Published on December 3, 2014 | by LawNews
Business Law Society Tours New York Stock Exchange
Recently, the Hofstra Business Law Society was given a tour of the New York Stock Exchange (NYSE) by Gregg Krowitz, vice president of global listings. The group viewed all aspects of the exchange, from the trading floor to its archives.
Krowitz gave the group an overview of the history of the NYSE and explained its business model, including how it makes money and its current competitive environment. The group then toured the trading floor, including the CNBC desk, and watched the opening bell.
Students also spent time at a trading post speaking with trading “specialists” to understand how the capital market model works, how complex algorithms are used to analyze multiple markets and execute orders based on market conditions, high-frequency trading issues, and the importance of regulatory compliance in the industry.
“The trip re-energized many of the students, including myself, by giving us a reminder of what we are working towards when we sit in classes all day,” said Amanda Ward 2L, the president of the Business Law Society. “It was an invaluable experience that not only allowed students to gain knowledge but provoked passion for the industry we are working towards entering.”
In the NYSE’s archives, students viewed the original 200-year-old document establishing the exchange and toured the architecturally historic board room, which has a Tiffany-glass ceiling and the original stock exchange clock from 1876, which still works.
Summing up the significance of the experience, Ward said: “Many students, including myself, regard it as a once-in-a-lifetime opportunity — an opportunity that Hofstra Law was able to help provide.”