NYSE

Daniel Beunza has spent 13 years living among the increasingly rare New York Stock Exchange floor traders. He has studied their habits, ingratiating himself with them and gaining their trust, venturing out to such exotic and potentially dangerous areas as Long Island, to dine with them in their natural habitat, suburban surfing-themed restaurants. He has learned—to the best of an outsiders’ ability—their strange physical and verbal languages—set down for posterity in a glossary—and the structure of their fragile, tribal communities. And he warns that their extinction will not only extinguish a culture and seriously cut into the margins of goombah dive bars in Lower Manhattan, but will also put us all at risk. Read more »

  • 03 Sep 2014 at 4:27 PM

Spruced-Up NYSE Getting Exactly What It Didn’t Need

The Big Board is sprucing up its garage, getting rid of that damned eyesore it hangs monitors off of and consolidating its coffee-delivery system, all in the name of winning back some of the 60% in market share it’s lost over the last 10 years. Unfortunately, it’s also getting some more of the last thing in the world it needs: Competition. And from Michael Lewis’ favorite stock-trading arena. Read more »


A floor trader shows some 2014 Sports Illustrated Swimsuit models the ropes. [Reuters]

  • 26 Nov 2013 at 2:42 PM

Guy Related To Famous Guy Leaving NYSE

The New York Stock Exchange is losing another top executive: Larry Leibowitz, the guy known around Wall Street as the chief operating officer of stock exchange parent NYSE Euronext, and just about everywhere else as the brother of “Daily Show” host Jon Stewart. NYSE Euronext was bought this month by an upstart rival from Atlanta, IntercontinentalExchange Group Inc., and Leibowitz will leave the combined company at the end of the year, an NYSE spokesman confirmed on Tuesday. Patrick Healy, CEO of the Issuer Advisory Group, is a fan. He called Leibowitz “the adult in the room” who “did right” by the issuing companies, and he bemoaned the “significant long-term consequences” of Leibowitz’s departure. [MarketWatch]

  • 18 Nov 2013 at 5:05 PM

NYSE, Nasdaq Usher In New Era Of Good Feelings

The two have a plan to keep the information flowing except in the perhaps not-as-unlikely-as-we’d-like event that both of them screw up simultaneously. Read more »

A future subsidiary of the IntercontinentalExchange is getting pretty confident about not having to pony up $40 million-plus for fucking up a certain highly-anticipated market event. Read more »

Sure, he guesses it might be nice to own Euronext. And sure, maybe he’s got a few extra ducats to play with. But he’s not stressing about it, which is good, because the soon-to-be-former New York Stock Exchange isn’t exactly eager to sell its European bourses to its chief rival. He’d just like to point out that, yeah, the Nasdaq would probably do a pretty good job with the thing. Read more »