NYSE

The NYSE (New York Stock Exchange) is the largest US stock exchange by the market value of its listed companies. Its roots trace to the 1792 Buttonwood Agreement, and it has been owned by Intercontinental Exchange (ICE) since 2013.

How it works

The NYSE is a hybrid market. Most trading is electronic, but each listed stock is assigned a designated market maker (DMM) on the floor who is responsible for maintaining orderly trading and for running the opening and closing auctions. Floor brokers can also represent large orders in person.

The NYSE group operates several venues:

• NYSE, the flagship market for large, established companies.
• NYSE American, formerly the American Stock Exchange, aimed at smaller companies.
• NYSE Arca, an electronic exchange that lists most US exchange-traded funds.

Continued listing standards include a $1.00 average closing price over 30 consecutive trading days (the minimum bid price test) and market capitalization and stockholders' equity tests.

Why it matters for traders

The NYSE closing auction is one of the largest liquidity events of the day, especially on index rebalance dates, when huge volume prints at the official close. Imbalance data published before the close can signal pressure in individual names.

Listing changes also generate news. A company moving from Nasdaq to the NYSE, or vice versa, files a notice and usually issues a press release. Noncompliance notices from NYSE or NYSE American must be disclosed on an 8-K and can precede delisting.

FAQ

What is the difference between NYSE and Nasdaq?

Both are national securities exchanges. The NYSE uses designated market makers and a physical floor alongside electronic trading, while Nasdaq is fully electronic with competing market makers. Each has its own listing standards.

What are the NYSE trading hours?

Core trading runs from 9:30 a.m. to 4:00 p.m. ET. NYSE Arca also offers extended pre-market and after-hours sessions.