The Three Major US Stock Exchanges
The New York Stock Exchange (NYSE) was the first official stock exchange to have been established in the United States. After the formation of the New York Stock Exchange (NYSE) in 1792, there were a number of traders who were not allowed to trade on the New York Stock Exchange as they were considered not to be ‘good enough’.
These traders who could not make it on the New York Stock Exchange started trading on the street curb and later become dubbed the ‘Curbside Traders’. Over years these traders started moving indoors and started the American Stock Exchange (AMEX).
In 1971 the United States saw the establishment of the first electronic stock exchange, the National Association of Securities Dealers Automated Quotation System (Nasdaq).
These are the three major stock exchanges in the United States and they are in direct competition with one another. Competition, on the other hand is good as it ensure that orders are filled faster and more cheaply for traders.
The US also consists of smaller stock exchanges, such as the Boston Stock Exchange, Cincinnati Stock Exchange, Pacific Stock Exchange and the Philadelphia Stock Exchange, which is the US’s oldest organized stock exchange.