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NYSE Stock Exchange Description
NYSE Stock Exchange History
he New
York Stock Exchange traces its origins to a founding agreement in
1792. The NYSE registered as a national securities exchange with the
U.S. Securities and Exchange Commission on October 1, 1934. The Governing
Committee was the primary governing body until 1938, at which time The
Exchange hired its first paid president and created a thirty-three member
Board of Governors. The Board included Exchange members, non-member
partners from both New York and out-of-town firms, as well as public
representatives.
NYSE Stock Exchange Board of Directors
In 1971 The Exchange was incorporated as a not-for-profit corporation.
In 1972 the members
voted to replace the Board of Governors with a twenty-five member Board
of Directors, comprised of a Chairman and CEO, twelve representatives
of the public, and twelve representatives from the securities industry.
Subject to the approval of the
Board, the Chairman may appoint a President, who would serve as a director.
Additionally, at the Board's discretion, they may elect an Executive
Vice Chairman, who would also serve as a director.
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