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Ip 1 Financial Management

In: Business and Management

Submitted By cheerchik8394
Words 649
Pages 3
Amanda Mix
American Intercontinental University
November 17, 2013
IP 1

1. How are the NYSE and NASDAQ similar, if at all?
In basic structure the NYSE and the NASDAQ are similar. They are both companies that can provide the service of trading stocks. Each company is open to the public and gains profits for their shareholders. NYSE and NASDAQ are both regulated by the Securities and Exchange Commission. Within each company the trading of stocks is done by traffic controllers, and these two companies account for a huge share of trading in the United States. With the use of these stock exchange facilities it allows public companies to raise capital. 2. How are the two exchanges different from one another, if at all?
Both the NYSE and NASDAQ have differences from one another. The first major difference happens to be in their mission statements of the companies. The NYSE mission statement is as follows, “The mission of the NYSE is to add value to the capital-raising and asset management process by providing the highest-quality and most cost-effective self-regulated marketplace for the trading of financial instruments , promote confidence in and understanding of that process and serve as a forum for discussion of relevant national and international policy issues”. However the mission statement from NASDAQ is, “as the world’s largest exchange company, NASDAQ is driven to delivering multi-asset, multi-service capability across every major continent. NASDAQ provides forward thinking services and technology that have the power to drive capital formation, transform business and fuel economic growth around the world”. These two mission statements can already shed light on how each of these companies is different. The NASDAQ stresses forward thinking and technology, while the NYSE boasts value, and tradition in their mission statement. This can show what each business feels is important and what they’re selling qualities are. Besides just the mission statements which are completely different, their ways of operating are also different. The NYSE typically has a structure that is led by a specialist who facilitates the market, in the NASDAQ this effort is led by a market manager. At the NYSE the physical trading is done on a floor where stocks can be bought and sold, at NASDAQ there is only an electronic exchange. 3. What is the public company accounting and investor protection act of 2002?
The public company accounting and investor protection act of 2002 was put into effect after the major scams of corporations. In these scams many corporations would falsify their balance sheets and then destroyed evidence, even the auditors of companies participated. This act is to restore faith in the stock markets and to make consumers feel more secure. Within this act it encourages whistle blowing and even imposes criminal charges for those who retaliate against whistle blowers. In conclusion this act is very important because it oversees the good of the public by making sure companies are being honest with balances and statements. Records and their validity is secured by this law and internal controls are set in place to keep everyone honest.

In conclusion both the NYSE and NASDAQ provide the same service of trading stocks for the public. Both companies gain profits for the shareholders. However each company has their own way of trading stocks, the NYSE is more traditional in a sense that they use an actual floor as the auction spot, in comparison the NASDAQ uses all online and stays up on their technology. Stocks can be a very risky plan, but with the Public Company Accounting and Investor Protection Act of 2002 consumers can be a little more secure. This act helps keeps companies honest and even protects whistle blowers.

References
NASDAQ. http://www.nasdaq.com/
NYSE. NYSE EURONEXT. https://nyse.nyx.com/ Government Tracking. Public Company Accounting and Investor Protection Act of 2002. https://www.govtrack.us/congress/bills/107/hr5070

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