The New York Stock Exchange (NYSE)
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.
NYSE Stock
Exchange Board of Directors
In 1971 The 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.
