New York Stock Exchange

The New York Stock Exchange, often called the Big Board, is the world's largest stock exchange by market capitalization, surpassing $44 trillion in early 2026. Located at its historic building at 11 Wall Street in the Financial District of Lower Manhattan, the NYSE traces its roots to a 1792 agreement under a buttonwood tree. Today, it is owned by Intercontinental Exchange (ICE), a publicly traded company that lists on the NYSE under the ticker ICE. Before the 2013 acquisition, the exchange was part of NYSE Euronext, formed through a 2007 merger with the European exchange group. The NYSE remains a symbol of American capitalism, with a Gallup poll from 2022 showing that 58% of U.S. adults had money in the stock market through stocks, mutual funds, or retirement accounts.

The exchange evolved from an open outcry floor-trading system to a hybrid model. In 2005, the NYSE Hybrid Market launched, blending floor-based auction trading with electronic systems. The open outcry system was eliminated in 2006 when the NYSE merged with Archipelago Exchange (Arca), the first all-electronic U.S. exchange. Today, designated market makers (DMMs) facilitate trading in an auction market model, matching buyers and sellers and sometimes trading from their own inventory.

Major historical milestones include reaching $1 trillion in market capitalization on February 8, 1980, and surviving the Black Monday crash of October 19, 1987, when the Dow Jones Industrial Average plunged 508 points (22% of its value) on 604 million shares traded. The exchange also temporarily closed after the September 11, 2001 terrorist attacks. Consolidated Edison (ED) holds the distinction of being the longest-listed NYSE stock, having joined in 1824 as the New York Gas Light Company. [edit]