An offline N.Y.S.E. barely made a ripple in a day’s trading a few weeks ago.
Moreover, industry research indicates that confidence in the US Equity Market Structure is at a 5-year high, with 64% of the respondents having “High/Very High” confidence and 18% responding “Neutral.”
In years past, a shutdown like that might have stopped Wall Street dead in its tracks, with a broad range of companies’ shares sitting frozen until all technical problems were unwound.
But as the lengthy stoppage showed, the modern world of stock trading is much quicker, more complex and reliant on sophisticated computers — and in many cases able to adapt to issues that could have proved disastrous to the financial markets and the investors’ holdings.
To put it in perspective, NYSE-listed (Tape A) stocks account for approximately 53% of US National Market System (NMS) stock volume.
Below are industry and Tape A market share metrics for Self-Regulatory Organizations (SROs) for the first six months of 2015. NYSE accounts for 23.2% of NYSE-listed stocks and 12.3% of overall equity volume.
via Tabb Forum.