Njujorška berza
Tip | Berza vrednosnih papira |
---|---|
Lokacija | Njujork Siti, Njujork, U.S. |
Osnovana | 17. maj 1792.[1] |
Vlasnik | Intercontinental Exchange |
Ključni ljudi |
|
Valuta | Američki dolar |
No. listinga | 2.400[2] |
Tržišna kap. | US$26,2 biliona (2021)[3] |
Količina | US$20.161 biliona (2011) |
Indeksi | |
Vebsajt | nyse |
Njujorška berza (engl. New York Stock Exchange (NYSE))[4] je berza dionica koja se nalazi na Vol stritu u Njujorku. Najveća je svjetska berza po tržišnoj kapitalizaciji kompanija koje se nalaze na njoj,[5][6] a koja je u decembru 2010. iznosila 13,39 biliona dolara,[7] dok je u februaru 2018. bila na nivou od $30,1 biliona.[8] Prosječni dnevni promet na berzi je oko 153 milijarde dolara.
Njujorškom berzom upravlja kompanija NYSE Euronext, koja je formirana 2007. posle spajanja Njujorške berze sa elektronskom berzom Euronext.[9] Novo spajanje Njujorške berze sa kompanijom Deutsche Börse najavljeno je 15. februara 2011. U novom preduzeću, čije se ime još uvijek ne zna, kompanija Deutsche Börse će imati 60% vlasništva, dok će preostalih 40% pripasti kompaniji NYSE Euronext, koja trenutno upravlja berzom.
Istorija
[uredi | uredi izvor]Najranija zabeležena organizacija trgovine hartijama od vrednosti u Njujorku među brokerima koji direktno posluju jedni sa drugima može se pratiti do Batonvud sporazuma. Ranije su berzu hartija od vrednosti posredovali aukcionari, koji su takođe sprovodili uobičajenije aukcije roba kao što su pšenica i duvan.[10] Dana 17. maja 1792. godine, dvadeset četiri brokera potpisala su Batonvud sporazum, koji je odredio najnižu stopu provizije koja se naplaćuje klijentima i obavezala potpisnike da daju prednost ostalim potpisnicima u prodaji hartija od vrednosti. Najranije hartije od vrednosti kojima se trgovalo bile su uglavnom državne hartije od vrednosti kao što su ratne obveznice iz rata za nezavisnost i akcije Prve banke Sjedinjenih Država,[10] iako su akcije Banke Njujorka bile nevladine hartije od vrednosti kojima se trgovalo u ranim danima.[11] Banka Severne Amerike, zajedno sa Prvom bankom Sjedinjenih Država i Bankom Njujorka, bile su prve akcije kojima se trgovalo na Njujorškoj berzi.[12]
Godine 1817. berzanski mešetari iz Njujorka, koji su radili po Batonvudskom sporazumu, pokrenuli su nove reforme i reorganizovali se. Nakon slanja delegacije u Filadelfiju da posmatra organizaciju njihovog brokerskog odbora, usvojena su ograničenja za manipulativno trgovanje, kao i formalni organi uprave.[10] Nakon ponovnog formiranja u njujorški berzanski odbor, brokerska organizacija je počela da izdaje prostor isključivo za trgovinu hartijama od vrednosti, koja se ranije odvijala u Tontin Kofi Hausu. Nekoliko lokacija je korišćeno između 1817. i 1865. godine, kada je usvojena sadašnja lokacija.[10]
