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A regional stock exchange is a term used in the United States to describe stock exchanges that operate 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.

History of regional stock exchanges

The SEC was formed in 1934, and that year, a total of 24 securities exchanges registered with the SEC, while 19 received temporary exemptions from registration. Exchanges actively trading that year included the New Orleans Stock Exchange, the Richmond Stock Exchange, the San Francisco Curb Exchange, the San Francisco Mining Exchange, and the St. Louis Stock Exchange. Ten stock exchanges closed after the SEC was created, including the Boston Curb Market, the Buffalo Stock Exchange, the Chicago Curb Exchange, the Denver Stock Market, the Hartford Stock Market, the Milwaukee Grain and Stock Exchange, the New York Mining Exchange, the New York Real Estate Securities Exchange, the Seattle Stock Exchange, and the Wheeling Stock Exchange. The New York Produce Exchange decided to stop trading in securities as well.[1]

In April 1941, eighteen regional stock exchanges received invitations to "parley" with the SEC on possible amendments[2] to the Securities Act to be presented to Congress that May. The exchange representatives attended the conference on April 28, 1941 to discuss the issue.[3]

List of regional stock exchanges

Current

Regional exchanges currently registered with the SEC include:

The Cincinnati Stock Exchange moved to Chicago and changed its name to the National Stock Exchange. It moved again to its current location in Jersey City, New Jersey.

Historical

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

See also

References

  1. ^ Markham, Jerry W. (2002), A Financial History of the United States: From Christopher Columbus to the Robber Barons (1492-1900), M.E. Sharpe, p. 205, ISBN 9780765607300, retrieved January 14, 2018
  2. ^ "SEC Calls Parley on Changes in Law". The New York Times. New York City, New York. April 19, 1941. p. 21. Retrieved January 16, 2018. The Securities and Exchange Commission sent telegrams today to the heads of eighteen regional stock exchanges asking them to send representatives to a conference here on next Friday to discuss possible amendments to the various securities laws it administers.
  3. ^ "SEC Gives Hearing to Market Groups; Regional Stock Exchanges Are Represented at Conference on Changes in Law - Congress to Get Views - Separate Reports Expected to Be Made by Commission and the Industry". The New York Times. New York City, New York. April 29, 1941. p. 27. Retrieved January 16, 2018.
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