After 50 years in business Hurco received an incredible honor recently with the opportunity to ring the closing bell for the Nasdaq on June 13th. Hurco is publicly traded, ticker symbol HURC, and has been since 1971. Their years of continued innovation and industry leading products have kept their stock trading high and investors happy. The company was extremely proud to be selected to be part of the closing bell ceremony for the Nasdaq. The video of the event can be seen at https://youtu.be/jZtdktiK-Wk.
Where did this tradition come from? The New York Stock Exchange (NYSE) has had a form of opening and closing bells since the very beginning back in the 1800’s. It started with the use of a gavel, but changed to a gong, and then ultimately to the current bell system in 1903. The current bell system consists of 4 different bells located in the main areas of the NYSE. All the bells ring simultaneously when a button is pushed. This button pushing is the opening and closing ceremony that is so highly celebrated. The bell opens the trading at 9:30 a.m. EST and closes it for the day at 4:00 p.m. EST.
The common, very public, event we see today for the opening and closing is a fairly recent development. Up until 1995 it was the job of the exchange floor manager to ring the bell. After that point the NYSE began having celebrities and other special guests take part in the ceremony. The Nasdaq opening and closing bells can only be rung by listed companies in conjunction with a Nasdaq senior executive. The exposure this event creates is great for the company involved and will often coincide with the launch of a new product or a major announcement from the company. Because the ceremony is aired on CNBC, Bloomberg TV, Fox Business News and many others it will reach a daily viewership of millions of people worldwide.
As you might imagine it’s not quite as simple as just showing up that afternoon and pushing the closing bell button. The entire event is coordinated by a professional event planner and is highly choreographed. Hurco was required to submit a guest list, of no more than 50 people, by noon the day prior to the ceremony. Guests must present ID and be escorted by security throughout their entire visit. Throughout the event, photography, videography, and catering are all provided services for guests. Hurco was also given an hour of advertising time on the Nasdaq Tower and Marquee to allow them to promote their company, its products/services, and any big announcements. The team from Brooks Associates was incredibly proud to get to be part of the Nasdaq experience and to be long-time partners with Hurco.