In stock market terminology, the term Equity Market refers to a system for trading stocks, which represent equity or ownership in the issuing corporations. Stocks are traded in the Equity Market on centralized and non-centralized stock exchanges, as well as over the counter.
For example, the Equity Market, also called the Stock Market, in the United States is primarily made up of the New York Stock Exchange and the American Stock Exchange, which both maintain a centralized location for the trading of stocks. It also includes the Nasdaq Market, which trades stocks on a large electronic and phone network without a centralized location. Other smaller regional exchanges which participate in the U.S. Equity Market include the Chicago Stock Exchange, the Philadelphia Stock Exchange and the Boston Stock Exchange. Additional participants in the U.S. Equity Market consist of the Over-the-Counter Bulletin and the Pink Sheets, publications which list quotes for smaller and less liquid equities.