Western Union has several divisions, with products such as person-to-person money transfer, money orders, business payments and commercial services. Another invention of Western Union - time synchronization. In the early 60s Western Union has put into operation transcontinental microwave system of data transmission via radio waves, completely replacing the web of telegraph poles and wires. In October 2006 the company made an initial public offering of shares on the New York Stock Exchange, becoming independent from First Data company. In 1884 Western Union has become a joint-stock company and was brought to the stock exchange. The company has entered in the first American stock index Dow Jones.