Pronalazak električnog telegrafa konsolidovao je tržišta i njujorško tržište je poraslo do dominacije nad Filadelfijom nakon što je prebrodilo neke tržišne panike bolje od drugih alternativa.[10] Otvoreni odbor berzanskih brokera osnovan je 1864. godine kao konkurent NYSE. Sa 354 člana, Otvoreni odbor berzanskih brokera bio je rival NYSE u članstvu (koji je imao 533) „zato što je koristio moderniji, kontinuirani sistem trgovanja superiorniji od NYSE-ovih dvaput dnevno pozivnih sesija“. Otvoreni odbor berzanskih brokera spojio se sa NYSE 1869. Robert Rajt iz Blumberga piše da je spajanje povećalo broj članova NYSE kao i obim trgovanja, pošto se „nekoliko desetina regionalnih berzi takođe takmičilo sa NYSE za kupce. Kupci, prodavci i svi dileri su želeli da završe transakcije što brže i jeftinije, što je tehnološki moguće, a to je značilo pronalaženje tržišta sa najtrgovanijim, odnosno najvećom likvidnošću u današnjem jeziku. Minimizovanje konkurencije je bilo od suštinskog značaja za održavanje velikog broja naloga, a spajanje je pomoglo NYSE da održi svoju reputaciju za pružanje superiorne likvidnosti.“[13] Građanski rat je u velikoj meri stimulisao spekulativnu trgovinu hartijama od vrednosti u Njujorku. Do 1869. članstvo je moralo biti ograničeno i od tada se sporadično povećavalo. U drugoj polovini devetnaestog veka došlo je do brzog rasta trgovine hartijama od vrednosti.[14]
Trgovina hartijama od vrednosti u kasnom devetnaestom i ranom dvadesetom veku bila je sklona panici i krahovima. Državna regulacija trgovine hartijama od vrednosti je na kraju viđena kao neophodna, sa verovatno najdramatičnijim promenama koje su se dogodile 1930-ih nakon što je veliki krah berze izazvao Veliku depresiju. NYSE je takođe nametnula dodatna pravila kao odgovor na kontrolu zaštite akcionara, npr. 2012. godine NYSE je nametnula pravila koja ograničavaju brokere da glasaju za akcije koje nisu upućene.[15]:2
Berzanski Lančeon klub je bio smešten na sedmom spratu od 1898. do zatvaranja 2006. godine.[16]
Dana 21. aprila 2005, NYSE je objavila svoje planove za spajanje sa Arhipelagom u dogovoru sa ciljem da se reorganizuje NYSE kao javno trgovačko društvo. Upravni odbor NYSE izglasao je spajanje sa rivalskim Arhipelagom 6. decembra 2005. i nastalo je profitno javno preduzeće. Ono je šočelo je da trguje pod imenom NYSE grupa 8. marta 2006. Dana 4. aprila 2007. NYSE grupa je završila svoje spajanje sa Evronekstom, evropskim kombinovanim tržištem akcija, formirajući tako NYSE Evronekst, prvu transatlantsku berzu.
Volstrit je vodeći američki monetarni centar za međunarodne finansijske aktivnosti i najvažnija američka lokacija za obavljanje veleprodajnih finansijskih usluga. „Sastoji se od matrice veleprodajnih finansijskih sektora, finansijskih tržišta, finansijskih institucija i firmi finansijske industrije“.[17] Glavni sektori su industrija hartija od vrednosti, komercijalno bankarstvo, upravljanje imovinom i osiguranje.
Pre akvizicije NYSE Evroneksta od strane ICE 2013. godine, Marš Karter je bio predsednik NYSE, a izvršni direktor je bio Dankan Niderauer. Trenutno, predsedavajući je Džefri Sprečer.[18] U 2016. godini, vlasnik NYSE Intercontinental Exchange Inc zaradio je 419 miliona dolara prihoda od listinga.[19]
Vidi još
[uredi | uredi izvor]Reference
[uredi | uredi izvor]- ^ „History of the New York Stock Exchange”. Library of Congress. Arhivirano iz originala 4. 4. 2016. g. Pristupljeno 28. 3. 2016.
- ^ „NYSE Q1 2016 Investor Presentation” (PDF). Arhivirano iz originala (PDF) 7. 10. 2016. g. Pristupljeno 1. 8. 2016.
- ^ „New York Stock Exchange (NYSE) | TradingHours.com”. www.tradinghours.com. Pristupljeno 13. 4. 2021.
