The stock exchange based on the New York City is the New York Stock Exchange. It is the largest and highest valued stock exchange in terms of dollar with the values of the companies listed in this stock exchange. The companies that were listed in the NYSE as on October 2008 had a dollar value of about $10.1 trillion.

The New York Stock Exchange is located at 11, Wall Street and in the year 2007, it merged with the Euro next so as to make itself as a fully electronic stock exchange. In the year 1978, it was termed as a National Historic Landmark by the American government.
The NYSE is also termed as the “the Big Board” and this allows the trading the shares of the companies that are listed in the New York stock exchange between the buyers and sellers.

The New York stock exchange is open at all week days from Monday to Friday with the time limit between 9:30 am and 4:00 pm. The week ends including the government holidays is the period when the Stock exchange remains closed. All the holidays are declared well in advance by the stock exchange.

The New York stock exchange operates on the open outcry method as the traders can bid for the shares or stocks that they want. The trades are auctioned continuously and the traders can do the trading in the place of the investors. A New York Stock exchange member is the person who does the auction of the shares to the traders who surround him.

Both buying and selling is done and those who want to buy can bid for the shares and those who want to sell can fix a price for his shares and when the bid made equals the share price then he can sell his shares.

With the merger with “Euronext” almost all the stocks listed in the New York Stock exchange are traded through the electronic Hybrid Market there by enhancing fast movement of auction to take place.

But some of the high priced stocks are still not traded through the electronic Hybrid Market. Since its inception, the investors and traders have found it useful to give orders for trading and place their bid easily.

The NYSE merged with the Archipelago and thereby the seat owners became $500,000 richer and received 77,000 shares of the newly formed corporation.

Only the New York stock exchange members who own a seat in the stock exchange can make their trades directly in the stock exchange and there are only 1366 seats.

But when the New York stock exchange was started in the year 1792, all its members sat in chairs for their trade. The number of seats kept on increasing due to the growing popularity and increase in volume of trade of the stocks. Some of the members sell their seats for high amount because of it’s wanting and popularity.

In the recent years the seats have sold up till $3.25 million which will rise in the future.