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Umm, did anyone read the article...its the NYSE Euronext exchange. NYSE bought Europe’s second-largest exchange in 2007, which they called NYSE Euronext, which they are now looking to sell part of. This is NOT the NYSE.
Reading comprehension.
Also, a sensational thread name doesnt help.
Reading comprehension? The NYSE EURONEX Is the NYSE. The NYSE merged with euronex in 2007
Quote:
Originally Posted by Gantz
Why? NYSE Euronext was already a American-Euro company to begin with. Its not like they are moving the exchange out of NYC or something. And its not the biggest financial institution.... its actually at the bottom of Fortune 500 that are NY based.
The NYSE is the most powerful stock market in the world by a big margin. Deutsche is "buying" the NYSE. If they get it they'll have 60% ownership of it
That should be a national security violation. How you going to let a foreign country own Americas biggest financial institution
"That should be a national security violation. How you going to let a foreign country own Americas biggest financial institution"
The same way we let Fiat (Italians) pick up Chrysler or the Saudis (alWaleed) buy into Citibank or Sony (Japanese) buy out Columbia pictures. It isn't a nat'l security issue I'd guess because there are tons of other marktes to trade stocks beside the NYSE, just like Citi isnt the only bank in the country and Chrysler isnt the only car company. And NYSE is FAR from the biggest fiancial institutions in the US. Its actually pretty small, with total revenues of about $5 billion in 2009. Hell, Citibank probably spends more than that every year on paper clips.
"That should be a national security violation. How you going to let a foreign country own Americas biggest financial institution"
The same way we let Fiat (Italians) pick up Chrysler or the Saudis (alWaleed) buy into Citibank or Sony (Japanese) buy out Columbia pictures. It isn't a nat'l security issue I'd guess because there are tons of other marktes to trade stocks beside the NYSE, just like Citi isnt the only bank in the country and Chrysler isnt the only car company. And NYSE is FAR from the biggest fiancial institutions in the US. Its actually pretty small, with total revenues of about $5 billion in 2009. Hell, Citibank probably spends more than that every year on paper clips.
lol how can you compare the NYSE to any of those things? The Nyse had a market cap of 13 trillion dec 2010. There are tons of markets to trade but thats beside the point. The NYSE is overwhelmingly bigger than any of them and its the biggest stock market in the world by a wide margin. How could it let itself be bought by a a much much smaller institution.
Wall ST, americas biggest finance sector, is dominated by the NYSE. If the germans buy that, its over
Foreigners buy a'lot of things in the USA. The New York Stock Market is crossing the line
The NYSE most defintiley did NOT EVER have a market cap of $13 trillion. I think you're mistaking the value of stocks traded daily or the value of all listed stocks or something else, with the market cap, which us just the price of one share of common stock of the NYSE itself, times however many otustanding shares there are.
But seriously, its just not that big a deal. The exchange may have great symbolic value as a center of U.S. capitalism, but ultimately it is a small operation. Its just a building on Broad St. thats becoming less and less important as more stocks trade electronically instead of on the exchange floor. (The exchanges are consolidating with each other and buying electronic trading outfits to make this transition.) The NYSE sale might sound alarming, but honely, its just not a big deal.
Stock brokerage just isnt the extremely lucrative business it once was, what with no fixed commissions for stocks anymore, spreads cut to the bone with stocks priced in pennies rather than eighths of a dollar, and trading that takes place all over the world and after hours too. Its basicallly a commodity business now, like natural gas or bananas--trading sevces are interchangeable, widely available, and thinly profitable.
Last edited by citylove101; 02-13-2011 at 11:36 AM..
The NYSE most defintiley did NOT EVER have a market cap of $13 trillion. I think you're mistaking the value of stocks traded daily or the value of all listed stocks or something else, with the market cap, which us just the price of one share of common stock of the NYSE itself, times however many otustanding shares there are.
But seriously, its just not that big a deal. The exchange may have great symbolic value as a center of U.S. capitalism, but ultimately it is a small operation. Its just a building on Broad St. thats becoming less and less important as more stocks trade electronically instead of on the exchange floor. (The exchanges are consolidating with each other and buying electronic trading outfits to make this transition.) The NYSE sale might sound alarming, but honely, its just not a big deal.
Stock brokerage just isnt the extremely lucrative business it once was, what with no fixed commissions for stocks anymore, spreads cut to the bone with stocks priced in pennies rather than eighths of a dollar, and trading that takes place all over the world and after hours too. Its basicallly a commodity business now, like natural gas or bananas--trading sevces are interchangeable, widely available, and thinly profitable.
According to wikipedia:
Quote:
The New York Stock Exchange (NYSE) is a stock exchange located at 11 Wall Street in lower Manhattan, New York City, USA. It is the world's largest stock exchange by market capitalization of its listed companies at US$13.39 trillion as of Dec 2010.[4] Average daily trading value was approximately US$153 billion in 2008
NYSE Euronext market capitalisation is only $10 billion, it is listed as #444 on the 2010 American Fortune 500 list, below the companies such as Black & Decker, Foot Locker, etc. It is too small to make global Fortune 500 list. The German exchange is actually a bigger company than NYSE Euronext.
But damn that 13 trillion has to count for something though
It doesn't count for anything. It cannot use that $13 trillion to invest in the US, create local jobs, buy supplies and services, pay taxes or lend money to businesses.
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