If I look at the trading hours announcement of the New Stock Exchange, I see that there are seven different entities listed (NYSE, American, Arca, National and 3 options-related entities).

How are the four equity entities (NYSE, American, Arca and National) related? Are they just four different collections of stocks that are all traded by the same people, or are there actually four completely separate exchanges in different rooms with different people and different rules, or is it somewhere between these two extremes?


NYSE American Equities used to be known as the American Stock Exchange. It is a separate exchange from the NYSE.

NYSE Arca is owned by Intercontinental Exchange and is located in Chicago. It trades stocks and options.

NYSE National is an electronic exchange with a taker/maker schedule.

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