nyse trading floor visit

Visiting the New York Stock Exchange

You can't go in but the Financial District is worth a look

Sebastian Bergmann/CC BY-SA 2.0/Flickr

The New York Stock Exchange is the largest stock exchange in the world, and billions of dollars worth of stocks are traded there every day. The Financial District that surrounds it is central to the importance of New York City. But because of tightened security measures after the terrorist attacks of September 11, 2001, which occurred mere blocks away from the New York Stock Exchange  (NYSE), the building is no longer open to the public for tours. 

The History 

New York City has been home to securities markets since 1790 when Alexander Hamilton issued bonds to deal with debt from the American Revolution. The New York Stock Exchange, which was originally called The New York Stock and Exchange Board, was first organized on March 8, 1817. In 1865, the exchange opened in its current location in Manhattan's Financial District . In 2012, the New York Stock Exchange was acquired by InterContinental Exchange.

The Building

You can view the New York Stock Exchange building from the outside at Broad and Wall streets. Its famous facade of six marble Corinthian columns below a pediment sculpture called "Integrity Protecting the Works of Man" is often draped with a huge American flag. You can get there by subway trains 2, 3, 4, or 5 to Wall Street or the R or W to Rector Street.

If you want to learn more about the financial institutions in New York, you can visit the Federal Reserve Bank of New York , which offers free tours to visit the vaults and see the gold with advance booking. It is also in the Financial District and offera insight into the inner workings of Wall Street.  

The Trading Floor

Although you can no longer visit the trading floor, do not get too disappointed. It is no longer the chaotic scene that's dramatized on TV shows and movies, with traders waving slips of paper, yelling stock prices, and negotiating million-dollar deals in a matter of seconds. Back in the 1980s, there were up to 5,500 people working on the trading floor. But with the advance of technology and paperless transactions, the number of traders on the floor has dwindled to about 700 people, and it is now a much calmer, quieter environment if still loaded with daily tension.

The Ringing of the Bell

The ringing of the opening and closing bell of the market at 9:30 a.m. and 4 p.m. guarantees that no trades will take place before the opening or after the close of the market. Starting in the 1870s, before microphones and loudspeakers were invented, a large Chinese gong was used. But in 1903, when the NYSE moved to its current building, the gong was replaced by a brass bell, which is now electrically operated at the start and end of each trading day.

Sights Nearby

The Financial District is the scene of a number of different sights in addition to the NYSE. They include the Charging Bull, also called the Bull of Wall Street, which is located in Bowling Green, near the intersection of Broadway and Morris streets;  Federal Hall ; City Hall Park; and the Woolworth Building. It is easy and free to see the exterior of the Woolworth Building, but if you want to take a tour, you will need advance reservations. Battery Park is also within walking distance. From there, you can take a ferry to visit the  Statue of Liberty  and  Ellis Island .

Tours Nearby

This area is rich in history and architecture, and you can learn about it on these walking tours: History of Wall Street and 9/11, Lower Manhattan: Secrets of Downtown, and the Brooklyn Bridge. And if you're into superheroes, the Super Tour of NYC Comics Heroes and More might be just the ticket.

Food Nearby

If you need a bite to eat nearby,  Financier Patisserie  is a great spot for light eats, sweets, and coffee and has several Financial District locations. If you want something more substantial,  Delmonico's , one of NYC's oldest restaurants, is also nearby.  Fraunces Tavern , which first opened as a tavern in 1762 and was later headquarters to George Washingon and home to the Department of Foreign Affairs during the Revolutionary War, is another historic restaurant where you can sit down for a meal, as well as tour its museum. 

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New York Stock Exchange Tours

This post is a guide and a virtual tour of the New York Stock Exchange (NYSE) headquarters in Lower Manhattan, with tips on planning your visit.

Click here for a self-guided tour of Wall Street .

HOW TO GET TO THE NYSE

Located at the intersection of Wall Street and Broad Street, the New York Stock Exchange (NYSE) is by far the world's largest stock exchange and is the symbol of American capitalism.  

