According to official website, NYSE, speaking of NYSE, a familiar picture is ringing a bell, which means trading starts at 9:30 am and ends at 4:00 pm every working day. Ringing the bell is not only an interesting practice, but also plays a vital role in the orderly operation of the market and ensuring that there will be no transactions before ringing the bell in the morning and after ringing the bell in the afternoon.
The origin of NYSE can be traced back to the renaming of 1792 and 1863. It rang the bell of 1870s for the first time. Accurately speaking, at that time, it was not called ringing the bell, but gong-yes, you were right. At first, it was a gong made in China.
1903, NYSE moved from a room rented for 200 dollars a month at No.40 Wall Street to the building at No.40 Wall Street 1 1 (also its current address). When the China gong rang, it was replaced by a bronze bell, and it was an electric bell that could be heard in every corner of the whole stock exchange building. Today, the four trading areas of NYSE have their own clocks, which are synchronously controlled by a unified console.
If you knock too much, the clock will break. 1980s, that is, after 70 or 80 years of use, the clock of new york Stock Exchange finally "failed". That is, this accident made NYSE managers feel how important it is to ring the bell every day, and decided to buy a new clock as an emergency backup while repairing the old clock.
There are also some twists and turns in buying a new clock. They must first find the manufacturer of this clock. After all, they haven't dealt with each other for 80 years. After a "human flesh search", they finally found the G.S. Edwards company that made clocks and watches in Novak, Connecticut, USA. When they proposed to make a new clock with a diameter of 18 inch (about 46 cm), people in Edwards company were surprised, because at that time, all clock companies, including them, stopped making clocks with the size of the old clock and could make such a big noise.
Nevertheless, Edwards agreed to make clocks according to the requirements of the new york Stock Exchange. To this end, the company specially invited retired employees to come back to complete this "arduous task." After acoustic ranging and tone adjustment, the new clock can finally be compared with the old clock being used in new york Stock Exchange.
After the accident of the NYSE clock, there is a story of "a blessing in disguise"-the clock that was forgotten in the corner was found. A contractor in charge of the power system of NYSE suddenly remembered that he had seen a clock in the trunking on the ceiling of the main trading room of NYSE after hearing that NYSE was going to buy a new clock. This is a very beautiful clock with a diameter of 68.5 cm. When it was discovered again, it was covered with thick dust-it was forgotten for at least half a century. When it is useless, it is too loud to stand, so it is shelved. Now, although it changes color, it still hangs on the platform of the trading hall, waiting at any time and sticking to its inherent mission.
The manual bell ringing of NYSE probably originated from 1865. New york Stock Exchange is located at Broad Street 10- 12, new york. At that time, the president knocked on the second floor twice a day with a mallet to show the opening and closing of the market. This kind of mallet is a bit like an auctioneer's mallet, usually made of oak, and the age of the tree can be judged by its cross section. The hammer of this size and shape appeared in the picture of 1928' s American film National Fair.
The first person to ring the real bell of NYSE opening is Leonard Ross, a boy of 10 years old. He got a chance to ring the bell, because he successfully answered questions about the securities market in the TV quiz show "Big Surprise". In addition to ringing the bell, he also won a prize of $654.38 million.
Today, we often hear and see a large wave of corporate executives and celebrities from all walks of life ringing the bell (or pressing the button to ring the bell) or witnessing the ringing of the bell when the company is listed on the new york Stock Exchange. What does this mean?
A common explanation is that many people think that ringing the bell when going public is a symbol of great achievements and glory in life. It is said that no matter the most powerful or cruel enterprise executives, they will be excited and have thousands of thoughts when they ring the bell. "The bell is ringing so hard, in other words, it is very real." It's right to think about it. If you don't ring the bell, you can only see the digital changes of the stock price after the company goes public. Where can executives vent their excitement?
It should be pointed out that there was no such high-profile publicity for ringing the bell from the beginning. From 65438 to 0995, NYSE began to invite special guests to ring the bell regularly, which became more and more attractive. In the past, ringing the bell was the responsibility of the exchange manager.
Official website of NYSE explained it this way: "The ringing ceremony of the opening and closing ceremonies provided a unique platform for your company and its development milestones to be fully reported. The bell you ring will not only appear on the official website of NYSE, but also on TV programs such as American Consumer News and Business Channel, Bloomberg TV and Fox TV Business News Channel, which will be seen by countless people all over the world. The way of business and the attention of the media are unparalleled. "
To put it simply, NYSE lets some executives of listed companies ring the bell, which is essentially "letting the god of wealth indulge, letting the god of wealth vent and intoxicated".
(Author: Deng Jing)