03-08-2006, 08:03 AM
Yes today is the day this symbol of american capitalism goes public (through a reverse merger with the electronic trading company Archipelago holdings) The NYSE until today was a 200 plus year old private company that was owned by seatholders. The importance of this is significant. As a publicly traded Co you will probably see more NYSE mergers with foreign exchanges (Frankfurt, London ?)with the possiblility of worldwide 24 hour trading. For those of you who invest I couldn't think of a better long term investment (especially if you can tuck some away in the kids account) than this. The mutual funds haven't really even started buying this yet. The company will do a secondary offereing of shares soon . Even after that that the Market cap will be about half that of the Chicago Merc (CME) even though the NYSE does 5 times the trading volume. The Chicago merc came public approx 3 years ago around $40 a share and is now selling at $420 a share. In fact for the last 40 years the NYSE has (on average) increased trading volume 15% a year. The symbol will be NYX. For the more agressive investors there are 2008 leaps you can buy. If you are an inexperienced investor talk to a financial rep before doing anything.