- ^ „Merriam-Webster Dictionary's definition of "Big Board"”. Merriam-Webster. Arhivirano iz originala 20. 1. 2013. g. Pristupljeno 6. 11. 2012.
- ^ „The NYSE Makes Stock Exchanges Around The World Look Tiny”. Business Insider. Arhivirano iz originala 26. 1. 2017. g. Pristupljeno 26. 3. 2017.
- ^ „Is the New York Stock Exchange the Largest Stock Market in the World?”. Arhivirano iz originala 26. 1. 2017. g. Pristupljeno 26. 3. 2017.
- ^ World-exchanges.org
- ^ „2016”. Arhivirano iz originala 12. 2. 2019. g. Pristupljeno 6. 2. 2019.
- ^ Rothwell, Steve (19. 12. 2012), „For the New York Stock Exchange, a sell order”, San Jose Mercury News, Associated Press
- ^ a b v g d „National Register of Historic Places Inventory – Nomination Form, 11 Wall Street”. National Park Service. Pristupljeno 10. 8. 2014. OCRed document unreable
- ^ FCC. „Financial consulting company – New York Stock Exchange”. financial-consulting.pro (na jeziku: engleski). Arhivirano iz originala 11. 01. 2023. g. Pristupljeno 15. 6. 2017.
- ^ Pound, Richard W. (2005). Fitzhenry and Whiteside Book of Canadian Facts and Dates. Fitzhenry and Whiteside. str. 188.
- ^ E. Wright, Robert (8. 1. 2013). „The NYSE's Long History of Mergers and Rivalries”. Bloomberg. Arhivirano iz originala 11. 4. 2017. g. Pristupljeno 10. 4. 2017.
- ^ „NYSEData.com Factbook: Chronology of New York Stock Exchange (1792–1929)”. www.nyxdata.com. Arhivirano iz originala 13. 5. 2016. g. Pristupljeno 15. 6. 2017.
- ^ Hirst, Scott (1. 1. 2017). „Frozen Charters”. The Harvard Law School Program on Corporate Governance Discussion Paper. No. 2016-01.
- ^ Edmonston, Peter (28. 4. 2006). „Where Wall Street Meets to Eat, the Last Lunch”. The New York Times. Arhivirano iz originala 13. 4. 2012. g. Pristupljeno 29. 1. 2009.
- ^ Robert, 2002
- ^ „Intercontinental Exchange – Board of Directors”. Arhivirano iz originala 8. 7. 2015. g. Pristupljeno 20. 6. 2015.
- ^ Osipovich, Alexander (26. 10. 2017). „Startup Exchange Cleared to Take on NYSE, Nasdaq for Stock Listings”. Wall Street Journal. New York City, United States. Arhivirano iz originala 26. 10. 2017. g. Pristupljeno 26. 10. 2017.
Literatura
[uredi | uredi izvor]- Buck, James E. (1992). The New York Stock Exchange: The First 200 Years. Greenwich Pub. Group. ISBN 0-944641-02-4.
- Geisst, Charles R. (2004). Wall Street: A History – From its Beginnings to the Fall of Enron. Oxford University Press. ISBN 0-19-517060-1.
- Kent, Zachary (1990). The Story of the New York Stock Exchange. Scholastic Library Pub. ISBN 0-516-04748-5.
- Sloane, Leonard (1980). The Anatomy of the Floor. Doubleday. ISBN 0-385-12249-7.
- Sobel, Robert (1975). N.Y.S.E.: A History of the New York Stock Exchange, 1935–1975. Weybright and Talley. ISBN 0-679-40124-5.
- Axon, Gordon V. (1974). The Stock Market Crash of 1929. London: Mason & Lipscomb Publishers Inc.
- Bierman, Harold (2008). „The 1929 Stock Market Crash”. Ur.: Whaples, Robert. EH.Net Encyclopedia. Santa Clara, California: Economic History Association. Pristupljeno 2. 2. 2017.
