The first guest invited to ring the bell to open trading at the New York Stock Exchange in 1956 wasn’t a company executive, a politician or a celebrity. It was a 10-year-old boy, Leonard Ross, who received the honor by winning a television quiz show.
Since then, business titans, political giants and global film stars have all been among those ringing the opening bell at the NYSE. Ronald Reagan rang the bell as president in 1985. Billionaire businessman and former New York City Mayor Michael Bloomberg and Hollywood star Robert Downey Jr. have also rung the bell. The list even includes famous Muppets: Miss Piggy was once a bell ringer.
President-elect Donald Trump joined that list Thursday when he opened trading at the famous stock exchange on Wall Street. He was accompanied by his wife, Melania, who interestingly enough received the honor before her husband. As first lady, she rang the bell in 2019 as part of her “Be Best” program.
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Bell-ringers are more commonly founders and executives chosen primarily from the exchange’s more than 2,300 listed companies. Over the last few months, the guests have included executives from Alaska Air Group, Bath & Body Works, and Ally Financial.
Stock trading around the location of the NYSE’s current home has deep roots that trace back to the Dutch founding of New Amsterdam and when Wall Street had an actual wall. The NYSE traces its direct roots to the “Buttonwood Agreement” signed in 1792, which set rules for stock trading and commissions.
The NYSE moved into its first permanent home in 1865. The first bell in use was actually a gong. The exchange moved into its current iconic building in 1903 and started using an electronically operated brass bell. That has evolved into synchronized bells in each of the NYSE’s four trading areas.
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