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Politics : The Castle -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (2183)	10/15/2003 11:39:54 PM
From: tejek	Respond to of 7936

It isn't public. It isn't owned by the government. Its a not-for-profit corporation.......I believe that means its not owned by the gov't. ted <font color=blue>The New York Stock Exchange traces its origins to a founding agreement in 1792. The NYSE registered as a national securities exchange with the U.S. Securities and Exchange Commission on October 1, 1934. The Governing Committee was the primary governing body until 1938, at which time The Exchange hired its first paid president and created a thirty-three member Board of Governors. The Board included Exchange members, non-member partners from both New York and out-of-town firms, as well as public representatives. In 1971 The N.Y. Stock Exchange was incorporated as a not-for-profit corporation. In 1972 the members voted to replace the Board of Governors with a twenty-five member Board of Directors, comprised of a Chairman and CEO, twelve representatives of the public, and twelve representatives from the securities industry. Subject to the approval of the Board, the Chairman may appoint a President, who would serve as a director. Additionally, at the Board's discretion, they may elect an Executive Vice Chairman, who would also serve as a director. Currently, the NYSE Board of Directors is comprised of 27 members: 12 directors from the securities industry and 12 public directors, the Chairman and CEO, and the two Presidents, co-COOs and Executive Vice Chairmen.