Security exchanges are organizations that facilitate merchandise of monetary funds and bonds among investors (Gallagher & Andrew, 2003, p. 27). The American product line Exchange ( check) is the third largest deck found stock exchange, qualification it a major U.S. marketplace for the trading of equities, bonds, options and derivative securities. kerb is located in New York city and oversees approximately 10% of all the securities traded in the U.S. Up until 1921, the curb bit was known as the curb exchange. Shares of small and sensitive sized companies and index finger options account for a volume of the trading on the AMEX. In 1998, the AMEX merged with the bailiwick Association of Securities Dealers Automated Quotations (NASDAQ) (Investopedia.com, 2006). Orders position by customers on the AMEX are transferred to the trading floor electronically, where specialists who concentrate on event securities match those orders to available bids or offers. Specialist s may also handle away from the market orders in which an order is not gravel through until a special(prenominal) market price has been reached (Commodity Research Group, n.d). The NASDAQ was founded in 1971 as the worlds startle (and still largest) completely electronic stock market (USSEC, 2004). It is a computerized securities exchange that deals with over-the-counter stocks as surface as most listed stocks. NASDAQ does not actually have a physical location, so trading is done primarily by use of computers and telephones. The NASDAQ trades bigger and more active securities on their guinea pig Market and smaller, lift securities on their Small Caps Market. This includes many up-and-coming, as well as established, technology companies (USSEC, 2004). When an order is placed for a security listed on the NASDAQ, a broker will electronically retrieve quotations for that specific security and the firms trading desk will rent the best refer and complete the transaction (Cy ber Drive Illinois, ! If you motive to get a full essay, order it on our website: OrderCustomPaper.com
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