- Brooks, John (1969). Once in Golconda: A True Drama of Wall Street 1920–1938. New York: Harper & Row. ISBN 0393013758
- Galbraith, John Kenneth. "1929: New York City." Lapham's Quarterly, no. 2 (Spring 2015): 145–146
- Klein, Maury (2001). Rainbow's End: The Crash of 1929. New York: Oxford University Press. ISBN 0195135164
- Klingaman, William K. (1989). 1929: The Year of the Great Crash. New York: Harper & Row. ISBN 0060160810
- Leone, Bruno (1994). The Great Depression: Opposing Viewpoints, 14–25. San Diego, California: Bender, David L.
- Pendergast, Tom ( 2003). American Decades: 1920–1929. Farmington Hills, Michigan: UXL American Decades Publishing
- Shachtman, Tom (1979). The Day America Crashed: A Narrative Account of the Great Stock Market Crash of October 24, 1929. New York: G.P. Putnam. ISBN 0399116133.
- Thomas, Gordon and Morgan-Witts, Max (1979). The Day the Bubble Burst: A Social History of the Wall Street Crash of 1929. Garden City, New York: Doubleday. ISBN 0385143702
- Watkins, Tom H. (1993). The Great Depression: America in the 1930s, 22–55. New York: Little, Brown & Company
- Bates, David S. (1991). „The Crash of ʼ87: Was It Expected? The Evidence from Options Markets”. The Journal of Finance. 46 (3): 1009—1044. doi:10.1111/j.1540-6261.1991.tb03775.x.
- Bernanke, Ben S. (1990). „Clearing and Settlement during the Crash”. The Review of Financial Studies. 3 (1): 133—151. S2CID 10499111. doi:10.1093/rfs/3.1.133.
- Bernhardt, Donald; Eckblad, Marshall (2013). „Black Monday: The Stock Market Crash of 1987”. Federal Reserve History.
- Bernstein, Peter L. (1996). Against the gods: the remarkable story of risk. New York: John Wiley & Sons. ISBN 9780471295631. OCLC 34411005.
- Bialik, Carl (1. 10. 2008). „The Day Stocks Rose but the Dow Plunged”. The Wall Street Journal.
- Black, Fischer (1988). „An equilibrium model of the crash”. NBER Macroeconomics Annual. 3: 269—275. doi:10.1086/654089 .
- „Black Monday 10th Anniversary 1987 Timeline”. The Motley Fool. 1997-10-19. Arhivirano iz originala 2007-03-06. g. Pristupljeno 2007-10-15.
- Blume, Marshall E.; Mackinlay, A. Craig; Terker, Bruce (septembar 1989). „Order Imbalances and Stock Price Movements on October 19 and 20, 1987”. The Journal of Finance. 44 (4): 827—848. JSTOR 2328612. doi:10.1111/j.1540-6261.1989.tb02626.x.
- Carlson, Mark A. (2007). A Brief History of the 1987 Stock Market Crash with a Discussion of the Federal Reserve Response (PDF) (Tehnički izveštaj). Finance and Economics Discussion Series. Federal Reserve Board. 13.
- Cecchetti, Stephen Giovanni; Disyatat, Piti (2009). Central bank tools and liquidity shortages (PDF) (Tehnički izveštaj). Federal Reserve Bank of New York.
- Cohen, Benjamin J. (2007). Global Monetary Governance. Abingdon, England: Routledge. ISBN 978-0203962589. OCLC 779908166.
- Cunningham, Lawrence A. (1994). „From random walks to chaotic crashes: The linear genealogy of the efficient capital market hypothesis”. The George Washington Law Review.
- Freris, Andrew F. (1992). The financial markets of Hong Kong. London: Routledge. ISBN 9780415020794. OCLC 970448360.
- Fuerbringer, Jonathan (1991-01-27). „World Markets; A Warning Flag Over New Zealand”. The New York Times.
