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.

NYSE Market Quality

* Calculated using Enhanced Quoted Spread (EQS). EQS methodology is described here.

Source: NYSE Internal Database and Consolidated Tape Statistics, March 31, 2020

Data includes top 10 exchanges in all categories.

Includes NYSE Listed Securities only.