(DNAINFO) Nicole Levy — This Friday at 11 a.m., New York City will salute the U.S. women’s soccer team and its World Cup championship win with a ticker-tape parade on that stretch of Broadway known as The Canyon of Heroes.

The parade will be the first the city has held in honor of a women’s team and the first since 1998 to celebrate a group other than a local sports team.

The tale of the ticker-tape parade begins in 1886 with a procession for the dedication of the Statue of Liberty. The tradition gets its name from the one-inch-wide ribbon of paper on which a machine called a ticker printed stock quotes transmitted over telegraph lines. In the 1880s, brokerage firms dotted Lower Manhattan and skyscrapers were replacing squat buildings in the neighborhood; the firms provided confetti, the skyscrapers a perch for its tossing.

Source: A History of New York City’s Ticker-Tape Parades – Financial District – DNAinfo.com New York