- Gaffikin, Michael (2007). „Accounting research and theory: the age of neo-empiricism”. Australasian Accounting, Business and Finance Journal. 1 (1): 1–17. doi:10.14453/aabfj.v1i1.1.
- Garcia, Gillian (1989). „The lender of last resort in the wake of the crash”. The American Economic Review. 79 (2): 151—155.
- General Accounting Office, Financial Markets (januar 1988). Preliminary Observations on the October 1987 Crash (PDF) (Izveštaj).
- Glauber, Robert R. (1988). „After Black Monday: An Interview with Robert R. Glauber”. G.A.O Journal: A Quarterly Sponsored by the U.S. General Accounting Office. 2: 4—11.
- Goodhart, Charles (1988). „The international transmission of asset price volatility”. Financial Market Volatility: 79—120.
- Grant, David Malcolm (1997). Bulls, Bears and Elephants: A History of the New Zealand Stock Exchange. Victoria University Press. ISBN 0-86473-308-9.
- Greenspan, Alan (1987). „Statement by Chairman Greenspan on providing liquidity to the financial system”. Federal Reserve Bulletin.
- „Group of 7, Meet the Group of 33”. The New York Times. 26. 12. 1987.
- Gunningham, Neil (zima 1990). „Moving the Goalposts: Financial Market Regulation in Hong Kong and the Crash of October 1987”. Law and Social Inquiry. 15 (1): 1—48. doi:10.1111/j.1747-4469.1990.tb00274.x.
- Hale, David D. (17—19. 8. 1988). Commentary on 'Policies to Curb Stock Market Volatility' (PDF). Symposium on Financial Market Volatility. Federal Reserve Bank of Kansas City. str. 167—173. Arhivirano iz originala (PDF) 14. 2. 2021. g. Pristupljeno 1. 11. 2019.
- Harris, Lawrence (1988). „Dangers of Regulatory Overreaction to the October 1987 Crash”. Cornell Law Review. 74: 927—42.
- Headrick, Thomas E. (oktobar 1992). „Expert Policy Analysis and Bureaucratic Politics: Searching for the Causes of the 1987 Stock Market Crash”. Law & Policy. 14 (4): 313—336. doi:10.1111/j.1467-9930.1992.tb00088.x.
- Huang, Bwo-Nung; Yang, Chin-Wei; Hu, John Wei-Shan (2000). „Causality and cointegration of stock markets among the United States, Japan and the South China Growth Triangle”. International Review of Financial Analysis. 9 (3): 281—297. doi:10.1016/S1057-5219(00)00031-4..
- Hunt, Chris (2009). „Banking crises in New Zealand–an historical perspective” (PDF). Reserve Bank of New Zealand Bulletin. 72 (4): 26—41. Arhivirano iz originala (PDF) 18. 9. 2020. g. Pristupljeno 29. 10. 2019.
- Hull, John C. (2003). Options, Futures and Other Derivatives (5th izd.). Prentice Hall. ISBN 0-13-046592-5.
- King, Mervyn A.; Wadhwani, Sushil (1990). „Transmission of volatility between stock markets” (PDF). The Review of Financial Studies. 3 (1): 5—33. S2CID 154421440. doi:10.1093/rfs/3.1.5.
- Kohn, Donald L. (18. 5. 2006). The Evolving Nature of the Financial System: Financial Crises and the Role of the Central Bank (Govor). Conference on New Directions for Understanding Systemic Risk. Federal Reserve Board of Governors.
- Kleidon, Allan W.; Whaley, Robert E. (1992). „One Market? Stocks, Futures, and Options During October 1987”. The Journal of Finance. 47 (3, Papers and Proceedings of the Fifty-Second Annual Meeting of the American Finance Association, New Orleans, Louisiana January 3–5, 1992): 851—877. JSTOR 2328969. doi:10.1111/j.1540-6261.1992.tb03997.x.