The massive facade of the building is actually not on Wall Street but on Broad.  

Click here for directions to the NYSE . Or why not stay in the area?

The Financial District has a number of inexpensive hotels with great reviews on TripAdvisor .

Or, let us take you here. Many of our tours of Lower Manhattan include or start at the NYSE.

Calendar of all Lower Manhattan Tours (including our pay-what-you-wish tours)

This includes our GPS-led audio tour of Lower Manhattan, which we offer in English, Spanish, and German. Here's a sample.

As you can see on the map, the NYSE is within walking distance from several New York City subway lines.

For those new to the NYC subway, read the following 2 posts.

• How to Use the NYC Subway
• Which Subway Pass to Buy

NOTE: If you are considering any of the t ourist attraction concession passes when in NYC, then keep in mind that all include one or more hop-on-hop-off bus tours for free. 

HISTORY + DESIGN

When you turn the corner to see the Broad Street side of the Exchange, you will be standing in a location of great historical significance.

Prior to 1792, businessmen who engaged in the trading of goods and money met under a tree to transact business.

It was a sycamore tree but known more commonly as a buttonwood tree.

Thus in 1792, when 24 stockbrokers signed an agreement that would regulate their dealings, they named it the Buttonwood Agreement.

25 years later, the members of the Agreement drafted an official constitution and the New York Stock & Exchange Board was born.

In 1863 its name would be shortened t o the New York Stock Exchange.

The first location of the NYSE was a room rented in a small for $200 a month in 1817 located at 40 Wall Street (now the location of the Trump Building, one of the top 10 skyscrapers in New York City .  

When the original NYSE HQ’s were burned down in the Great Fire of New York (1835), the Exchange moved to a temporary headquarters and then again in 1865 moved to 10-12 Broad Street.

As the Exchange grew in business, a larger, grander building was needed.

Construction of the current NYSE building began in 1901 and George B. Post was the architect (known for his neo-classical buildings around New York including the glorious Customs House at Bowling Green).  

It took two years to complete the Exchange and costs ran over the estimated price. In the end, the final cost was $4 million.  

R.H. Thomas, chairman of the Building Committee justified the what-was-then substantial amount of money by saying,  “Where so many of our members spend the active years of their lives, they are entitled to the best that architectural ingenuity and engineering skill can produce.”  

Little could he know that a century later, the price of the building was no more than a typical trader’s end of the year bonus!

Above the columns is a pediment with a sculpture designed by John Q.A. Ward (who also designed the over-life-size standing statue of George Washington on the steps of Federal Hall diagonally across from the Exchange.

Ward’s sculpture, called “Integrity Protecting the Works of Man” centers on the wing-hatted Mercury, the god of commerce.

To her left are representations of mining and agriculture and on her right, symbols of industry, s cience, and invention, all sources of American prosperity.    

THE TRADING FLOOR

Although you cannot visit the trading floor for security reasons, don’t feel too disappointed.

It is no longer the chaotic scene we’ve become familiar with throw movies and TV shows, with traders waving slips of paper, yelling stock prices, and negotiating million-dollar deals in a matter of seconds.  

Back in the 1980s, there were 5,500 people working on the trading floor.

But with the advance of technology and paperless transactions, the number of traders on the ground has dwindled to a mere 700 people and is now a much calmer, quieter environment.

Click the image for the interactive 360-degree view of the main trading floor.

Discovery Education  offers an online virtual visit to the NYSE trading floor.

If you are missing the good old days, you can see what a typical day of trading used to be like by watching movies like “Wall Street” with Michael Douglas, “ The Pursuit of Happiness” starring Will Smith, and “ Trading Places” starring Dan Aykroyd and Eddie Murphy. 

THE RINGING OF THE BELL

The ringing of the bell at 9 am and again at 4 pm is more than a gesture - it guarantees the marketplace that no trades will take place before the opening or after the close of the market.

