An offline N.Y.S.E. barely made a ripple in a day’s trading a few weeks ago.
Moreover, industry research indicates that confidence in the US Equity Market Structure is at a 5-year high, with 64% of the respondents having “High/Very High” confidence and 18% responding “Neutral.”
In years past, a shutdown like that might have stopped Wall Street dead in its tracks, with a broad range of companies’ shares sitting frozen until all technical problems were unwound.
But as the lengthy stoppage showed, the modern world of stock trading is much quicker, more complex and reliant on sophisticated computers — and in many cases able to adapt to issues that could have proved disastrous to the financial markets and the investors’ holdings.
Below are industry and Tape A market share metrics for Self-Regulatory Organizations (SROs) for the first six months of 2015. NYSE accounts for 23.2% of NYSE-listed stocks and 12.3% of overall equity volume.
I did get some gifts. It's funny how much they say a lot about you.
They got me an Amazon Echo. It is an interesting gift because it's next level technology (but probably not fully-baked yet). The good thing is the Echo's hardware component is already well-made. It has a high-quality speaker with many microphones to pick up voice commands. You use it to ask questions, listen to music, add things to your shopping list, and interact with the Internet without a computer. Cool now … and bound to get better.
And I also got a little device, called 'Tile,' that helps find lost keys, wallets, or other things people notice you're prone to lose. My son says umbrellas. Hard for me to argue; because I have four of them ... and if I could find them when I needed them, I'd only have one.
Nonetheless, I can't believe how time flies. Birthdays seem to come more quickly. It makes sense, though. When you were four, a birthday represented a quarter of your life. Now, a year represents a much smaller percentage.
Reminder: while aging may suck. It sure beats the alternative.
Stratfor posits: Beijing has an underlying interest in ensuring that China's stock markets do not collapse, even though any intervention risks exacerbating whatever financial and political fallout may come from an eventual market decline or crash. Therefore, the government will likely continue to intervene to the best of its ability, propping up markets and market sentiment whenever the risk of a major sell-off becomes too great.
This does not mean that stock prices won't slide further, or that the market will stabilize — indeed, it could well become even more volatile over the coming months. Until Beijing invents more avenues for investment, or unless it embraces interest rate hikes and any post-crisis restructuring, it will have to rely on the few tools available to ensure that citizens can generate the wealth and financial security they need to consume.