The New York Stock Exchange (NYSE) is the largest securities exchange in the world. There are many smaller trading centers around the world, namely Toronto, London and Tokyo on the world market, and Chicago, Boston, Philadelphia and Pacific coast in the U.S.
The NYSE is located on Wall St. in New York City. The trading floor is housed in a building owned by the Exchange. Buyers and sellers of securities trade securities on the central floor.
The NYSE is an auction-based trading house. Buyers and sellers negotiate on purchase price through an auction system where prices are named with volumes available and sellers may choose from among the buyers who are willing to purchase their securities.
A few more facts about the NYSE include.
The NYSE has over 2700 securities available to be bought and sold.
The NYSE represents more than 25 trillion dollars of combined capitalization.
The exchange is open all normal working days from 9:30 AM to 4 PM EST.
There are 1366 members that have the right to exchange securities on the floor of the exchange. These members are said to have seats on the exchange. These seats on the exchange can be bought and sold as well.