Not Your Grandma’s Stock Market
The Stock Market Has Changed, and Not for the Better
Jim McTague
A revolution inexorably altered the nature and structure of the American stock market beginning in 2007; however, with the exception of those persons who actually work full-time in the investment world, few persons realized a radical change had occurred. As late as 2010, the average investor still believed that the stock market was dominated by two major exchanges: the New York Stock Exchange (NYSE) and the National Association of Securities Dealers Automated Quotation (NASDAQ) Exchange. In fact, the stock market had expanded to more than a dozen registered equity exchanges and over 200 other stock-trading venues. Retail investors’ buy and sell orders ...
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