NYSE completes electronic trading transformation

New York (NY) - Today marked one of the most important changes in the way stocks are traded at The New York Stock Exchange. After nearly 190 years of securities trading exclusively on-site in the New York City building, an online component is now full in tact, as the last 105 stocks made the electronic transformation today.

As one of the most recognized securities trading institutions in the world, the New York Stock Exchange (NYSE) became the hub for buying and selling more than 3600 stocks, including several of the top companies in the world. Even after the opening of the Nasdaq exchange, which trades stocks exclusively through electronic means, the NYSE remained as a floor trading institution. However, after a plan to move the system to the electronic age began in October, the face of the exchange began to change.

The new operation is known as the hybrid system, which means that the building will still hold traders who are physically at the NYSE all day, but now that electronic trading is opened up, there will not be as many, as the latter is expected to dominate the buying and selling of orders.

The NYSE has continued to face pressure from the Nasdaq exchange, which has the ability to trade NYSE-listed securities and was gaining market share over the NYSE. However, the NYSE remains the top stock exchange in the world in terms of market capitalization, with over $15 trillion.