NYSE’s Rise to Pre-eminence

Sonali Garg ()

Chapter Chapter 4 in The Telegraph and Stock Exchanges, 2024, pp 15-25 from Palgrave Macmillan

Abstract: Abstract Data on the size of stock exchanges in 1910 and in 2022 and 2023 are presented. The NYSE is the pre-eminent stock exchange in the world today. It was the pre-eminent exchange in the United States in 1910; hence it must have risen to pre-eminence before 1910. The telegraph became a reliable means of communication by 1852; this helped bring the New York Stock Exchange, the Philadelphia Stock Exchange, and the Boston Stock Exchange into competition with each other. The New York Stock Exchange was more efficient than the other two, and it emerged as the winner of this competition. The New York Stock Exchange began its rise to pre-eminence in 1851–1852, and the process accelerated after 1852.

Keywords: Boston; Contemporary newspapers; Geographically closest exchange; New York; Philadelphia; Reading railroad; Regional exchanges; Regional markets; Reliable means of communication by 1852; Telescopes and flags (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palscp:978-3-031-40407-8_4

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DOI: 10.1007/978-3-031-40407-8_4

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