; video on right)

‘Movers and Changers’ kick off Global Entrepreneurship Week (NYX)

We’re a sponsor of the Intel Capital CEO Summit, where $77 million of investments in innovative companies were just announced (Intel)

Also sponsoring Commodities Week Asia 2011 next April — mark your calendar! (Conference site)

Can someone explain the benefits of high-frequency trading? Why yes! (FT Trading Room)

Why the Wall Street Journal used to live next to the NYSE (Urban Media Archeology)

Scenes from a trading floor (NYT, World Photos)

Try your hand at writing photo captions for the Economist (Economist)

Tuesday, 16 November 2010

Dominique Cerutti: “Opacity should be controlled and maintained where it has value, for example in block trades, but you cannot control and supervise what you do not see, and that is bad for the market and for investors.” (Financial News)

GETCO to be designated market maker for General Motors’ IPO (WSJ)

Youko, Chinese Internet TV company, files for IPO to list on NYSE (24/7 Wall Street)

REIT CEOs at NYSE: It’s good to be public (GlobeSt.com)

Pun patrol: cleverest Beatles-iTunes headlines/lead sentences:
Beatles finally for sale on Apple’s iTunes store (FT)
Apple: Get your Beates eight days a week via iTunes (NBC Bay Area)
The Beatles and Apple Inc. have finally come together (WSJ SpeakEasy)
Working it out, iTunes to sell Beatles titles (NYT)

Monday, 15 November, 2010

GM IPO: What’s in a ticker? Quite a lot, actually (WSJ)

Booz Allen Hamilton $250 million IPO also expected this week (MarketWatch)

KEMET Corp. back on NYSE (Global Print Monitor)

France Biotech, NYSE Euronext announce successful Life Sciences Day (NYX)

SEC forum to discuss capital formation for small businesses (SEC)

Scenes from a trading floor (Reuters via ABC)

Fragmentation an issue in Web apps, too (A VC)
Sounds a lot like the issues affecting our financial markets, yes?

On this day in 1867, the Gold and Stock Telegraph Company was granted permission to operate the first stock tickers between the NYSE and offices of members on an experimental basis. (NYX)
Fortunately, the experiment worked!

Comments

Ray,

You got it, 1867 was the year that E.A. Calahan, who was backed by William Muir, Elisha Andrews and a few other folks, patented the “ticker.” Calahan was an operator for American Telegraph Company. During the summer of 1867 the Gold Stock Telegraph Company was formed with less than $200,000. For $6 dollars a week prices would be transmitted from the floors of the NYSE and the Open Board to brokerage firms.

The first ticker that you mentioned, was installed in David Groesbeck’s office. Groesbeck’s office is where Daniel Drew carried out many a raid.

The Manhattan Quotation Service tried to compete with Gold and Stock, however, GS formed a relationship with Western Union which ran away with the business.

As a side note, there was a small army of “pad-shovers” that had the job of relaying quotes from the Exchange to brokerage firms. They found themselves out of a job after the “ticker” was invented. The shovers were replaced by runners who took orders to buy and sell from brokerage firms to the Exchange. William Heath, known as “The American Deer,” was one most well known shovers.

High-tech replaces humans, even back in 1867.

Regards,

Bart Ward

by Bart Ward on November 15, 2010 3:29 PM

Thanks Ray!!

@fleejack

GM IPO: What’s in a Ticker? Quite a Lot Actually. By Stephen Grocer http://on.wsj.com/ckDZAT

by Fields on November 15, 2010 11:17 PM

Thanks!! Ray!!

@fleejack
Intel Capital Invests $77 million in Innovative Companies Around the World http://bit.ly/bquzw9

by Fields on November 17, 2010 2:25 PM


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