From the Sunday edition of The Record, a interesting article focusing on the move of “Wall Street” to New Jersey. The vast majority of US equity order matching actually goes on somewhere in NJ, regardless of where the exchange itself is officially incorporated. If it wasn’t for the relatively small bit of trading that happens on the NYSE floor on Broad Street in Manhattan, it would be safe to say all US equity trading happens in NJ:
“NYSE is looking to move the epicenter of U.S. capital markets from Broad Street to Mahwah,” said Kevin McPartland, a senior analyst with the Tabb Group, a New York consulting and researching firm. McPartland estimates 8.5 billion shares are traded on U.S. equity markets every day.