- Leland, Hayne E. (1988). „Portfolio insurance and October 19th”. California Management Review. 30 (44): 80—89. JSTOR 41166528. S2CID 156790783. doi:10.2307/41166528.
- Leland, Hayne E. (14. 10. 1992). „portfolio insurance”. Ur.: Eatwell, John; Milgate, Murray; Newman, Peter. The New Palgrave Dictionary of Money and Finance: 3 Volume Set. Palgrave Macmillan. str. 154—56. ISBN 978-1-349-11721-5.
- Lindsey, Richard R.; Pecora, Anthony P. (1998). „Ten years after: Regulatory developments in the securities markets since the 1987 market break”. Ur.: Stoll, Hans R. Stock Market Policy Since the 1987 Crash (PDF). Springer Science+Business Media. str. 101–132.
- Lobb, Annelena (15. 10. 2007). „Looking Back at Black Monday:A Discussion With Richard Sylla”. The Wall Street Journal.
- Macey, Jonathan R.; Mitchell, Mark; Netter, Jeffry (1988). „Restrictions on Short Sales: An Analysis of the Uptick Rule and Its Role in View of the October 1987 Stock Market Crash”. Cornell Law Review. 74.
- MacKenzie, Donald (2004). „The big, bad wolf and the rational market: portfolio insurance, the 1987 crash and the performativity of economics”. Economy and Society. 33 (3): 303—334. S2CID 143644137. doi:10.1080/0308514042000225680.
- Malliaris, Anastasios G.; Urrutia, Jorge L. (1992). „The international crash of October 1987: causality tests”. Journal of Financial and Quantitative Analysis. 27 (3): 353—364. JSTOR 2331324. S2CID 56354928. doi:10.2307/2331324.
- Markham, Jerry W.; Stephanz, Rita McCloy (1988). „The Stock Market Crash of 1987--The United States Looks at New Recommendations”. The Georgetown Law Journal. 76: 1993–2043.
- Metz, Tim (1992). „The Crash”. Ur.: Fadiman, Mark. Rebuilding Wall Street: After the Crash of'87, Fifty Insiders Talk about Putting Wall Street Together Again. Prentice Hall Direct.
- Miller, M; Hawke, J; Malkiel, B; Scholes, M (1989). Final report of the Committee of Inquiry appointed by the Chicago Mercantile Exchange to examine the events surrounding October 1987. The Black Monday and the Futures of Financial Markets (Izveštaj).
- Mishkin, Frederic S. (17—19. 8. 1988). Commentary on 'Causes of Changing Financial Market Volatility' (PDF). Symposium on Financial Market Volatility. Federal Reserve Bank of Kansas City. str. 23—32. Arhivirano iz originala (PDF) 17. 7. 2020. g. Pristupljeno 19. 10. 2019.
- Mussa, Michael (1994). „Monetary Policy: Michael Mussa”. Ur.: Feldstein, Martin S. American economic policy in the 1980s. Chicago: University of Chicago Press. str. 81–159. ISBN 0226240932. OCLC 28506978.
- Reddell, Michael; Sleeman, Cath (2008). „Some perspectives on past recessions” (PDF). Reserve Bank of New Zealand Bulletin. 71 (2): 5—21. Arhivirano iz originala (PDF) 29. 1. 2018. g. Pristupljeno 19. 11. 2019.
- Roberts, Richard (8. 5. 2008). The City: A Guide to London's Global Financial Centre. Wiley. ISBN 978-1-86197-858-5.
- Roll, Richard (1988). „The international crash of October 1987”. Financial Analysts Journal. 44 (5): 19—35. doi:10.2469/faj.v44.n5.19.
- Schaede, Ulrike (1991). „Black Monday in New York, Blue Tuesday in Tokyo: The October 1987 Crash in Japan”. California Management Review. 33 (2): 39—57. JSTOR 41166649. S2CID 154808689. doi:10.2307/41166649.
