Why The Bourses Are Spooked

Electronic rivals gain on the Big Board and NASDAQ

Once upon a time, the New York Stock Exchange traded big-company stocks on a central trading floor at its marble-colonnaded building overlooking Wall Street. Its rival, the NASDAQ stock market, traded small-company shares through an electronic dealer network. Until a few years ago, the two exchanges were happy within their distinct market structures, each of which thrived because they satisfied the capital-raising needs of different corporations.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.