Stocks 101

Stock exchanges: B3, NYSE and Nasdaq

4 min

A stock exchange is the organized marketplace where listed shares are bought and sold. Unlike forex, the stock market is centralized: each share trades on a specific exchange with one official, continuously updated price.

The exchanges you will meet

  • B3 (Brasil, Bolsa, Balcão) — Brazil's sole stock exchange, based in São Paulo. Every Brazilian-listed company, from Petrobras to Vale to Itaú, trades here. Tickers look like PETR4, VALE3, ITUB4.
  • NYSE (New York Stock Exchange) — the largest exchange in the world by company value; home to many long-established US firms. Tickers are letters, e.g. KO (Coca-Cola), JPM (JPMorgan).
  • Nasdaq — the other big US exchange, historically favoured by technology companies: AAPL (Apple), MSFT (Microsoft), NVDA (Nvidia).

What an exchange actually does

An exchange is not a building full of shouting traders anymore — it is mostly software. Its jobs are to:

  • Match buyers with sellers fairly and in order.
  • Publish prices in real time so everyone sees the same market.
  • Enforce listing rules — companies must report results and follow governance standards to stay listed.
  • Coordinate settlement so shares and cash actually change hands (covered later in this track).

Trading hours

Each exchange has set hours. B3's regular session runs on Brazil business days (roughly 10:00 to 17:00 local time, with auctions at the edges). US markets run 9:30 to 16:00 Eastern time. Outside those hours your order simply waits — there is no 24-hour trading like forex.

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Risk disclaimer

This content is for educational and informational purposes only and is not investment, financial, tax or legal advice. Trading and investing carry risk, including the possible loss of capital. Any performance shown by third-party tools is hypothetical and not a promise of future results. Do your own research and consider professional advice before making any decision.