A regional stock exchange is a term used in the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territorie ...

to describe

stock exchange A stock exchange, securities exchange, or bourse is an exchange where stockbrokers and traders can buy and sell securities, such as shares of stock, bonds and other financial instruments. Stock exchanges may also provide facilities for th ...

s that operate outside of the country's main financial center in

New York City New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...

. A regional stock exchange operates in the trading of listed and

over-the-counter Over-the-counter (OTC) drugs are medicines sold directly to a consumer without a requirement for a prescription from a healthcare professional, as opposed to prescription drugs, which may be supplied only to consumers possessing a valid prescr ...

(OTC)

equities In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ...

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 New Orleans Stock Exchange, or the New-Orleans Stock Exchange, was a regional stock exchange based in New Orleans, Louisiana. As early as 1880, the exchange's sales of stock reached a reported total of $7,891,300. The exchange moved into a ne ...

, the Richmond Stock Exchange, the

San Francisco Curb Exchange The San Francisco Curb Exchange was a curb exchange opened in 1928, formed out of a re-organization of the San Francisco Stock and Bond Exchange and the San Francisco Mining Exchange. The San Francisco Curb Exchange replaced the Mining Exchange at ...

, the

San Francisco Mining Exchange The San Francisco Mining Exchange was a regional stock exchange in San Francisco that operated from 1862 until its closure in 1967. Formed in 1862 to facilitate the trading of mining stocks as the San Francisco Stock Exchange, the ''Chicago Tri ...

, and the

St. Louis Stock Exchange The St. Louis Stock Exchange was a regional stock exchange located in St. Louis, Missouri. Opened in 1899, in September 1949, the St. Louis Stock Exchange was acquired by the Chicago Stock Exchange, and renamed the Midwest Stock Exchange. Histo ...

. Ten stock exchanges closed after the SEC was created, including the

Boston Curb Market Boston (), officially the City of Boston, is the capital city, state capital and List of municipalities in Massachusetts, most populous city of the Commonwealth (U.S. state), Commonwealth of Massachusetts, as well as the cultural and financ ...

, the

Buffalo Stock Exchange Buffalo most commonly refers to: * Bubalina, including most "Old World" buffalo, such as water buffalo * Bison, including the American buffalo * Buffalo, New York Buffalo or buffaloes may also refer to: Animals * Bubalina, a subtribe of the tr ...

, the

Chicago Curb Exchange The Chicago Curb Exchange was an organized securities market and curb exchange located in Chicago, Illinois. It was alternately known as the Chicago Market. History Founding and early activity The Chicago Curb Exchange was incorporated in 1927. ...

, the

Denver Stock Market Denver () is a List of municipalities in Colorado#Consolidated city and county, consolidated city and county, the List of capitals in the United States#State capital, capital, and List of municipalities in Colorado#, most populous city of th ...

, the Hartford Stock Market, the

Milwaukee Grain and Stock Exchange Milwaukee ( ), officially the City of Milwaukee, is both the most populous and most densely populated city in the U.S. state of Wisconsin and the county seat of Milwaukee County, Wisconsin, Milwaukee County. With a population of 577,222 at th ...

, the

New York Mining Exchange New is an adjective referring to something recently made, discovered, or created. New or NEW may refer to: Music * New, singer of K-pop group The Boyz Albums and EPs * ''New'' (album), by Paul McCartney, 2013 * ''New'' (EP), by Regurgitator, ...

, the New York Real Estate Securities Exchange, the

Seattle Stock Exchange The Seattle Stock Exchange was a regional stock exchange in the northwest United States, located in Seattle, Washington. It began operations on March 14, 1927, merged with the Seattle Curb and Mining Exchange on October 1, 1935, and closed on Oc ...

, and the

Wheeling Stock Exchange Wheeling can refer to: Places in the United States of America *Wheeling, Illinois *Wheeling, Carroll County, Indiana *Wheeling, Delaware County, Indiana * Wheeling, Gibson County, Indiana *Wheeling, a populated place in Winn Parish, Louisiana where ...

