1920 -
1939
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1920
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Centralized Clearing System Established
The Stock Clearing Corp. is established by the Exchange to develop a centralized system for delivering and clearing securities among members, banks and trust companies.
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1922
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New Office Space
The Exchange completes a 23-story office tower with additional trading space. The New Trading Room is referred to as “the Garage”, because it is next to the original structure.
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1923
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Fraud Bureau Established
The NYSE establishes a Fraud Bureau and works closely with the Better Business Bureau to eliminate gamblers who bet on the rise and fall of the stock market quotations, and other fraudulent security sales.
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Start of Historic Bull Market
An historic bull market causes stock prices to surge ahead, virtually without letup, for the next six years.
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1926
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Listing Rules Tighten
The Exchange tightens its listing rules to encourage companies to give equal voting rights to shareholders.
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1927
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Proxy Solicitation
The NYSE's regulations governing proxy solicitation are first established, and in subsequent years are strengthened and refined.
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1928
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Expanded Trading Room
An expanded trading room is opened to handle increased bond volume.
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1929
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Central Quote System
To meet volume growth, the Exchange builds large new trading posts and establishes a central quote system that provides instantaneous bid-ask prices by phone.
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Black Thursday
Stock prices fall sharply on October 24, Black Thursday, with record volume of nearly 13 million shares. Five days later, the market crashes on volume of over 16 million shares -- a level not to be surpassed for 39 years. In popular imagery, the crash has come to mark the beginning of the Great Depression
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Black Tuesday
On September 3, the Dow Jones Industrial Average reaches its 1929 peak of 381.17.
On October 29, "Black Tuesday," prices fall sharply and the stock market "crashes." This "crash" produces a record volume of nearly 16 million shares. The Dow Jones Industrial Average falls more than 11 percent.
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1930
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"Black Box" Ticker
The 500-character per minute black box ticker, nearly twice as fast as previous tickers, is introduced.
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1932
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Dow Hits Bottom
The Dow finally reaches bottom in July, down 89 percent from its 1929 peak.
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1933
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The Securities Act of 1933
Franklin Roosevelt is inaugurated as the 32nd President of the United States, promising a "New Deal." The Securities Act of 1933 mandates registering new issues and establishes federal disclosure requirements.
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NYSE Closes For Bank Holiday
March 04
The NYSE shut down its operations for FDR's 1933 bank holiday.
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1934
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SEC
The Securities Exchange Act of 1934 establishes the Securities and Exchange Commission (SEC). Its two basic purposes: to provide full disclosure to investors and to prohibit fraud in connection with the sale of securities.
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1938
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First President
William McChesney Martin, Jr., becomes the first full-time salaried president of the exchange.
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1939
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Public Gallery Opens
The NYSE opens its trading floor gallery to the public. The gallery is known today as the Interactive Education Center.
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