page_title: New York metropolitan area
section_title: Wall Street
hierarchical_section_title: New York metropolitan area / Economy / Wall Street
caption_attribution_description: English: Flatiron District
context_page_description: The New York metropolitan area is the largest metropolitan area in the world by urban landmass, at 3,450.2 sq mi. The metropolitan area includes New York City, Long Island, and the Mid and Lower Hudson Valley in the state of New York; the five largest cities in New Jersey: Newark, Jersey City, Paterson, Elizabeth, and Edison, and their vicinities; and six of the seven largest cities in Connecticut: Bridgeport, New Haven, Stamford, Waterbury, Norwalk, and Danbury, and their vicinities. The New York metropolitan area is part of the larger Northeast Megalopolis.
  The New York metropolitan area remains, by a significant margin, the most populous in the United States, as defined by both the Metropolitan Statistical Area and the Combined Statistical Area. The metropolitan area is home to approximately 6% of the United States' population. It is the largest urban agglomeration in the Americas and the tenth largest in the world. The New York metropolitan area continues to be the premier gateway for legal immigration to the United States, with the largest foreign-born population of any metropolitan region in the world.
context_section_description: New York City's most important economic sector lies in its role as the headquarters for the U.S. financial industry, metonymously known as Wall Street. Anchored by Wall Street, in the Financial District of Lower Manhattan, New York City has been called both the most economically powerful city and the leading financial center of the world, and the city is home to the world's two largest stock exchanges by total market capitalization, the New York Stock Exchange and NASDAQ. The city's securities industry, enumerating 163,400 jobs in August 2013, continues to form the largest segment of the city's financial sector and an important economic engine, accounting in 2012 for 5 percent of the city's private sector jobs, 8.5 percent (US$3.8 billion) of its tax revenue, and 22 percent of the city's total wages, including an average salary of US$360,700.
  Manhattan had approximately 520 million square feet (48.1 million m²) of office space in 2013, making it the largest office market in the United States, while Midtown Manhattan is the largest central business district in the nation.
  Lower Manhattan is the third largest central business district in the United States and is home to both the New York Stock Exchange, on Wall Street, and the NASDAQ, at 165 Broadway, representing the world's largest and second largest stock exchanges, respectively, when measured both by overall average daily trading volume and by total market capitalization of their listed companies in 2013. Wall Street investment banking fees in 2012 totaled approximately US$40 billion, while in 2013, senior New York City bank officers who manage risk and compliance functions earned as much as US$324,000 annually.
  In July 2013, NYSE Euronext, the operator of the New York Stock Exchange, took over the administration of the London interbank offered rate from the British Bankers Association.
  Many Wall Street firms have added or moved auxiliary financial or technical operations into Jersey City, to take advantage of New Jersey's relatively lower commercial real estate and rental prices, while offering continued geographic proximity to Manhattan's financial industry ecosystem.
caption: Manhattan's Flatiron District was the cradle of Silicon Alley, now metonymous for the New York metropolitan region's high tech sector, which has since expanded beyond the area.[188]
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