Stocks trade on multiple markets, but the listing venue has a unique responsibility to:

  • Provide a well-regulated market. NYSE Regulation oversees our responsibilities to protect investors and the public interest.
  • Establish displayed prices. NYSE’s unique market model provides deep liquidity and high-quality quotes that lower volatility and the issuers cost of capital.
  • Provide price discovery during the opening and closing auctions. Our unique auction process with Designated Market Makers provides superior price-discovery.

There is no single metric to measure market quality. Corporate issuers should consider various metrics when evaluating performance, including liquidity, the tightness of the bid-ask spread, the duration and size of the quote at the best prices, and other factors. See NYSE’s results below.


Market Quality Performance1

Source NYSE Internal Database and Consolidated Tape Statistics, Q42018


Source NYSE Internal Database and Consolidated Tape Statistics, Q42018


Source NYSE Internal Database and Consolidated Tape Statistics, Q42018


Source NYSE Internal Database and Consolidated Tape Statistics, Q42018

1 For NYSE listed issues only