The New York Stock Exchange (NYSE) has a long history of trail blazing women dating back to 1943, when more than three dozen women were deployed on the trading floor to fill positions vacated by soldiers sent overseas. This group was joined by many more that were employed by the NYSE and member firms until World War II ended.
In the decades since, there are many stories of women creating history in American finance.
The nature of our business has changed over the past several decades with the introduction of technology and electronic trading in early 2000s, and today the majority of trading activity occurs electronically. A trader now can operate with similar efficiencies and economies of scale using a single computer, compared to 20 traders when markets were open-outcry. This means the workforce operating from the NYSE trading floor has contracted significantly, though the work they do is still vital for the functioning of our markets.
Today, the NYSE trading floor remains a vibrant community that includes members of the media, operations and technology employees, as well as the market maker and floor brokerage firms.
Stacey Cunningham is named 67th President of the NYSE Group. Her appointment came after a 24-year career in finance, which began on the NYSE trading floor as an intern in 1994.
Mogavero, Lee & Co’s principal, Doreen Mogavero, became the first woman to be named to the NYSE Board of Executives to help restructure the exchange. Mogavero was one also of two members appointed to the Regulation, Enforcement, and Listing Standard Committee and also chaired the Market Performance Committee.
Catherine Kinney, named NYSE Co-COO and co-President, reporting to the NYSE CEO and Chairman.
Karen Nelson Hackett, head of floor operations for ING Baring Furman Selz LLC, became the first female floor governor, after 28 years on the NYSE trading floor.
Anne Allen was named senior vice president of NYSE floor operations in charge of overseeing the trading floor and implementing the Integrated Technology Program. The program led to the technical overhaul of the trading floor including the installation of wireless networks, use of handheld technology, and the first commercial use of flat screen technology.
Mogavero, Lee & Co. became the first member firm that was owned and operated by women.
Females accounted for 9 percent of all individuals working on the NYSE Trading Floor, approximately 450 women total.
Louise Jones, cofounder of Cassidy, Jones, & Co, becomes the youngest woman to own a seat on the NYSE, and one of 18 women to become a member of the Exchange that year.
Gail Pankey becomes first African American female member. 85 NYSE member seats held by women.
Evelyn Rodriguez became first Hispanic female member.
Amy W. Newkirk became the first woman to hold a specialist position.
Marsha O’Bannon, Assistant Vice-President of Planning Services, becomes the NYSE’s first female officer. Alice Jarcho became the second woman to be a Member.
Juanita Kreps became the first woman named to the NYSE Board of Directors.
The American Stock Exchange, now called NYSE American, admitted Julia Montgomery Walsh and Phyllis Peterson, making the Amex the first major exchange to allow women to join. The Amex continued to welcome women working throughout its history and had several working on the floor in the 1970s and 1980s.
Josephine Perfect Bay became the first woman to head an NYSE firm when she was named chairman and president of A. M. Kidder & Company.
Helen Hanzelin, a Merrill, Lynch, Pierce, Fenner, & Beane telephone clerk became the first woman to work on the NYSE Trading Floor. By the end of July that year, the exchange reassigned three dozen female employees from the 11 Wall office tower to the floor as quote clerks and pages to fill positions vacated by soldiers sent overseas. This initial group was joined by dozens of others that would be employed by the NYSE and member firms until World War II ended.