I am using TAQ data to see from which exchanges bids (or asks) are coming.

I have got this for AAPL (Apple company, listed in NASDAQ) for a sample day:

  A       B       J       K       M       P       T       X       Y       Z 
11254  182724  235512  677745    250  1122911  948659  122697  334436  835227 

I have got this for IBM (listed in NYSE):

  B     J     K      M     N     P     T     X     Y     Z 
45374 29513 13930    73  38834 70716 87207 21052 49831 45161 

# A - NYSE MKT Stock Exchange 
# B - NASDAQ OMX BX Stock Exchange 
# C - National Stock Exchange 
# D - FINRA 
# I - International Securities Exchange 
# J - Direct Edge A Stock Exchange 
# K - Direct Edge X Stock Exchange 
#  M - Chicago Stock Exchange 
#  N - New York Stock Exchange 
#  T - NASDAQ OMX Stock Exchange 
#  P - NYSE Arca SM 
#  S - Consolidated Tape System 
#  T/Q - NASDAQ Stock Exchange 
#  W - CBOE Stock Exchange 
#  X - NASDAQ OMX PSX Stock Exchange 
#  Y - BATS Y-Exchange 
#  Z - BATS Exchange

There is no symbol N:New York Stock Exchangefor Apple or any NASDAQ-listed company. Can't people trade NASDAQ listed at NYSE?


1 Answer 1


There's a very simple explanation.

The NYSE trading floor only deals in NYSE-listed stocks. NYSE have other venues (such as Arca) that allow you to trade listings from other exchanges.

The following site has a very good summary of "tape" versus the volume traded at each venue. https://www.batstrading.com/market_summary/

Note that Tape B contains trades for listings on NYSE Mkt (formerly AMEX), NYSE Arca and listings from any other exchange.

In your example, AAPL is a NASDAQ listing. It typically does around 16% of its volume on NASDAQ and the rest across other exchanges/ECNs.

By contrast GE is a NYSE listing and 32% of its volume is traded on NYSE.


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