NYSE

          

 My day at the New York Stock Exchange was unforgettable! Tanya Sateika, who works as the programs coordinator for global affairs and government relations, greeted me. She explained that my visit request had come from Duncan Niederauer, CEO of the NYSE. I visited where parties occurred and where the managers would wine and dine their client in an elite restaurant on the 7^th floor. I was toured around where conferences are held; I visited three of the most important rooms, one of which had been used that morning for a meeting with the Italian ambassador. The main room had a conference table able to seat tens of people. This was the room where the original closing bell was rung. Down on the trading floor the atmosphere was actual quieter than I had imagined it to be. Tanya explained that six years ago the floor would have housed thousands of workers now only around 300 work here because over 90% of the transactions are done electronically.

To directly make trades in the NYSE, you have to be a member. But seats don't come cheap though. There are currently 1336 seats in the New York stock exchange and they cost about half a million each. The most expensive seat in the NYSE was sold in December 1st 2005 for the price of 4 million dollars. Anyone who isn't a member of the NYSE has to make trades trough a broker. I got to meet Jason Hardzewicz, he is the vice-president for equities working for Barclays bank. He kindly gave me a tuition session on what he’s role involves and how he manages the buyer and sellers. He job makes him a market maker as he decides at what price to sell the stocks at. Millions of trades are made everyday on the NYSE. The New York stock exchange is the largest in the world when it comes to market capitalization and the fourth largest in terms of listings right after the Bombay stock exchange and the London stock exchange.

          

  There was a lot of jargon and information given to me on that day, I realized that I have a lot to learn before this market become second nature to me, like that of Jason Hardzewicz where he is able to talk to me while controlling millions of dollars everything 100^th of a second, as that’s how quick the numbers are updated. I would love to go back to the NYSE one day in the future. I left with a few business cards at hand so I will certainly keep in contact for any future questions I would like to know.