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Economy

Economic Data (USA)

Wednesday, January 04, 2006

The New York Stock Exchange® Auctions Trading Licenses

1,274 trading licenses have been auctioned off by The New York Stock Exchange®. The price for each license was $49,290, which gives the buyer trading rights @ The Exchange for one year. The new system of trading licenses replaces the old system where individuals or companies had to be exchange members and have a "seat" on the exchange in order to trade.

There are 92 trading licenses left, and The Exchange plans on selling these remaining licenses during 2006 at a pro-rated annual rate of $54,219.


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