What is the largest stock exchange in the world by market capitalization?

The largest stock exchange in the world by market capitalization is the New York Stock Exchange, commonly called the NYSE.

The NYSE is based in New York City’s Financial District and is nicknamed “the Big Board.” Its origins are traced to the Buttonwood Agreement, signed by brokers in 1792. Over time, it grew into the world’s most valuable listed-equity marketplace by the combined value of companies traded there.

The exchange is known for its historic trading floor and auction-based market structure, although most trading is now electronic. The NYSE became part of Intercontinental Exchange in 2013, after decades of mergers and changes in ownership.

A frequent source of confusion is Nasdaq. Nasdaq is also based in New York and often leads in trading activity or technology-company listings, but it is generally ranked behind the NYSE by the total market capitalization of companies listed on the individual exchange. Rankings can vary if analysts compare exchange groups rather than single exchanges, so the measurement basis matters.