Eric H: Is the NYSE considered a physical location auction market?
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Answer by Joe S
Yes it has physical location 11 Wall NY. NY and it is an auction market
Yes. The New York Stock Exchange (NYSE) is a stock exchange located at 11 Wall Street in lower Manhattan, New York City, New York. The NYSE trading floor is composed of four rooms used for the facilitation of trading.
On the trading floor, the NYSE trades in a continuous auction format, where traders can execute stock transactions on behalf of investors. They will gather around the appropriate post where a specialist broker, who is employed by an NYSE member firm (that is, he/she is not an employee of the New York Stock Exchange), acts as an auctioneer in an open outcry auction market environment to bring buyers and sellers together and to manage the actual auction. However, over 80% of all orders are now submitted to the exchange electronically and it is considered a “hybrid” market since it incorporates both.
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