Regional stock exchange
Encyclopedia
A regional stock exchange is a term used in the United States
to describe stock exchange
s that operates outside of the country's main financial center in New York City
. A regional stock exchange operates in the trading of listed and over-the-counter
(OTC) equities under the SEC
's Unlisted Trading Privileges (UTP) rule.
Regional exchanges currently registered with the SEC include:
The Boston and Philadelphia Stock Exchanges were both acquired by NASDAQ
in 2007, and the Pacific Exchange acquired in 2006 by the New York Stock Exchange, thus ending their identities as separate stock exchanges.
There used to be many more such exchanges in the United States. Among those that have become defunct or have merged into the survivors listed above are those of Baltimore, which merged with Philadelphia in 1949; Buffalo, New York
, which closed in 1936; Cleveland
, which merged with Chicago in 1949; Colorado Springs
, which closed in 1966; Detroit
, which closed in 1976; Denver
, which closed in 1936; Hartford
, which closed in 1934; Honolulu
, which closed in 1977; Salt Lake City
, which closed in 1986; Minneapolis
-St. Paul, which merged with Chicago in 1949; Milwaukee
, which closed in 1938; Los Angeles
and San Francisco, which merged to form the Pacific Exchange in 1957; Louisville, Kentucky
, which closed in 1935; New Orleans, which merged with Chicago in 1959; Pittsburgh, which
merged with Philadelphia in 1969; Richmond, Virginia
, which closed in 1972; Seattle, which closed in 1942; St. Louis
, which merged with Chicago in 1949; Spokane, Washington
, which closed in 1991; Washington, D.C.
, which merged with Philadelphia in 1953; and Wheeling, West Virginia
, which closed in 1965.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
to describe stock exchange
Stock exchange
A stock exchange is an entity that provides services for stock brokers and traders to trade stocks, bonds, and other securities. Stock exchanges also provide facilities for issue and redemption of securities and other financial instruments, and capital events including the payment of income and...
s that operates outside of the country's main financial center in New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
. A regional stock exchange operates in the trading of listed and over-the-counter
Over-the-counter (finance)
Within the derivatives markets, many products are traded through exchanges. An exchange has the benefit of facilitating liquidity and also mitigates all credit risk concerning the default of a member of the exchange. Products traded on the exchange must be well standardised to transparent trading....
(OTC) equities under the SEC
United States Securities and Exchange Commission
The U.S. Securities and Exchange Commission is a federal agency which holds primary responsibility for enforcing the federal securities laws and regulating the securities industry, the nation's stock and options exchanges, and other electronic securities markets in the United States...
's Unlisted Trading Privileges (UTP) rule.
Regional exchanges currently registered with the SEC include:
- Boston Stock ExchangeBoston Stock ExchangeThe Boston Stock Exchange is a regional stock exchange located in Boston, Massachusetts. The third-oldest stock exchange in the United States, it was founded in 1834...
(BSE or BSX) - CBOE Stock ExchangeChicago Board Options ExchangeThe Chicago Board Options Exchange , located at 400 South LaSalle Street in Chicago, is the largest U.S. options exchange with annual trading volume that hovered around one billion contracts at the end of 2007...
(CBSX) - Chicago Stock ExchangeChicago Stock ExchangeThe Chicago Stock Exchange is a stock exchange in Chicago, Illinois, USA. The exchange is a national securities exchange and self-regulated organization, which operates under the oversight of the U.S. Securities and Exchange Commission . The Chicago Stock Exchange is the third most active stock...
(CHX) - National Stock Exchange (NSX)
- Philadelphia Stock ExchangePhiladelphia Stock ExchangePhiladelphia Stock Exchange , now known as NASDAQ OMX PHLX, is the oldest stock exchange in the United States, founded in 1790. It is now owned by NASDAQ OMX and located at 1900 Market Street, in Center City Philadelphia.-History:...
(PHLX), the nation's first stock exchange - Pacific Stock Exchange (PSE)
The Boston and Philadelphia Stock Exchanges were both acquired by NASDAQ
NASDAQ
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
in 2007, and the Pacific Exchange acquired in 2006 by the New York Stock Exchange, thus ending their identities as separate stock exchanges.
There used to be many more such exchanges in the United States. Among those that have become defunct or have merged into the survivors listed above are those of Baltimore, which merged with Philadelphia in 1949; Buffalo, New York
Buffalo, New York
Buffalo is the second most populous city in the state of New York, after New York City. Located in Western New York on the eastern shores of Lake Erie and at the head of the Niagara River across from Fort Erie, Ontario, Buffalo is the seat of Erie County and the principal city of the...
