The New York Stock Exchange plans to launch a private members' club in a renovated vault that once housed stock certificates, setting the stage for a summer debut. NYSE Group president Lynn Martin will have final say on who gains entry to this exclusive venue. Wall Street's premier exchange hopes to attract financial luminaries just as markets brace for landmark IPOs.

The exchange faces competition from Nasdaq, which recently changed its index methodology to draw large listings. SpaceX's anticipated IPO could value the company at $1.75 trillion, potentially the largest flotation in history. NYSE and Nasdaq are competing for not only prestige but also substantial listing fees.

This revival of Wall Street's private club culture echoes the NYSE's former Stock Exchange Luncheon Club, which closed in 2006 as electronic trading replaced face-to-face commerce. Financial activity has shifted to Midtown over three decades, with changing work habits making traditional networking venues less relevant.