Starting in the 1870s, before microphones and loudspeakers were invented, used a large Chinese gong to let traders know to start or stop trading for the day.

But in 1903, when the Exchange moved to its current building, the gong was replaced by a brass bell which is now electrically operated.

Each of the 4 trading areas of the NYSE has its own bell which operates synchronously from one single control panel.  

You can see a detailed video history of the Exchange bell here.  

STUDENT GROUP VISITS

Unfortunately, the NYSE can no longer accommodate private requests for visits by school groups.

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A Rare Look Inside the New York Stock Exchange

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The New York Stock Exchange used to be a major attraction for tourists and curious locals alike. From 1939 to 2001, pretty much anyone could pop into the trading floor to glimpse the hustle and bustle of high finance. That’s how this legendary prank in 1967 could even take place. But these days, paying visits to the trading floor has become a rare commodity. The NYSE closed its doors to the public just after 9/11 and didn’t open them up again.

Until just recently. The Ultimate Wall Street Experience escorted some of the Downtown Alliance’s staff on a bright and early morning by checking in at the security booth on Wall and Broad Streets. Once inside, coats checked and fancy golden name tags donned, we got to explore the inner workings of this centuries-old institution, from the founding document that created the New York Stock Exchange, The Buttonwood Agreement, signed under a buttonwood tree back in 1792 …

… to the golden-crested original trading floor — with a Fabergé urn in the corner (the largest piece ever created by the jeweler of those iconic gem-encrusted eggs) …

… to vintage ticker-tape machines …

… and maps of Lower Manhattan past.

At 9:15, we were ushered into the modern-day trading floor, stationed with dozens of news crews, for the market’s opening bell, which rang out at 9:30 to wide applause. Even those among us a bit critical of capitalism enjoyed such an iconic New York City ritual.

Popped into the NYSE for the opening 🔔 pic.twitter.com/MuwWrYjlBl — Downtown Alliance (@DowntownNYC) January 22, 2020

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Here's what a typical day is like at the New York Stock Exchange, which turns 225 years old this week

There are few places as important to American business as the New York Stock Exchange. 

The exchange is celebrating its  225th anniversary this week, and a multimillion-dollar renovation completed in February pays homage to its past in every conference room.  Walking around the exchange's many rooms above the trading floor, you'll see historical artifacts like a signed letter from Thomas Edison, a gift from Czar Nicholas II of Russia, and a signed guitar from Jimmy Page. 

We recently took a tour of the stock exchange floor and its newly renovated rooms to see what a typical day is like inside the New York Stock Exchange. 

California-based real estate development company Five Point Holdings held its IPO on the morning of our visit. Excitement filled the floor as the opening bell rang and the executive team cheered.

After the bell, traders worked during the price discovery process on the exchange floor.

Just behind that commotion, CNBC anchors were on set for "Squawk on the Street."

NYSE president Tom Farley was also on the floor, congratulating Five Point employees and giving press interviews.

Just next to the trading floor is the Buttonwood Room, where 250 brokers, clerks, market makers, and clearing firm employees work.

Between the trading floor and the Buttonwood Room, the tech team works tirelessly in what is called "the ramp." This team makes sure that everything is working properly on the floor and that communication is moving smoothly.

Upstairs on the seventh floor, you'll find the Buttonwood Agreement, the signed document that founded the New York Stock Exchange in 1792. Named after the tree that the men sat under while signing it, the agreement holds the signatures of 24 founding members of the New York Stock Exchange.

Board rooms, conference centers, and restaurants were completely redone as part of the renovation that finished this February. Odes to the exchange's past are scattered throughout the building.

The restaurant 1792, named for the year the exchange was founded, also sits on the seventh floor.

The restaurant is only open to listed companies, member firms, the floor community, NYSE employees, and their guests.

A framed menu from 1943 shows the dishes that 1792 once served. Back then, an appetizer like split pea soup was just 25 cents, while the menu's most expensive item was a $1.25 lobster salad.

