The NYSE, a unit of Intercontinental Exchange Group Inc, debuted 25 technology initial public offerings in 2013. NASDAQ premiered 23 initial public offerings.
Seven years ago, NASDAQ debuted three-quarters of IPOs. NASDAQ trading is electronic while the NYSE trading is monitored by stock traders and market makers. The NYSE stock traders and market makers have the option of overriding automated trading systems.
The NASDAQ Stock Market lists such technology companies such as Apple, Google, and Amazon. In November 2013, the New York Stock Exchange debuted the initial public offering Twitter (TWTR).
The Twitter initial public offering, which included such underwriters as Goldman Sachs, was priced at $26 a share on the NYSE in November 2013.
Rally Software Development Corp (RALY), which supplies project management tools, Chief Financial Officer Jim Lejeal told The Wall Street Journal that he noticed the impact of stock traders during a tour of the NYSE prior to the company's listing on the NYSE in April 2013.
During a tour of the NYSE trading floor, Lejeal told The Wall Street Journal that the specialist directly addressed a halted stock. The NASDAQ disputes the role of stock traders and market makers.
The number of stock traders and market makers on the NYSE has been reduced over the years as the result of automated trading systems. The number of traders and market makers on the NYSE floor has been reduced to nearly 1,000, which is down from over 4,000.
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