The New York Stock Exchange (NYSE) is a national securities exchange operating the largest listed equities market in the world by combined market capitalisation of its companies. It runs a hybrid trading model that pairs continuous electronic execution with human Designated Market Makers (DMMs) physically present on the trading floor at 11 Wall Street, who are obligated to maintain fair and orderly markets in their assigned stocks and to manage opening and closing auctions. The exchange has been registered with the U.S. Securities and Exchange Commission since 1934 and is owned by Intercontinental Exchange (ICE), which acquired it as part of NYSE Euronext in 2013. Beyond the flagship NYSE market, ICE operates it alongside NYSE Arca (a fully electronic market and a leading listing venue for exchange-traded products), NYSE American (equities and options, historically serving smaller-cap issuers), and NYSE Texas, a fully electronic equities exchange. NYSE differentiates itself from primarily dealer-driven, fully electronic venues such as Nasdaq through its DMM floor structure and its listing standards, which have traditionally attracted large, established, blue-chip companies rather than early-stage growth issuers. Its listing business spans domestic and international companies, and NYSE Arca's ETP franchise makes the group a significant venue for exchange-traded fund listings alongside individual equities. NYSE Group's markets together trade equities, equity options, and exchange-traded products, giving issuers a choice of venue within the same corporate family depending on company size and structure. The exchange traces its origin to the Buttonwood Agreement, signed by 24 stockbrokers on 17 May 1792, and its trading floor building at 11 Wall Street, completed in 1903, is a designated National Historic Landmark. As of mid-2026 it lists just over 2,000 companies with a combined market capitalisation of roughly $39 trillion, the largest such figure of any exchange in the world by that global measure. The exchange's own reporting credits NYSE with seven of the ten largest IPOs completed globally in 2025. NYSE Texas, announced in February 2025 and launched on 31 March 2025, is a fully electronic equities exchange based in Dallas, created by reincorporating the former NYSE Chicago. NYSE president Lynn Martin said in mid-2026 that it had passed 100 dual-listed companies in under a year, a move the exchange has tied to the more than $3.7 trillion in market value already held by NYSE-listed companies incorporated in Texas and to Dallas's growth as a secondary U.S. financial hub.
