3 minutes a day,

Help you make money in the US stock market!

Hello everyone, I'm a representative of the Niu Niu Course!

Today is the course series “20 Lectures on US Stock Investment”

Second lecture “Entering the Three Major US Stock Exchanges”

Friends of the cows quickly move the little benches, let's go to class together~

Over the past ten years, US stocks have experienced a very long bull market. Along with the dividends of global monetary easing and technological progress, a large number of US stocks have emerged tenfold. Among them, many technology companies have performed particularly well and contributed significant strength.

It is worth noting that recently, the market capitalization of the three technology stocks Apple, Amazon, and Microsoft accounted for 20% of the S&P 500 index and more than one-third of the Nasdaq 100 index. Their total value is about 5 trillion US dollars, which exceeds the total value of the entire German economy.

Behind the majestic US stock market, the three exchanges in the US stock market play an important supporting role. They are the New York Stock Exchange, the Nasdaq Exchange, and the US Stock Exchange.

Today's lesson will begin with the history of these three exchanges and explain their development history and current transformation choices.

1. New York Stock Exchange (NYSE for short)

The origins of the New York Stock Exchange can be traced back to May 17, 1792, when 24 securities brokers signed the “Sycamore Tree Agreement” under a sycamore tree outside 68 Wall Street in New York.

The first headquarters of the New York Stock Exchange was in 1817, for a $200 monthly rent, located in a room at 40 Wall Street.

Shortly after the outbreak of World War I (July 1914), the NYSE was forced to close. However, it reopened in November, and various bonds were freely traded to support the war.

On June 1, 2006, the New York Stock Exchange merged with Euronext to form the New York-Euronext Stock Exchange (NYSE Euronext). In 2013, the New York-Euronext Stock Exchange was$Intercontinental Exchange (ICE.US) $The group was acquired and approved by the competent authority. Since then, the New York-Eurasian Stock Exchange has ceased operations and ceased to exist; it has been almost six years since it opened until it closed. The New York Stock Exchange and Euronext continue to operate as subsidiaries of the Intercontinental Exchange Group.

On June 22 of this year, the NYSE submitted a revised IPO listing rule to the US Securities and Exchange Commission (SEC), hoping that while the company is directly listed, it can directly finance investors.

According to media reports, this move will change the current IPO market. In the past, in IPOs, investment banks were first used as underwriters to finance the sale of shares, and companies were not allowed to sell stocks directly to investors for financing.

As of June 22, a total of 1,956 listed companies were listed on the NYSE, with a total market value of 26.9 trillion US dollars (approximately RMB 190 trillion). China Securities stocks listed on the NYSE include Alibaba, China Telecom, China Mobile, CNPC, Who to Learn from, and New Oriental.

2. Nasdaq Stock Exchange (Nasdaq for short)

The Nasdaq Stock Exchange is an electronic stock exchange in the United States. It was founded in 1971 and is now the second largest stock exchange in the world.

In 1971, Nasdaq was founded by the National Association of Securities Dealers. Nasdaq was spun off from a series of transactions in 2000 and 2001 to establish Nasdaq.

Currently owned and operated by the NASDAQ OMX Group, its shares were listed on its stock exchange on July 2, 2002 under the stock code NASDAQ:$Nasdaq OMX Exchange (NDAQ.US) $.

In 2006, NASDAQ was approved by the SEC to officially become a US stock exchange.

The following year, NASDAQ acquired the Nordic Exchange Group to establish the NASDAQ OMX Group. The Boston Stock Exchange and the Philadelphia Stock Exchange were then acquired in 2007 and 2008, respectively.

Nasdaq divides the stock market into the following three levels based on criteria such as net profit, total assets, and market value. The purpose is to further optimize the market structure and attract companies at different levels to go public:

• 1. Nasdaq Global Select Markets (NASDAQ-GS)

The standards of the Nasdaq Global Select Market are higher in terms of financial and liquidity than any other market in the world. Inclusion in the Nasdaq Select Market is a reflection of the achievements and identity of a quality company.

• 2. Nasdaq Global Market

As Nasdaq's largest and most actively traded stock market, nearly 4,400 stocks are listed. Companies listed on the Nasdaq national market must meet strict financial, capital, and co-management indicators. There are some of the world's largest and most well-known companies in the Nasdaq global marketplace.

• 3. Nasdaq Capital Market

Nasdaq is a market exclusively for growing companies, with more than 1,700 stocks listed. As the NASDAQ listing standard for small capital amounts, the financial index requirements are not as strict as the global market listing standards, but the standards they jointly manage are the same.

The opening price of the listing must remain above $4 for 90 days, and must not be lower than $1 thereafter. Otherwise, it will be downgraded to over-the-counter trading. Conversely, if the company is doing well and the stock price rises above $5, you can apply for trading in the global market.

Additionally, Nasdaq Stock Exchange President Nelson Griggs (Nelson Griggs) sees Nasdaq as the birthplace of innovation, and believes that:

As the world shifts more to the information age and technology-driven development, many companies that seem to belong to traditional industries now choose to go public on the Nasdaq “because we are seen as synonymous with innovation.”

Nasdaq focuses on potential companies of any size in the business development cycle and is committed to reaching long-term partnerships with companies.

Most of the Chinese securities listed on the Nasdaq are familiar to everyone, such as Sina, Sohu, NetEase, Baidu, Ctrip, Futu Holdings Ltd., etc.

3. American Stock Exchange (AMEX for short)

The US Stock Exchange, “ASE” or “AMEX” for short, is the second largest stock exchange and third largest stock exchange in the US, after the New York Stock Exchange and the Nasdaq OTC stock exchange market.

The American Stock Exchange is the only exchange that can trade stocks, options, and derivatives at the same time. It is also the only exchange that focuses on small to medium capitalization companies that are easily overlooked and provides them with a range of services to increase their attention.

Originally, the US stock exchange mainly traded small to medium capitalization stocks. In recent years, it has made great achievements in trading financial derivatives and ETFs, and its position is becoming increasingly important.

What are the China Securities Stocks listed here$Ambo Education (AMBO.US) $,$Dunxin Financial (DXF.US) $etc.

It is worth mentioning that in October 2008, the New York-Euronext Group completed the acquisition of AMEX with shares of 260 million US dollars.

The three major US deals have gradually developed in their respective eras, and have different characteristics and temperaments.

Overall, due to differences in IPO systems, companies listed on the NYSE are usually companies with a long history, huge scale, and stable development, such as Alibaba, Coca Cola, and IBM; while rapidly developing technology stocks prefer the Nasdaq exchange, such as the big four tech giants: Facebook, Apple, Google, and Amazon; in contrast, companies listed on the American Stock Exchange are generally small in size.

Today's extended minor questions:

Let's talk about the difference between NYSE and NASDAQ?

Everyone is welcome to interact in the message area!

The class representative will select 8 Niu friends with high participation in the discussion forum and send 188 Futubull points!

Tips: Prefer to choose to be able to proactively put forward course-related feasibility suggestions,

Or cow friends who can participate in the after-school discussion!

Tomorrow is a practical class!

The third lecture “Beginner's Guide to US Stock Trading” is waiting for you!

See you soon!!

Course link attached:“20 Lectures on US Stock Investment”