Originally opened in 1903, the Board Room was designed by architect George B. Post and has been used by the NYSE's governing body for meetings, receptions, and events ever since.

Although the room has gone through various renovations over the years, the original style has been kept intact. Here, a piece of the original wall was kept in place and framed in honor of its history.

The "Wall Regulator Clock," hanging center, was purchased in 1867 to be placed behind the president on the original trading floor. On this clock, the minute hand dominates the other two faces in order to facilitate the 1871 call market, when each stock traded in turn for exactly five minutes.

Originally a natural skylight, the room's ceiling was covered after a terrorist attack in September of 1920, when a horse and buggy packed with dynamite exploded on the corner of Broad and Wall Streets. While the actual skylight was left undamaged, the ceiling of the Board Room was covered for safety reasons.

During renovations in 2016, an LED film was laid above the skylight, creating a natural-looking light that can actually be controlled to match the weather outside.

Also within the Board Room is a monumental stone and silver urn that was a gift from Czar Nicholas II of Russia in 1904.

While not as elaborate as the Board Room, other conference rooms still subtly pay homage to the NYSE's past. This room, known as the Bond Room, has framed old bonds that have been intricately painted.

Inside the Clerk's Room is a signed and framed letter from Thomas Edison, who made vast improvements on the stock ticker, a telegraph that was able to send prices to investors around the country.

Source: History.com

An event space dedicated to Muriel Siebert, the first woman to hold a NYSE seat, holds the colorful coat she would often wear out on the trading floor.

Also on display in a conference room is the guitar of Led Zeppelin's Jimmy Page, who played on the exchange floor when Warner Music Group went public in 2005.

Source: The New York Times

Andy Warhol's art also graces the walls of that same conference room.

Open-floor plans make up much of the office space.

Breakfast and lunch is served in the cafeteria, which has a steep discount for employees.

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360° VR Panoramic Photography & Virtual Tours

New York Stock Exchange :: 360° Virtual Tour

360 Degree Virtual Tour of the New York Stock Exchange

The history of the  New York Stock Exchange begins with the signing of the Buttonwood Agreement by twenty-four New York City stockbrokers and merchants on May 17, 1792, outside 68 Wall Street under a Buttonwood tree.

In 1903, the Exchange moved into its present home at 18 Broad st, a building of neoclassic design by architect George B. Post , with a trading floor measuring 109 x 140 feet and marble walls rising 72 feet to meet the ornate gilt ceiling, at the time, one of the grandest spaces in the nation. Today, the NYSE building is considered one of Post’s masterpieces and is a New York City and national landmark .

[sampano file=”new-york-stock-exchange-1″ title=”New York Stock Exchange Bell Podium :: NYC”]

One of the most familiar features of the New York Stock Exchange is the loud, distinctive Trading Floor bell . the Opening Bell signals the beginning of trading each business day and the Closing Bell signals the ending of trading each business day.

Bells were introduced when continuous trading was instituted in the 1870s. Originally, a Chinese Gong was used, but brass bells have been used since 1903.

note – these images of the NYSE trading floor & bell podium may not be used for any purpose without the express written consent of the NYSE and permission from the photographer

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I Came Close To Dying: Wall Street's Most Photographed Man Is Ready For Normalcy

Stock trader Peter Tuchman works on the floor of the New York Stock Exchange on March 9, 2020. Spencer Platt/Getty Images hide caption

Stock trader Peter Tuchman works on the floor of the New York Stock Exchange on March 9, 2020.

After Peter Tuchman left the New York Stock Exchange in March 2020, he was worried he wouldn't come back.

"I basically came very close to dying," he says.

Known as " the most photographed man on Wall Street ," Tuchman has an amazing expressiveness that tells you instantly if stocks are up or down. He contracted COVID-19 early on and has had health issues ever since. Tuchman didn't return to the trading floor full time until November.

Since the stock market reopened its iconic trading floor last May, after a temporary closure, it has operated with a skeleton crew on-site.

