Which Stock Exchange Are You?

The grandfather of stock exchanges in the US was formed in the 1800s. This fast-paced auction-based exchange features floor sellers who are experts in every kind of stock. This is the most traditional and prestigious of all the US exchanges. Just like the NYSE, you prefer to do things old-school, and you take your time diving into new technologies and methods for doing things. You are also sophisticated and well mannered. You fit well with the NYSE!

AMEX is the second oldest American stock exchange. It was recently purchased by NYSE. AMEX is also an auction-based exchange, but it is a much smaller firm. AMEX was a pioneer in exchange-traded funds (ETF), which are index assets that are traded like stocks. Just like AMEX, you are a little more reserved in your circle of friends, but you are willing to try things a little differently than tradition dictates. You still love the old ways, but you aren't afraid of trying something new.

The NASDAQ is an electronic exchange, so instead of yelling on a stock-market floor, traders communicate by computer or phone to exchange stocks. NASDAQ's membership requirements are a bit less restrictive, allowing more companies and more shares to be traded. Just like the NASDAQ, you are a techie. You prefer communicating via your computer rather than face to face. You are also willing to give most people a chance. You are very forward thinking.

An Electronic Communications Network (ECN) is a trading system that trades directly with NASDAQ without the use of brokers. Buyers and sellers trade directly, reducing transaction costs. Like the ECN, you are a direct kind of person. You cut out the middleman whenever possible. You hate waste, and you hate taking the long route. You are serious about getting things done, and you are totally a DIY kind of person!

These NASDAQ delisters can be traded with very few fees. The Bulletin Board market is an electronic community where there are no minimums required to list, and many of them have fewer than 300 shareholders, so they are not subject to SEC registration. Like the OTC, you like to keep things on the down low and stay under the radar as much as possible. Maybe you were shunned from the 'it' group, or maybe you never wanted to be a part of it in the first place. Either way, you are out there on your own, and you like it that way!