NYSE Seat Is Sold for $1.5 Million
- Share via
The New York Stock Exchange said a seat giving its owner the right to trade stocks on its floor sold for $1.5 million, the same as a sale Dec. 18.
The transaction came a week after five of the NYSE’s biggest market makers, or specialists, reached a preliminary $240-million settlement with regulators over floor trading violations.
The value of an exchange seat fell by as much as 30%, to $1.3 million, after former Chairman Richard Grasso was forced to resign Sept. 17.
In 1999, an NYSE seat sold for as much as $2.7 million.
A total of 18 seats were sold last year, compared with six in all of 2002 and five in 2001.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
