MARKET QUALITY PERFORMANCE1

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.

1For NYSE listed issues only.


MOST MARKET SHARE AND LIQUIDITY: NYSE has the most market share with over 2 times more liquidity than the next largest exchange.
GREATEST NUMBER OF SECURITIES WITH A DISPLAYED QUOTE: NYSE has the greatest number of securities quoted.
MOST TIME QUOTING AT BEST PRICES: NYSE is at the best price (NBBO) 44% more often than any other exchange throughout the day.
LARGEST QUOTED SIZE AT BEST PRICES: NYSE has the most displayed shares at the best price, more than double the next largest exchange
MOST TIME WITH THE LARGEST QUOTED SIZE AT BEST PRICES: NYSE is at the best price with the greatest size more than 3 times longer than any other exchange throughout the day
NARROWEST QUOTED SPREAD: NYSE has the narrowest quoted spread.
MOST TIME WITH A TWO-SIDED QUOTE: NYSE displays two-sided liquidity 100% of the time.
MOST BLOCK-SIZE EXECUTED VOLUME: NYSE has the most block-size among exchanges.