New York Stock Exchange

The New York Stock Exchange, is the world’s largest exchange by dollar volume. It trades in a continuous auction format, and each stock has a specific area on the trading floor. The broker, dressed in the famous colorful smock, is an employee of the listed firm and acts as the auctioneer; bringing buyers and sellers together.

The NYSE has 1366 seats, which are highly sought after. The most expensive seat was sold in 1929 for $625,000, which is over $6 million in today’s money. Prices shot up to $3.35 million in 2005 when the exchange merged with the Archipelago exchange, and became a publicly traded company.