Starting Monday, that will change. If 100% of a firm's traders are fully vaccinated, it can start sending more of them back to the floor. They will be able to eat lunch in their booths again. Masks will be optional in some parts of the floor.

For Tuchman, this is another step forward on the path to normalcy. "We, as the ones who are still left here, are significant and relevant and important," he says.

The exchange is an outlier

The New York Stock Exchange stands out among its rivals. These days, most markets don't have trading floors; they are all-electronic. Last week, the CME Group announced it won't reopen most of its trading pits in Chicago, which it closed during the pandemic.

In 2020, when the New York Stock Exchange decided to send its traders home, there was speculation it could portend a permanent change.

The New York Stock Exchange at Wall Street is expected to fully open its trading floor. Angela Weiss/AFP via Getty Images hide caption

The New York Stock Exchange at Wall Street is expected to fully open its trading floor.

"Many of us thought, well, maybe they'll take the opportunity to get rid of it once and for all," says Joel Hasbrouck, the Kenneth G. Langone professor of business at New York University. "But they didn't. They brought it back."

He says there continues to be an argument for having a traditional trading floor. It can make complicated transactions easier, and there is a benefit to conducting some negotiations face to face.

Stacey Cunningham, the president of the New York Stock Exchange, embraces its status as an outlier.

"It's absolutely true that you can run a market without a trading floor," she says. "The difference is you get a much better result when you combine people with technology in a well-integrated way."

And that's the pitch she and her colleagues make to companies that are considering selling stock to the public.

The lure of the iconic bell

Cunningham also likes to play up the institution's long history. The familiar loud ringing of a big bell signals the opening and closing of the day's trading. The New York Stock Exchange's website points out that the ringing of the bell — the ding, ding, ding played up by TV news — is more than just a colorful tradition that started in the 1870s. It is critical to the orderly functioning of the marketplace, assuring that no trades take place before the opening or after the close of the markets.

The sound of the bell was even trademarked, with an expert describing it this way:

"The sound of a brass bell tuned to the pitch D, but with an overtone of D-sharp, struck nine times at a brisk tempo, with the final tone allowed to ring until the sound decays naturally. The rhythmic pattern is eight 16th notes and a quarter note; the total duration, from the striking of the first tone to the end of the decay on the final one, is just over 3 seconds."

The bell is part of the pomp and ceremony that comes with an initial public offering on the New York Stock Exchange. Executives of companies have always crowded onto a small balcony overlooking the trading floor, and they'd ring the opening bell on the day their stocks first started trading. These days, there are no crowds and executives often appear via video link.

But companies are eager to restart the tradition, and Cunningham says she expects the exchange will welcome them back into the building soon.

Cunningham doesn't expect everyone to return immediately, and despite the change in rules, she believes traders will come back to the building gradually.

"One of the guiding principles that we've had throughout this process was to react to local conditions and increase and ease restrictions as those conditions change," Cunningham says.

This past weekend, Gov. Andrew Cuomo announced the positivity rate in New York City has dropped below 1.5%, and almost half of New York state's adult population has been fully vaccinated.

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Why Are Traders on the Floor of the Exchange?

Gordon Scott has been an active investor and technical analyst or 20+ years. He is a Chartered Market Technician (CMT).

The floor of the stock exchange was once the main location for market transactions. It was home to traders and brokers who did the actual buying, selling, and negotiating on the physical exchange floor. Of course, this was before the evolution of electronic trading platforms . 

Those same brokers and traders are now surrounded by computers that manage the majority of the buying and selling of stocks for their various accounts. Floor trading still exists, but it is responsible for a rapidly diminishing share of market activity.

Key Takeaways

• Open outcry was developed after the first stock exchange was founded in the 17th century.
• Few exchanges now have pit trading, moving from hand signals and verbal communication to automated systems.
• Some exchanges like the NYSE and CME still use floor trading for large companies and more complicated trades.
• Floor trading allows for showmanship and to simplify large, complicated orders.

