New York Stock Exchange (NYSE)

Definition: An age-old stock exchange where floor traders buy and sell large volumes of stock.

TeenAnalyst Advice: The New York Stock Exchange is the oldest stock exchange in the country.  It's also the most selective in terms of what stocks can be listed on it.

People are always arguing that the NASDAQ is a better exchange because everything is done electronically.  But what most people don't realize is that the NYSE is also highly automated.  Floor traders only execute large trades.

Why have a person execute a trade?  Because they can ensure you get the best price!

Jonny Boy said:

Actually - I find this to be more accurate: New York Stock Exchange took shape in New York City in the 1790's, where merchants and brokers held public auctions and negotiated deals in and around the landmark Tontine Coffee House at the corner of Wall Street and Water Street. New York proved a particularly rich market for the government securities which helped fund the Revolutionary War. As New York commerce progressed, the budding securities market grew accordingly in complexity and scope. On May 17, 1792, two dozen investors signed the Buttonwood Agreement, founding the Exchange on lower Wall Street. Following the War of 1812 the market experienced unprecedented growth.