Systems are handling record volume more efficiently than during Covid crash
The New York Stock Exchange: A Beacon of Stability in Turbulent Times
As the President of the New York Stock Exchange (NYSE), I have witnessed firsthand the recent volatility in global financial markets. In times like these, the words of Henry Ford ring true: “The only real security that a man can have in this world is a reserve of knowledge, experience, and ability.”
Established 233 years ago, the NYSE remains the beating heart of the global financial system. Our trading floor has been front and center in newspapers and on television screens around the world. Despite the challenges posed by market turmoil, the infrastructure and operational practices of our markets have proven to be resilient and reliable.
The history of the NYSE dates back to 1792 when a group of stockbrokers met under a buttonwood tree. From those humble beginnings, the NYSE has evolved into a modern marketplace that combines human judgment with cutting-edge technology.
During the recent market volatility, our designated market makers have played a crucial role in maintaining order and stability. By taking manual control of opening and closing auctions at an increased rate, they have helped mitigate extreme market swings. The efficiency of our trading systems has also been evident, with trades settling and clearing more quickly than ever before.
In the face of record-breaking trading volumes and massive swings in major indices, U.S. exchanges have demonstrated their ability to handle high levels of activity with speed and accuracy. The NYSE has set records for trade volume multiple times in recent days, processing over 1 trillion incoming orders in a single day with remarkable efficiency.
Amidst uncertainty, the U.S. markets have provided investors with a platform to make informed decisions and execute trades swiftly. This level of reliability and resilience is a result of the constant investments in technology and innovation that have been made over the years.
As we navigate through these turbulent times, the NYSE remains committed to upholding the integrity of the U.S. market infrastructure. Our goal is to ensure that the financial industry’s collective efforts maintain the U.S.’s position as the largest and most robust financial market in the world.
In conclusion, the words of Henry Ford remind us of the importance of knowledge, experience, and ability in navigating the complexities of the financial markets. The NYSE stands as a symbol of stability and strength in times of uncertainty, ready to weather any storm that may come our way.
