<p>The New York Stock Exchange (NYSE) is the world's largest stock exchange, located at the heart of Wall Street in New York City. It facilitates the trading of stocks, bonds, and other securities.</p>

<h2>How It Works</h2>
<p>The NYSE operates as an auction market, where traders buy and sell securities through brokers. Here's a simplified breakdown:</p>
<ul>
  <li><strong>Listed Companies:</strong> Companies apply to list their stocks on the NYSE, meeting certain financial and legal requirements.</li>
  <li><strong>Trading Floor:</strong> Traders, or "specialists," oversee the trading of each listed stock. They maintain fair and orderly markets, ensuring there are enough buyers and sellers.</li>
  <li><strong>Trading Hours:</strong> The NYSE is open for trading from 9:30 a.m. to 4 p.m. Eastern Time, Monday through Friday.</li>
</ul>
<p>Trades can also be made electronically through designated market makers and electronic limit order books.</p>

<h2>Why It Matters</h2>
<p>The NYSE plays a crucial role in the global economy. It provides a platform for companies to raise capital, and investors to buy and sell securities. Its performance can influence market sentiment and economic indicators. For instance, during the 2008 financial crisis, the NYSE's closure due to Hurricane Sandy highlighted its significance and the need for business continuity planning.</p>