NYU Assignment: NYSE VS NASDAQ

せっかくNYにいるので、NYUでIR（本当はこっちが本業だったんだけどね。。。）の資格を取ろうと勉強中です。授業は週に一回で、結構楽ちんです。

で、本日の宿題。What is the difference between the NYSE and Nasdaq?

読んでちょんまげ。（英語だけど。。。）

The most visible difference between the NYSE and Nasdaq is the location of trade. All trades for NYSE occur at a physical trading floor. The place is located at wall street, and often times aired on CNBC. The Nasdaq, on the other hand is not located on a physical trading floor but on a telecommunications network. Tickers and symbols are an another visual difference of the stock domicile, where NYSE tickers can be 1-3 characters but Nasdaq tickers are always four. The fundamental difference between the NYSE and Nasdaq is in the way securities on the exchanges are transacted between buyers and sellers. The Nasdaq is a dealer's market versus NYSE is an auction market. At the NYSE, there are facilitators called specialists who match the highest bidding price with the lowest asking price for each trade. At the Nasdaq, there are no specialists but there are market makers who facilitates the trading of shares by posting bid and ask prices along with maintaining an inventory of shares. There are 7 specialists at the NYSE, and 300 market makers at the Nasdaq. As for a qualitative difference, Nasdaq is known as a high-tech market, attracting many of the firm attracting many of the firms dealing with the Internet or electronics. Accordingly, the stocks on this exchange are considered to be more volatile and growth oriented. On the other hand, the companies on NYSE are perceived to be more well established. Its listings includes many of the blue chip firms and industrials that were founded before or right after the NYSE opened, and its stocks are considered to be more stable and established.

わかったあ？

アメリカ人って株好きなんよね。金融業界の子じゃなくても、ふつーに「ポートフォレオに何入れてる」みたいな話題になる。小学校の時に株投資の擬似体験みたいなのもしたしね。長期保有ならNYSEだけど、短期ならNasdaq。動向みてても面白すぎる、ハイテク株。後はニッチだけどADR（もちろん日本株！）も見てて楽しいかな。やっぱり、とっても小さな資産でも株投資できるところが日本市場と米国市場の決定的な違いなのかな。