Definition of Wall Street
What is Wall Street
Wall Street is the home of the New York Stock Exchange (NYSE). It was also the historic headquarters of some of the largest United States brokerages and investment banks, many of which having moved to other locations in New York City but still maintain a strong connection to Wall Street.
Where is Wall Street
In the heart of the Financial District, Wall Street is an 8-block long street that extends southeast from Broadway, in front of Trinity Church, to South Street and the East River. It is only a few streets away from the Federal Reserve Bank of New York.
The Buttonwood Agreement
In 1792, traders formalized their trading activities under the Buttonwood Agreement. The agreement was signed by 24 local stockbrokers on Wall Street and under a buttonwood tree where the traders and investors would meet to trade securities.
The Buttonwood Agreement, which established the rules and commission structure for trading, became the origin of the New York Stock Exchange.
Glossary of Terms and Phrases
A financial dictionary or glossary is an essential tool to better understand the meaning of a specialized term or phrase. It would obviously make life much easier if everyone spoke the same language and used the same financial terms and phrases but that is not realistic.
We learn new languages to communicate with each other, transact business globally and to appreciate other cultures. Global finance is a specialized language that if understood and mastered, it will provide benefits that help to decrease risk and improve investment returns. Financial literacy is the foundation of developing good investment strategies and sound decision making.