The Open Outcry System

Open outcry was a system used by traders at all stock exchanges and futures exchanges. This method of trading became the norm after the first stock exchange—the Amsterdam Stock Exchange, now called Euronext Amsterdam—was founded in the 17th century.

Traders communicate verbally and via hand signals to convey trading information, along with their intentions and acceptance of trades in the trading pit . Signals tend to vary based on the exchange. For example, a trader on one floor may flash a signal with his palms facing outward, away from his body to indicate he wants to sell a security. Just like an auction , anyone who participates and is part of the trading pit are able to compete for orders through the open outcry system.

This system of trading may appear to be chaotic and disorganized, but it is actually quite orderly. Traders use signals to quickly negotiate buys and sells on the floor. These signals may represent different types of orders, a price, or the number of shares intended to be part of the trade. Specialists maintain a book of all open orders for a stock or for a group of stocks.

The End of an Era?

Nowadays, few exchanges actually have trading that takes place physically on the floor through the open outcry system. With many exchanges adopting automated systems in the 1980s, floor trading was gradually replaced with telephone trading. A decade later, those system began to be replaced with computerized networks as exchanges began to develop and move to electronic trading platforms .

The London Stock Exchange (LSE) was among the first in the world to move to an automated system in 1986. The Milan Stock Exchange —known in Italian as the Borsa Italiana—followed suit in 1994, with the Toronto Stock Exchange making the switch three years later.

Not only did these automated systems make the trading process simpler, they also helped traders improve on the speed of their trades. Electronic trading systems also cut down on error, reduce costs, and, more importantly, help eliminate the possibility of interference and manipulation by unscrupulous brokers and dealers.

The move to automate trading electronically also made sense because it gave retail investors the opportunity to conduct trades on their own, thus cutting out the need for brokers, dealers, and other professionals to execute trades on their behalf.

Not All Is Lost

While trading on the floor of the exchange is being quickly eroded by electronic trading platforms, the open outcry method of trading doesn't appear to be completely going away any time soon. There are still traders who work on the floor of the New York Stock Exchange (NYSE) —where some large companies still trade in the pit—as well as commodity and options exchanges like the Chicago Mercantile Exchange (CME) .

Floor or pit trading through the open outcry system is still executed at the NYSE.  

But with so much of the action of the trading world being executed electronically, does it really make sense to keep people in the pit? Some people believe there's a lot to lose by eliminating the open outcry method. That's because they say that electronic trading can only capture so much, while human activity on the floor reveals much more.

Proponents of the trading pit say having people on the floor can help relay the message of the pit, and can help provide an assessment of a trader's intentions behind a buy or sell move.

Trading face-to-face also helps simplify orders that are more complicated such as commodity futures or options trades. By executing these large and complex orders through the open outcry system, traders are better able to work with others to get a better price—something electronic systems can't always do.

The Bottom Line

The open outcry system has been part of the trading world since the 1600s, establishing decorum and a language that many traders had to learn in order to do their job.   But that changed with the development of technology. Electronic trading may now be the norm of the industry, but it hasn't completely wiped out the open outcry system. Traders are still trading on the floor of exchanges for now.     And it will probably remain that way for some time, where standing on the trading floor is still a necessary way of trading on the stock exchange

Michael Gorham and Nidhi Singh. " Electronic Exchanges: The Global Transformation from Pits to Bits ," Pages 5-7. Elsevier, 2009.

University of Amsterdam. " The World’s First Stock Exchange: How the Amsterdam Market for Dutch East India Company Shares Became a modern Securities Market, 1602-1700 ," Page 2 of PDF.

Capital Amsterdam Foundation. " From Floor to Screen ."

CME Group. " CME Group Chairman & CEO Annual Meeting Remarks on Reopening Trading Floor ."

New York Stock Exchange. "' Open Outcry' Thrives at NYSE Options ," Page 1.

FINRA. " Flashback Wall Street: Remembering the Glory Days of the NYMEX ." (Login required.)