- Seyhun, H. Nejat (1990). „Overreaction or fundamentals: Some lessons from insiders' response to the market crash of 1987”. The Journal of Finance. 45 (5): 1363—1388. doi:10.1111/j.1540-6261.1990.tb03719.x.
- Shiller, Robert J. (1987). Investor Behavior in the October 1987 Stock Market Crash: Survey Evidence (PDF) (Tehnički izveštaj). NBER Working Paper Series. National Bureau of Economic Research. 2446.
- Shieber, Jonathan (16. 3. 2020). „Stock markets halted for unprecedented third time due to coronavirus scare”. TechCrunch.
- Shiller, Robert J. (1988). „Portfolio insurance and other investor fashions as factors in the 1987 stock market crash”. NBER Macroeconomics Annual. 3: 287—297. doi:10.1086/654091 .
- Shleifer, Andrei; Summers, Lawrence H. (1990). „The noise trader approach to finance.”. Journal of Economic Perspectives. 4 (2): 19—33. doi:10.1257/jep.4.2.19.
- Sornette, Didier Sornette (2003). „Critical Market Crashes”. Physics Reports. 378 (1): 1—98. Bibcode:2003PhR...378....1S. S2CID 12847333. arXiv:cond-mat/0301543 . doi:10.1016/S0370-1573(02)00634-8.
- Stoll, Hans R. (1998). „Special Issue: Ten Years Since the Crash of 1987”. Ur.: Stoll, Hans R. Stock Market Policy Since the 1987 Crash: A Special Issue of the Journal of Financial Services Research. Boston, MA: Kluwer Academic Publishers. str. 1–4. ISBN 9780792381976. OCLC 39837347.
- Stoll, Hans R., ur. (1998). Stock Market Policy Since the 1987 Crash: A Special Issue of the Journal of Financial Services Research. Boston, MA: Kluwer Academic Publishers. ISBN 9780792381976. OCLC 39837347.
- Toporowski, Jan (1993). The economics of financial markets and the 1987 crash. Aldershot, England: Edward Elgar Publishing Company. ISBN 1852788976. OCLC 27895569.
- Brady, Nicholas F. (1988). Report of the presidential task force on market mechanisms. United States Presidential Task Force on Market Mechanisms (Tehnički izveštaj). United States Government Publishing Office.
- Blakey, George G. (28. 2. 2011). A History of the London Stock Market 1945–2009. Harriman House Limited. str. 295—. ISBN 978-0-85719-115-1.
- Bozzo, Albert (12. 10. 2007). „Players replay the crash”. CNBC.
- Browning, E.S. (15. 10. 2007). „Exorcising Ghosts of Octobers Past”. The Wall Street Journal.
- Furbush, Dean (2002). „Program Trading”. Ur.: David R. Henderson. Concise Encyclopedia of Economics (1st izd.). Library of Economics and Liberty. OCLC 317650570, 50016270, 163149563
- Greenspan, Alan (2008) [2007]. The Age of Turbulence: Adventures in a New World. Penguin Books. str. 104—110. ISBN 978-0143114161.
- Maley, Matt (16. 10. 2017). „The real reason for 1987 crash, as told by a Salomon Brothers veteran”. CNBC.
- Martin, Justin (2000). Greenspan: The Man Behind Money. Cambridge, MA: Perseus Publishing. str. 171–186. ISBN 978-0738202754.
- Sobel, Robert (1988). Panic on Wall Street: A Classic History of America's Financial Disasters – With a New Exploration of the Crash of 1987. E. P. Dutton. ISBN 9780525484042.ISBN 0-525-48404-3
- Woodward, Bob (2000). Maestro: Greenspan's Fed and the American Boom. Simon & Schuster. str. 36—49. ISBN 978-0743204125.
Spoljašnje veze
[uredi | uredi izvor]- Zvanični sajt (jezik: engleski)
- Presidents and Chairmen of the New York Stock Exchange (PDF)