Stacey Cunningham, the chief operating officer at NYSE Group, acknowledges that the marketing is important, but says there’s more to it than that.
Myomo CEO Paul Gudonis said the humans on the trading floor at NYSE, the designated market makers (DMM), are very much part of the reason his company listed on NYSE.
When the market closes, however, nearly all trading returns to the exchange that lists the particular stock.
The reason the closing auction is so important is because it determines the day’s official final price, and many asset managers are gauged against it.
The exchange is the top global destination for public offerings this year—companies from around the world raised $22.2 billion there via IPOs in the year to August, about double second-place Shanghai, according to Dealogic.