Chapter 14 The Evolution of the New York Stock Exchange
As market composition has changed and many derivative instruments are actively traded, how has the NYSE adapted? “The Big Board” continued to be the world’s largest stock exchange by market capitalization of its listed companies at U.S.$21.3 trillion as of June 2017. The average daily trading value was approximately U.S.$169 billion in 2013.
The NYSE continues to trade in a continuous auction format, where traders can execute stock transactions on behalf of investors. The auction process moved toward automation in 1995 through the use of wireless handheld computers (HHC), which enabled traders to receive and execute orders electronically via wireless transmission ending a 203-year process ...
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