PLY Bell Speech
This Speech was made by Patrick L Young to assembled guests in the exalted company of NYSE President Lynn Martin, NYSE Vice Chairman John Tuttle, ICE SVP Trabue Bland and assorted experts, dignitaries and fellow market mavens from across the world in the historic BoardRoom of the New York Stock Exchange ahead of the market close on Friday, July 5th, 2024 where “PLY” rang the closing bell.
Ladies & Gentlemen,
T+9137 days later…
Thank you for being here to celebrate 25 years of Capital Market Revolution!
Thank you Team NYSE for making magnificent markets in the ICE Age!
I am humbled to follow in the footsteps of Ronald Reagan, Shinzo Abe, Warren Buffett & many other great people.
- Amazingly I get to be here before Caitlyn Clark too.
It feels like winning a Financial Oscar & I have about the same time to speak… At 180 seconds, this speech will settle faster than a Bitcoin blockchain.
3 minutes means 360 words for a normal human, 500+ for me as I have deployed my racecar commentator mode!
How to surmise a 70000 word book, revised to 80000 with added pith available as an e-book next week?
Let’s not get ahead of the narrative.
120 million people watch the NYSE bell daily.
Markets are better today for being at T+1 (76,400 seconds…) & CCPs reign supreme — as CMR! prophesied. It talked about digital assets before anybody cared — BUT no, I’m not claiming to be Satoshi Nakamoto despite that being a vogue amongst men of a certain age.
Most importantly, marketplaces in every form, are at the heart of the e-commerce model in a digital world.
Markets enable the Anywheres Everywhere to be Somebodies Somewhere in our wonderful world.
Market epitomizes human progress and enables ambition — core values that have made the USA great and indeed 61% of the world’s stock market capitalization.
In a moment we will go to the floor. Please focus not on me but admire the magnificence of this, the world’s most famous theater of commerce, as the trading week reaches a climax.
At four o’clock give me a wave — that would be lovely.
Podium guests: it was my deliberate intention to deliver a female majority today. From Muriel Siebert to Chairman Sharon Bowen & President Lynn Martin, NYSE has supported innovation & rightly championed talent Male OR Female.
We’re 140 seconds in. How to summarise the achievements of a quarter century of revolution?
You will today witness me ring a bell. By the time I hit the gavel three times, on average 13% of the US equity markets will have traded — about $25 billion of transactions…
That’s a mega number, like sizing the universe by planets being equivalent to peanuts in Jakarta and walnuts in Johannesburg, let’s break this down:
The world record for data transfer on mobile networks for one event was set at Wembley Stadium on June 22nd when Taylor Swift fans moved 5.57 terabytes of data during her Eras concert. That’s about the same data transfer as all US markets during the time we’re here at NYSE.
In the equivalent time I speak, the last 3 minutes of the trading day before the closing auction NYSE will handle 16 million messages. That’s 90,000 messages a second. No wonder men couldn’t multitask this from the floor — I speak 500 words, NYSE does 16 million messages!
Let’s keep building great markets to fuel the ambitions of the diligent & innovative.
In Bigworld it’s a big day for me and for Big data but there are — with 4 seconds to go — 6 more words to say:
Vive La Revolution!
God Bless America!
