New York City the city is home to the world's two largest stock exchanges by total market capitalization, the New York Stock Exchange and NASDAQ. In 1664, the city was named in honor of the Duke of York, who would become King James II of England. James's older brother, King Charles II, had appointed the Duke proprietor of the former territory of New Netherland, including the city of New Amsterdam, which England had recently seized from the Dutch. During the Wisconsinan glaciation, 75,000 to 11,000 years ago, the New York City region was situated at the edge of a large ice sheet over
History of the New York City Subway slow, but several connections were built between the IND and BMT, which now operate as one division called the B Division. Since the IRT tunnel segments are too small and the stations too narrow to accommodate B Division cars, the IRT remains its own division, the A Division. The NYCTA, a public authority presided over by New York City, was created in 1953 to take over subway, bus, and streetcar operations from the city. The NYCTA was under control of the state-level MTA in 1968. Soon after the MTA took control of the subway, New York City entered a fiscal