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Equities

At the New York Stock Exchange, we protect market integrity and drive innovation that connects investors to opportunity. NYSE markets offer multiple trading models to provide a superior trading environment

NYSE, NYSE American Equities, NYSE Arca Equities, NYSE Chicago, and NYSE National all operate using NYSE Pillar, our integrated trading technology platform that is designed to improve efficiency and reduce complexity, while enhancing consistency, performance and resiliency.

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The benefits of membership

Joining the NYSE Exchanges allows firms superior market access, technology solutions, industry expertise and data products that drive performance every day.

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Product Spotlight

Discretionary Pegged Order

The DPO is a passive non displayed order type that provides price protection via a data-driven signal. Discretionary Pegged Orders rest on the NYSE Arca order book while seeking to access liquidity at the most advantageous price up to the midpoint.

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The benefits of DPO on NYSE Arca

DPO provides flexible order placement and price protection opportunities on NYSE Arca, the 3rd largest equity exchange in the U.S. and the preferred venue for ETFs.

This DPO will:

  • Provide an extra level of protection against unstable quotes, without artificial latency restrictions.
  • Provide a data-driven discretionary liquidity solution on a deep, diverse exchange.
  • Trade at multiple price points to maximize spread capture opportunities.

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Liquidity Programs

NYSE SLP

Supplemental Liquidity Providers (SLPs) are market makers and proprietary trading firms able to quote aggressively across a range of securities. By meeting stringent quoting requirements these firms are eligible for enhanced incentive structures.

NYSE Arca LMM

NYSE Arca Lead Market Makers (LMMs) provide reliable liquidity throughout the trading day and during opening and closing auctions for NYSE Arca-listed ETPs. LMMs and Supplemental LMMs have opportunities for enhanced trading incentives when meeting certain market quality benchmarks.

NYSE and NYSE Arca Retail Liquidity

The NYSE and NYSE Arca Retail Liquidity programs promote cost savings through price improvement for individual investors on retail order flow for securities that trade on the NYSE and NYSE Arca markets. Offering price improvement for retail orders within an exchange environment offers individual investors new economic incentives and provides greater transparency, liquidity and competition in the U.S. cash equities marketplace. The program can be utilized by retail firms directly as well as by the brokers that service retail order flow providers.

NYSE Arca Market Maker

The all-electronic NYSE Arca relies on a system of competing Market Makers to provide a fast, efficient and consistent marketplace for all participants, including liquidity providers. Market Makers are required to maintain adequate minimum capital and continuous, two-sided identified and displayed quotes for all registered securities during Core Trading Hours (9:30 a.m. to 4:00 p.m. ET).

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Market Insights

The NYSE Research team explores market trends, analyzes exchange products and trading situations, and offers data-driven perspectives that promote greater understanding of our markets. For example, we recently analyzed how increased retail activity in the equities market has affected various aspects of trading, in particular the period immediately after the opening auction. Market participants often avoid this time of day due to higher volatility, an approach worth re-evaluating given current trends.

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Our Exchanges

The New York Stock Exchange operates five equities exchanges, each purpose-built to meet the needs of corporate and ETF issuers and offer greater choice to investors in how they trade.