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Posted on 20 September 2012.
The first step in understanding the New York Stock Exchange is learning about stock exchanges. Many people grasp the basic concept of what a stock is. The significance of an exchange may be lost on them.
The New York Stock Exchange is essentially an arena in which buyers and sellers meet in order to trade their wares. In this case, the wares are different types of investments. You cannot buy or sell in this exchange, or any other, without registering and filling out the required forms.
The significance of becoming a member of the New York Stock Exchange is in enjoying the oversight that the exchange provides. Without the framework provided by the NYSE, traders would not have any assurances against fraud when they invest. There is no guarantee that your investment will do well when you make a purchase. However, the NYSE guarantees that your sales and purchases will be carried out according to an agreed-upon system.
The New York Stock Exchange opens on Mondays at 9:30 AM Eastern Time. It opens at the same time every day through Friday. It always closes at 4:00 PM. It remains closed during a variety of national holidays in the United States.
As long as the exchange is open, traders can buy and sell virtually any type of financial instrument. This includes securities, commodities, futures, options and more. It is no longer necessary to be physically present on the floor of the exchange anymore. Orders can be handled through the Internet. Though the times have changed significantly since the New York Stock Exchange opened in 1792, it remains open for business.
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