CME Group. " An Introduction to Futures and Options Trading ," Pages 100-101.

Michael Gorham and Nidhi Singh. " Electronic Exchanges: The Global Transformation from Pits to Bits ," Page 6. Elsevier, 2009.

Michael Gorham and Nidhi Singh. " Electronic Exchanges: The Global Transformation from Pits to Bits ," Pages 10, 76-78. Elsevier, 2009.

London Stock Exchange Group. " The Market Open Ceremony ."

Michael Gorham and Nidhi Singh. " Electronic Exchanges: The Global Transformation from Pits to Bits ," Pages 67-68. Elsevier, 2009.

Michael Gorham and Nidhi Singh. " Electronic Exchanges: The Global Transformation from Pits to Bits ," Pages 13, 298. Elsevier, 2009.

Michael Gorham and Nidhi Singh. " Electronic Exchanges: The Global Transformation from Pits to Bits ," Page 36. Elsevier, 2009.

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Video of the Day

How to Spend a Day at the NYSE

There are only two ways to spend the day at the New York Stock Exchange: as an employee or a student. Public tours of the NYSE were suspended after the September 11th terrorist attacks, and now visitors can only get a floor tour through an educational program on-site or an online virtual tour.

NYSE Educational Seminars

Student groups and special classes get to see how the NYSE works by touring the trading floor. According to the NYSE, 170 tours were given to 4,000 college students in 2012. If you aren't able to get to Wall Street physically, you can spend a day at the NYSE virtually. During a live online session, participants are able to take a virtual tour and ask questions about what gets done on the floor. The NYSE also offers teachers' workshops and graduate courses.

• New York Magazine: New York Stock Exchange

About the Author

Cari Oleskewicz is a writer and blogger who has contributed to online and print publications including "The Washington Post," "Italian Cooking and Living," "Sasee Magazine" and Pork and Gin. She is based in Tampa, Florida and holds a Bachelor of Arts in communications and journalism from Marist College.

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19 April 2024

Transaction in own shares

HSBC Holdings plc ("HSBC" or the "Company") announces that it has purchased for cancellation the following number of its ordinary shares of US$0.50 from Merrill Lynch International ("Merrill Lynch") as part of its buy-back announced on 22 February 2024.

All repurchases on the London Stock Exchange, Cboe Europe Limited (through the BXE and CXE order books) and/or Turquoise ("UK Venues") are implemented as "on Exchange" transactions (as such term is defined in the rules of the London Stock Exchange) and as "market purchases" for the purposes of the Companies Act 2006.

Hong Kong Stock Exchange

All repurchases on The Stock Exchange of Hong Kong Limited ("Hong Kong Stock Exchange") are "off market" for the purposes of the Companies Act 2006 but are transactions which occur "on Exchange" for the purposes of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and which constitute an "on-market share buy-back" for the purposes of the Codes on Takeovers and Mergers and Share Buy-backs.

Since the commencement of the buy-back announced on 22 February 2024, the Company has repurchased 248,297,733 ordinary shares for a total consideration of approximately US$1,945.1m.

Following the cancellation of the shares repurchased on the UK Venues, the Company's issued ordinary share capital will consist of 18,881,133,125 ordinary shares with voting rights. There are no ordinary shares held in treasury. Cancellation of the shares repurchased on the Hong Kong Stock Exchange takes longer than those repurchased on the UK Venues and a further announcement of total voting rights will be made once those shares have been cancelled.

The above figure of 18,881,133,125 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

In accordance with Article 5(1)(b) of the Market Abuse Regulation (EU) No 596/2014 (as it forms part of domestic law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018), a full breakdown of the individual trades made by Merrill Lynch on behalf of the Company is available via the link below.

http://www.rns-pdf.londonstockexchange.com/rns/4032L_1-2024-4-19.pdf

This announcement will also be available on HSBC's website at www.hsbc.com/sea

Enquiries to:

Corporate Governance & Secretariat

+44 (0) 207 991 3048

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