A long-standing symbol of American capitalism, the venerable New York Stock Exchange traces its history back almost 220 years. Now, facing a likely merger with German market operator Deutsche Börse, a pressing question has emerged: what will the new stock exchange be named?
As the deal was announced in February, U.S. Sen. Charles E. Schumer insisted that “New York” should come first in the new name. “NYSE is one of the most pre-eminent brands in the financial industry,” he said, “and there is no reason it shouldn’t come first.” But German politicians have patriotic concerns as well: although NYSE chief executive Duncan Niederauer is set to take the same title at the new company, Deutsche Börse will own 60 per cent. (The company will be headquartered in both Frankfurt and New York.)
An early front-runner for the new name, “DB NYSE Group,” is apparently out of contention. According to the Wall Street Journal, employees of both companies have submitted more than 1,000 suggestions, which will be looked at over the next few weeks by a committee of experts. Set to become the largest stock exchange in the world, it seems likely that—whatever the new company’s called—its name will eventually become an icon of sorts, too.