, which closed in 1936; Cleveland
Cleveland, Ohio
Cleveland is a city in the U.S. state of Ohio and is the county seat of Cuyahoga County, the most populous county in the state. The city is located in northeastern Ohio on the southern shore of Lake Erie, approximately west of the Pennsylvania border...
, which merged with Chicago in 1949; Colorado Springs
Colorado Springs, Colorado
Colorado Springs is a Home Rule Municipality that is the county seat and most populous city of El Paso County, Colorado, United States. Colorado Springs is located in South-Central Colorado, in the southern portion of the state. It is situated on Fountain Creek and is located south of the Colorado...
, which closed in 1966; Detroit
Detroit, Michigan
Detroit is the major city among the primary cultural, financial, and transportation centers in the Metro Detroit area, a region of 5.2 million people. As the seat of Wayne County, the city of Detroit is the largest city in the U.S. state of Michigan and serves as a major port on the Detroit River...
, which closed in 1976; Denver
Denver, Colorado
The City and County of Denver is the capital and the most populous city of the U.S. state of Colorado. Denver is a consolidated city-county, located in the South Platte River Valley on the western edge of the High Plains just east of the Front Range of the Rocky Mountains...
, which closed in 1936; Hartford
Hartford, Connecticut
Hartford is the capital of the U.S. state of Connecticut. The seat of Hartford County until Connecticut disbanded county government in 1960, it is the second most populous city on New England's largest river, the Connecticut River. As of the 2010 Census, Hartford's population was 124,775, making...
, which closed in 1934; Honolulu
Honolulu, Hawaii
Honolulu is the capital and the most populous city of the U.S. state of Hawaii. Honolulu is the southernmost major U.S. city. Although the name "Honolulu" refers to the urban area on the southeastern shore of the island of Oahu, the city and county government are consolidated as the City and...
, which closed in 1977; Salt Lake City
Salt Lake City, Utah
Salt Lake City is the capital and the most populous city of the U.S. state of Utah. The name of the city is often shortened to Salt Lake or SLC. With a population of 186,440 as of the 2010 Census, the city lies in the Salt Lake City metropolitan area, which has a total population of 1,124,197...
, which closed in 1986; Minneapolis
Minneapolis, Minnesota
Minneapolis , nicknamed "City of Lakes" and the "Mill City," is the county seat of Hennepin County, the largest city in the U.S. state of Minnesota, and the 48th largest in the United States...
-St. Paul, which merged with Chicago in 1949; Milwaukee
Milwaukee, Wisconsin
Milwaukee is the largest city in the U.S. state of Wisconsin, the 28th most populous city in the United States and 39th most populous region in the United States. It is the county seat of Milwaukee County and is located on the southwestern shore of Lake Michigan. According to 2010 census data, the...
, which closed in 1938; Los Angeles
Los Ángeles
Los Ángeles is the capital of the province of Biobío, in the commune of the same name, in Region VIII , in the center-south of Chile. It is located between the Laja and Biobío rivers. The population is 123,445 inhabitants...
and San Francisco, which merged to form the Pacific Exchange in 1957; Louisville, Kentucky
Louisville, Kentucky
Louisville is the largest city in the U.S. state of Kentucky, and the county seat of Jefferson County. Since 2003, the city's borders have been coterminous with those of the county because of a city-county merger. The city's population at the 2010 census was 741,096...
, which closed in 1935; New Orleans, which merged with Chicago in 1959; Pittsburgh, which
merged with Philadelphia in 1969; Richmond, Virginia
Richmond, Virginia
Richmond is the capital of the Commonwealth of Virginia, in the United States. It is an independent city and not part of any county. Richmond is the center of the Richmond Metropolitan Statistical Area and the Greater Richmond area...
, which closed in 1972; Seattle, which closed in 1942; St. Louis
St. Louis, Missouri
St. Louis is an independent city on the eastern border of Missouri, United States. With a population of 319,294, it was the 58th-largest U.S. city at the 2010 U.S. Census. The Greater St...
, which merged with Chicago in 1949; Spokane, Washington
Spokane Stock Exchange
The Spokane Stock Exchange was a regional stock exchange located in Spokane, Washington. Founded mainly to trade stock of mining companies, it began operations in 1897 and closed on May 24, 1991....
, which closed in 1991; Washington, D.C.
Washington, D.C.
Washington, D.C., formally the District of Columbia and commonly referred to as Washington, "the District", or simply D.C., is the capital of the United States. On July 16, 1790, the United States Congress approved the creation of a permanent national capital as permitted by the U.S. Constitution....
, which merged with Philadelphia in 1953; and Wheeling, West Virginia
Wheeling, West Virginia
Wheeling is a city in Ohio and Marshall counties in the U.S. state of West Virginia; it is the county seat of Ohio County. Wheeling is the principal city of the Wheeling Metropolitan Statistical Area...
, which closed in 1965.