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.