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NYSE President Tom Farley weighed in Safe Havens from Global Uncertainty

NYSE President Tom Farley weighed in Safe Havens from Global Uncertainty

June 22, 2021 16:16
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The floors are used for the purposes of trading and after several acquisitions and mergers, NYSE now stands under the aegis of Intercontinental Exchange which is an American holding company. Now, parent company of this exchange is Euronext. NYSE relied on floor trading for a very long time and has only recently gone for the electronic system where the stock tickers come in picture. The ticker tape never rests, but the floor trading method is still used for setting the price.

The NYSE is known to be the largest exchange company in the world because of its listed companies which include some of the big companies in the recent years. Moreover, NYSE has also listed some of the top international companies under its name.

After Britain voted to exit the European Union in a historic referendum on June 24th, the entire world went in a frenzy and the one place where impact was higher than the remaining areas were the stock markets. With Sterling hitting an all time low, there was a big question mark looming on the world economy, especially the US dollar.

Fast forward a couple of days later, and things returned to normal for almost every stock market, including the New York Stock Exchange as everything returned to pre-Brexit times. The LED tickers of the NYSE might have went haywire and tensions and angst were heavy on the floors of the NYSE after the morning of Brexit. But, within a couple of hours, people took a deep breath as the trades and numbers of the exchange were smooth and less volatile compared to the other exchanges around the world.

 NYSE’s president Tom Farley was asked whether we might be facing yet another global recession due to the Brexit vote and he was optimistic in his answer as he feels that the growth in the market of the European Union was not extraordinary in the last decade. Moreover, if both UK and the European Union go about invoking the Lisbon Treaty and part their ways amicably, then there is no cause of contention. If the negotiations are fair and dealt with in a mature way, then they could come at agreements for trade within the countries and not much would change and this would lead to a stable economy all over the world.

Farley also said that when the entire world is facing a global uncertainty, the NYSE is considered a safe haven as the global IPOs of the exchange improve. Companies from Japan like Line, which are big companies, are going to go global by enlisting with NYSE on July 14th. There is no reason for the NYSE to be afraid from the uncertainty which is obvious across all parts of the world.

Another point which has become a growth factor for the NYSE is the data service. In this time of turbulence, people tend to get confused and start withdrawing their investments. To avoid this, NYSE is finding new and better ways to deliver data to its customer in a way in which they can wrap their heads around it and make more informed decisions.

Rest assured, NYSE is definitely safe from the global uncertainty and the obvious reason for this is the increase in its IPOs.


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