New York City is the business and financial capital of the world, and many leading national and international corporations have their headquarters there. The city's financial center, Wall Street, is the world's leading center of finance and the home of the nation's most important securities market, the New York Stock Exchange. The same area contains the nation's second largest exchange, the American Stock Exchange, and several smaller exchanges, including the Commodity Exchange, which deals in metals, rubber, and hides; the Coffee, Sugar, and Cocoa Exchange; the Cotton Exchange; the Futures Exchange; the New York Mercantile Exchange; and the International Monetary Market. In addition, in the vicinity of Wall Street are many of the nation's biggest banks, trust companies, insurance companies, and brokerage houses.
Because of its favorable location, excellent port facilities, and large population, New York City is the leading wholesale and retail trade center in the United States. New York is also a leader in communications, the hotel and restaurant business, building construction, and manufacturing.
