NYSE Stock Exchange History
The New York Stock Exchange traces its origins to a founding agreement in 1792. The NYSE registered as a national securities exchange with the U.S. Securities and Exchange Commission on October 1, 1934. The Governing Committee was the primary governing body until 1938, at which time The Exchange hired its first paid president and created a thirty-three member Board of Governors. The Board included Exchange members, non-member partners from both New York and out-of-town firms, as well as public representatives.
The NYSE offers trade with Stocks, Options, Warrants, EFT:s, Certificate for difference and a number of other financial instruments.
NYSE Stock Exchange Board of Directors
In 1971 The Exchange was incorporated as a not-for-profit corporation. In 1972 the members voted to replace the Board of Governors with a twenty-five member Board of Directors, comprised of a Chairman and CEO, twelve representatives of the public, and twelve representatives from the securities industry.
Subject to the approval of the Board, the Chairman may appoint a President, who would serve as a director. Additionally, at the Board’s discretion, they may elect an Executive Vice Chairman, who would also serve as a director.
AMEX Stock Exchange Description.
The alliance of technology and people is a hallmark of auction market trading, and the AMEX has been a pioneer in market innovation for nearly a century
Today at the American Stock Exchange, specialists, traders and brokers use the world’s most sophisticated, advanced technology to enhance trading efficiency and reliability for the investing public.
AMEX technology improves customer service for all of the auction market participants each step of the way. For listed companies and their investors, our state-of-the-art trading ensures trading fairness. Member firms receive instantaneous order processing and reconciliation. Electronic display books greatly assist AMEX Specialists in maintaining efficient and liquid markets, resulting in narrower spreads for customers.
AMEX Stock Exchange Traded Funds (ETFs)
The American Stock Exchange’s Exchange Traded Funds (ETFs) Marketplace includes ETFs (Exchange Traded Funds) and iShares such as, DIA (Nasdaq-100 Index Tracking Stock, QUBES), DIA (DIAMONDS), and SPY (Select Sector SPDRs). Listed and traded in the Marketplace is an entire family of ETFs – index-based investment products that let you buy or sell shares of entire portfolios of stock in a single security. Pioneered by the Amex, these unique financial products combine the opportunities of indexing with the advantages of stock trading.
With ETFs based on broad-market, sector and international indexes, you have a wide range of investment opportunities. You have the ability to establish long-term investments in the market performance of the leading companies in the leading industries in the United States, or you can custom tailor asset allocations using a range of ETFs (Exchange Traded Funds) to fit your particular investment needs or goals. You can hold ETFs based on a broad-market index as a core investment, for example, then use additional ETFs to increase your exposure in sector and/or international index performance.
AMEX Stock Exchange History
In 1995, the AMEX became the first U.S. stock market to maintain a presence on the world wide web, offering a site rich with comprehensive data on our listed companies, options, derivatives and capital markets products. We link, the exclusive, automated service for our listed companies, offers potential investors and shareholders a range of information on every AMEX stock.
The NASDAQ Exchange
As the world’s largest electronic stock market, NASDAQ® is not limited to one central trading location. Rather, trading is executed through NASDAQ’s sophisticated computer and telecommunications network, which transmits real-time quote and trade data to more than 1.3 million users in 83 countries. Without size limitations or geographical boundaries, NASDAQ’s “open architecture” market structure allows a virtually unlimited number of participants to trade in a company’s stock.
Today, NASDAQ lists the securities of nearly 4,100 of the world’s leading companies and each year, continues to help hundreds of companies successfully make the transition to public ownership.
Trading on NASDAQ is not limited to any fixed number of participants. This allows a large number of firms with widely different business models and trading technologies to connect to the NASDAQ network and compete on an equal basis. Rather than forcing investors to go through a single financial firm to buy or sell stocks, NASDAQ links up a variety of competitors and lets participants choose with whom they are going to trade. All firms trading NASDAQ stocks must be certified with the Securities and Exchange Commission (SEC) and registered with NASDAQ and NASDAQ Regulation®. Following are examples of the kinds of firms trading NASDAQ stocks:
Through its unique framework of multiple market participants, NASDAQ provides listed companies’ securities with ready access to investors, visibility in the marketplace, and market conditions that promote immediate and continuous trading:
Liquidity is best defined as the ease with which stocks can be bought and sold in the market. By encouraging trading among a virtually unlimited number of market participants, NASDAQ offers an environment that facilitates greater liquidity.
Depth of Market
- Depth of market refers to the total amount of money market makers have invested in a single security and is related to the number of market participants trading in the security. However, even a few market participants can provide abundant depth of market by committing to buy or sell large quantities of a security. Knowing there is depth of market can reassure investors of a stock’s marketability, especially during periods of heavy trading volume.
Transparency, the ability to view investors’ buy and sell orders at different price levels, is crucial to the decision-making process in securities trading. NASDAQ’s open market structure offers a level of transparency not found on other major U.S. markets. On NASDAQ, all bid and ask quotations in a given security are broadcast over the network. All NASDAQ market participants — regardless of whether they are professional traders — can see the same information.
In securities trading, as in most industries, competition is one of the most important factors in creating price efficiencies. The aggressive competition for orders fostered among NASDAQ’s market participants helps to ensure that investors receive the best prices for the securities they trade.
NASDAQ is building the world’s first truly global stock market — digital and Internet-accessible, open to anyone anywhere in the world, 24 hours a day. NASDAQ has already broken new ground in Europe, Hong Kong, and Canada , with additional plans for Asia, Latin America, and the Middle East. By reaching out around the globe, NASDAQ is creating new links to additional capital and an even broader pool of investors.