Editing Nasdaq (section)

==Difference between NYSE and Nasdaq==
After the NYSE, Nasdaq is the second largest stock exchange in the United States with a market capitalization of $19 trillion, which is about $5.5 trillion less than the NYSE as of 2021.<ref>{{Cite web|title=The New York Stock Exchange (NYSE)|url=https://www.forbes.com/advisor/investing/nyse-new-york-stock-exchange/|access-date=2023-12-07|work=www.forbes.com|archive-date=April 9, 2021|archive-url=https://web.archive.org/web/20210409150456/https://www.forbes.com/advisor/investing/nyse-new-york-stock-exchange/|url-status=live}}</ref><ref>{{Cite web|title=10 Largest Stock Exchanges in the World|url=https://www.analyticssteps.com/blogs/10-largest-stock-exchanges-world|access-date=2023-12-07|work=www.analyticssteps.com|archive-date=March 4, 2024|archive-url=https://web.archive.org/web/20240304222510/https://www.analyticssteps.com/blogs/10-largest-stock-exchanges-world|url-status=live}}</ref><ref>{{Cite web|title=Getting to Know the Stock Exchanges|url=https://www.investopedia.com/articles/basics/04/092404.asp|access-date=2023-12-07|work=www.investopedia.com|archive-date=February 21, 2024|archive-url=https://web.archive.org/web/20240221233923/https://www.investopedia.com/articles/basics/04/092404.asp|url-status=live}}</ref> Nasdaq is a much younger organization than the NYSE, having been founded in just 1971.<ref>{{Cite web|title=The NYSE and Nasdaq: How They Work|url=https://www.investopedia.com/articles/basics/03/103103.asp|access-date=2023-12-07|work=www.investopedia.com|archive-date=February 19, 2024|archive-url=https://web.archive.org/web/20240219175901/https://www.investopedia.com/articles/basics/03/103103.asp|url-status=live}}</ref><ref>{{Cite web|title=The history of Nasdaq from creation in 1971 to the present|url=https://capital.com/the-history-of-nasdaq-from-creation-in-1971-to-the-present|access-date=2023-12-07|work=capital.com}}</ref> In addition to age and market capitalization, there are other key differences between the two exchanges:
*Exchange systems. Before the [[COVID-19 pandemic]], the NYSE maintained both an electronic trading system and a trading floor system staffed by live professionals who help conduct auctions.<ref>{{Cite web|title=The History of NYSE|url=https://www.nyse.com/history-of-nyse|access-date=2023-12-07|work=www.nyse.com|archive-date=January 29, 2024|archive-url=https://web.archive.org/web/20240129135305/https://www.nyse.com/history-of-nyse|url-status=live}}</ref><ref>{{Cite web|title=What Is The NYSE?|url=https://www.wallstrank.com/learn/what-is-the-nyse|access-date=2023-12-07|work=www.wallstrank.com|archive-date=December 7, 2023|archive-url=https://web.archive.org/web/20231207204029/https://www.wallstrank.com/learn/what-is-the-nyse|url-status=live}}</ref> Nasdaq has been an all-electronic exchange since its inception.
*Market Types. The NYSE uses an auction market to set prices, while Nasdaq uses a dealer market.<ref>{{Cite web|title=NYSE: What Is The New York Stock Exchange?|url=https://www.nasdaq.com/articles/nyse%3A-what-is-the-new-york-stock-exchange-2021-04-09|access-date=2023-12-07|work=www.nasdaq.com|archive-date=January 17, 2024|archive-url=https://web.archive.org/web/20240117043249/https://www.nasdaq.com/articles/nyse%3A-what-is-the-new-york-stock-exchange-2021-04-09|url-status=live}}</ref><ref>{{Cite web|title=New York Stock Exchange (NYSE): Definition, How It Works, History|url=https://www.investopedia.com/terms/n/nyse.asp|access-date=2023-12-07|work=www.investopedia.com|archive-date=February 12, 2024|archive-url=https://web.archive.org/web/20240212014126/https://www.investopedia.com/terms/n/nyse.asp|url-status=live}}</ref> In the NYSE auction market, buyers and sellers submit competitive bids simultaneously. When the buyer's bid and the seller's request match, a transaction occurs. In the Nasdaq dealer market model, all prices are set by dealers. Dealers continually update bid (sell) and ask (buy) prices throughout the trading day.
*Listing fees. There is a big difference in listing fees on the major stock exchanges. Listing fees on the Nasdaq range from $55,000 to $80,000 for the lowest tier of the capital market.<ref>{{Cite web|title=What is NASDAQ?|url=https://www.businessnewsdaily.com/3403-nasdaq.html|access-date=2023-12-07|work=www.businessnewsdaily.com|archive-date=March 11, 2018|archive-url=https://web.archive.org/web/20180311081215/https://www.businessnewsdaily.com/3403-nasdaq.html|url-status=live}}</ref><ref>{{Cite web|title=How to buy American shares (2023)? - Investing on USA stock exchange|url=https://trading.info/american-shares/|access-date=2023-12-07|work=trading.info|archive-date=March 4, 2024|archive-url=https://web.archive.org/web/20240304205719/https://trading.info/american-shares/|url-status=live}}</ref> The NYSE is significantly more expensive, with the lowest listing fee of $150,000.
*Sectors. Investors typically view the NYSE as an exchange for older, more established companies.<ref>{{Cite web|title=Nyse Vs Nasdaq: Whats The Difference|url=https://www.newyorkdaily.net/how-to-invest-in-new-york-stock-exchange/|access-date=2023-12-07|work=www.newyorkdaily.net|date=July 6, 2022 |archive-date=February 21, 2024|archive-url=https://web.archive.org/web/20240221044553/https://www.newyorkdaily.net/how-to-invest-in-new-york-stock-exchange/|url-status=live}}</ref> Nasdaq tends to be home to newer companies focused on technology and innovation, so some investors consider Nasdaq listings to be riskier.<ref>{{Cite web|title=Nasdaq 100 forecast: The US100 rebounds ahead of Fed meeting in December|url=https://capital.com/nasdaq-100-forecast|access-date=2023-12-07|work=capital.com}}</ref>