全球四大证券交易所分别为：纽约证券交易所、纳斯达克证券交易所、伦敦证券交易所和东京证券交易所。纽约证券交易所（New York Stock Exchange，NYSE）是世界上第二大证券交易所，它曾是最大的交易所，直到1996年它的交易量被纳斯达克证券交易所（National Association of Securities Dealers Automated Quotation，NASDAQ）超过。下面根据Investopedia的解释来了解一下二者的主要区别：

1. 地点不同

While the NYSE still retains a physical trading floor on Wall Street in New York City, a significant portion of trade flows through its data center in Mahwah, New Jersey.

纽交所的实体交易大厅位于美国纽约市华尔街，大部分交易则在新泽西州莫瓦市的数据中心进行。

The NASDAQ, on the other hand, does not have a physical trading floor. At both data centers, trading takes place directly between investors, seeking to buy or sell, and market makers, through an elaborate system of companies electronically connected to one another.

纳斯达克交易所并未设立实体交易大厅。投资人（寻求买卖方）和做市商在两个数据中心直接进行电子交易。

2. 上市成本不同

Companies that list on the NYSE are perceived as more stable and well-established. The NYSE draws blue chips and industrials, some of which have been in business for generations.

在纽交所上市的公司大都发展稳定、体系成熟。纽交所吸引的是蓝筹股和工业股，其中一部分在某一行业长期处于重要支配地位。

To list on the NYSE, companies should be prepared to pay $150,000 minimum and $295,000 maximum. The NYSE charges a $25,000 application fee, a $50,000 one-time fee and $0.004 per share to list. The most a company will pay is $295,000. Annual fees are calculated on a per share basis. Companies must pay $0.00113 per share or $71,000 annually, whichever is greater.

在纽交所上市，公司需最低缴纳150,000美元，最高缴纳295,000美元。纽交所会收取申请费25,000美元，一次性手续费50,000美元，每股挂牌上市需缴纳0.004美元。公司最多需缴纳295,000美元。年费按每股计算。公司每年每股必须缴纳0.00113美元，或缴纳71,000美元，以较高者为准。

The Nasdaq is known for technology and innovation, and is home to internet, biotechnology and other companies at the cutting edge. As such, stocks listed on the Nasdaq are considered growth-oriented and more volatile.

纳斯达克交易所以科技和创新闻名，是互联网公司、生物科技公司及其他前沿科技公司的大本营。因此，在纳斯达克交易所挂牌上市的股票具有良好的成长性且波动较大。

The Nasdaq Stock Market has three tiers: the Nasdaq Global Select Market, Nasdaq Global Market and Nasdaq Capital Market. Of these, the Nasdaq Capital Market has the lowest entry requirements. The initial fee to list is $55,000 to $80,000, depending on how many shares the company intends to issue. After that, companies must pay $43,000 to $77,000 annually. Fees for the Nasdaq Global Select Market and Nasdaq Global Market are set higher. Entry fees run between $175,000 and $320,000, after which companies must pay $46,000 to $159,000 annually.

纳斯达克股票市场有三个层次：纳斯达克全球精选市场、纳斯达克全球市场和纳斯达克资本市场。其中，纳斯达克全球市场对上市公司的要求最低。首次上市费用为55,000美元至80,000美元，视公司拟发行股份数量而定。之后，公司每年需缴纳43,000美元至77,000美元。纳斯达克全球精选市场和纳斯达克全球市场的费用较高。首次上市费用为175,000美元至320,000美元，之后，公司每年需缴纳46,000美元至159,000美元。