United States Largest Stock/Securities Markets

  • The New York Stock Exchange (NYSE, officially The New York Stock Exchange Euronext):  This Exchange opened in 1792. In 2007 it merged with Euronext to form NYSE Euronext.  The NYSE is located at 11 Wall Street in New York City—thus, the name Wall Street has become synonymous with U.S. financial markets.  The NYSE is also referred to as the “Big Board” and "The Exchange".  Its total capitalization (value) is larger than the next four largest exchanges combined.  More than one-third of the world’s cash equities are traded on the NYSE Euronext markets.  In general, the largest and oldest companies are on the NYSE.  In January 2009 it completed its acquisition of the American Stock Exchange.  NYSE Euronext is the world’s largest equities market.  This market is open Monday through Friday from 9:30 AM till 4:00 PM (ET).  If you are ever in New York City during the exchange’s hours, you can take a tour and see the market in action (from an observation deck above the floor).  The Exchange also operates NYSE Area Equities.  This is an all-electronic trading platform.

    • Circuit Breakers:  One way the New York Stock Exchange is hoping to prevent "stop panic selling", i.e., stock market crash, such as occurred in the 1929 crash, is to implement what is called "Circuit Breakers".  These are mandatory trading time-outs if the market goes down by 10% or more. It is hoped that the pauses in trading gives traders the time to gather information and review the situation instead of just panic selling.  The trigger levels are 10%, 20% and 30%.  This can trigger anything from a one hour break in trading, depending on the time of day, to a market shut down for the balance of the day.  To learn more you may go to: http://www.nyse.com/press/circuit_breakers.html

  • American Stock Exchange (AMEX):  is smaller than the NYSE and is the only other traditional/physical stock exchange in the U.S.   AMEX has also taken the lead in the introduction of new investment products such as exchange-traded funds (ETF), which was created in 1998.   AMEX was acquired in 2008 by NYSE Euronext. http://www.nyse.com/attachment/amex_landing.htm

  • National Association of Securities Dealers Quotation System (NASDAQ or NASDAQ OMX):  was formed in 1971.  Stocks are listed and traded electronically, versus on a physical floor such as AMEX and NYSE.  It is an association of over-the-counter brokers and dealers that establishes legal, ethical and standards of conduct for their members.   http://www.nasdaq.com
  • Over-the-counter (OTC):  stocks are traded through a network of dealers linked across the U.S. by telephones and computers.  There is no physical trading floor like NYSE. Stocks listed on OTC tend to be smaller, newer and riskier than the above mentioned exchanges.  All government and municipal bonds and most corporate bonds are traded in the OTC market. http://www.otcbb.com

  • Other U.S. Exchanges There are other U.S. exchanges such as:  Chicago Stock Exchanges (CSE) http://www.chx.com;  Chicago Mercantile Exchange (CME) http://www.cmegroup.com;  Kansas City Board of Trade http://www.kcbt.com;  Minneapolis Grain Exchangehttp://www.mgex.com .