. The New York Produce Exchange decided to stop trading in securities as well. In April 1941, eighteen regional stock exchanges received invitations to "parley" with the SEC on possible amendments to the

Securities Act The Securities Act of 1933, also known as the 1933 Act, the Securities Act, the Truth in Securities Act, the Federal Securities Act, and the '33 Act, was enacted by the United States Congress on May 27, 1933, during the Great Depression and after ...

to be presented to Congress that May. The exchange representatives attended the conference on April 28, 1941 to discuss the issue.

List of regional stock exchanges

Current

Regional exchanges currently registered with the SEC include: *

Boston Stock Exchange The Boston Stock Exchange (now NASDAQ BX, formerly ''BSE'') is a regional stock exchange located in Boston, Massachusetts. It was founded in 1834, making it the third-oldest stock exchange in the United States. On October 2, 2007, NASDAQ agreed t ...

(BSE or BSX), acquired by NASDAQ in 2007 * Chicago Board Options Exchange (CBSX) *

Chicago Stock Exchange NYSE Chicago, formerly known as the Chicago Stock Exchange (CHX), is a stock exchange in Chicago, Illinois, US. The exchange is a national securities exchange and self-regulatory organization, which operates under the oversight of the U.S. Sec ...

(CHX), acquired by NYSE in 2019 * National Stock Exchange (NSX), acquired by NYSE in 2017 * Pacific Stock Exchange (PSE), acquired by NYSE in 2006 * Philadelphia Stock Exchange (PHLX), the nation's first stock exchange, acquired by NASDAQ in 2007 The

Cincinnati Cincinnati ( ) is a city in the U.S. state of Ohio and the county seat of Hamilton County. Settled in 1788, the city is located at the northern side of the confluence of the Licking and Ohio rivers, the latter of which marks the state line wit ...

Stock Exchange moved to

Chicago (''City in a Garden''); I Will , image_map = , map_caption = Interactive Map of Chicago , coordinates = , coordinates_footnotes = , subdivision_type = Country , subdivision_name ...

and changed its name to the National Stock Exchange. It moved again to its current location in

Jersey City Jersey City is the second-most populous city in the U.S. state of New Jersey, after Newark.Baltimore Baltimore ( , locally: or ) is the List of municipalities in Maryland, most populous city in the U.S. state of Maryland, fourth most populous city in the Mid-Atlantic (United States), Mid-Atlantic, and List of United States cities by popula ...

, which merged with Philadelphia in 1949 (

Baltimore Stock Exchange The Baltimore Stock Exchange was a regional stock exchange based in Baltimore, Maryland. Opened prior to 1881, The exchange's building was destroyed by the Great Baltimore Fire of 1904, and was then located at 210 East Redwood Street in Baltimore ...

) *

Buffalo, New York Buffalo is the second-largest city in the U.S. state of New York (behind only New York City) and the seat of Erie County. It is at the eastern end of Lake Erie, at the head of the Niagara River, and is across the Canadian border from South ...

, which closed in 1936 (

) *

Cleveland Cleveland ( ), officially the City of Cleveland, is a city in the U.S. state of Ohio and the county seat of Cuyahoga County. Located in the northeastern part of the state, it is situated along the southern shore of Lake Erie, across the U.S. ...

, which merged with Chicago in 1949 (

Cleveland Stock Exchange The Cleveland Stock Exchange was a stock exchange in Cleveland, Ohio, U.S. History The Cleveland Stock Exchange was established in 1899, and began operations on April 16, 1900 at the Williamson Building (today the location of the 200 Public Squar ...

) * Colorado Springs, which closed in 1966 (

Colorado Springs Stock Exchange The Colorado Springs Stock Exchange was a regional stock exchange located in Colorado Springs, Colorado Colorado Springs is a home rule municipality in, and the county seat of, El Paso County, Colorado, United States. It is the largest city ...

) *

Denver Denver () is a consolidated city and county, the capital, and most populous city of the U.S. state of Colorado. Its population was 715,522 at the 2020 census, a 19.22% increase since 2010. It is the 19th-most populous city in the Unit ...

, which closed in 1936 (

Denver Stock Exchange Denver () is a List of municipalities in Colorado#Consolidated city and county, consolidated city and county, the List of capitals in the United States#State capital, capital, and List of municipalities in Colorado#, most populous city of th ...

) *

Detroit Detroit ( , ; , ) is the largest city in the U.S. state of Michigan. It is also the largest U.S. city on the United States–Canada border, and the seat of government of Wayne County. The City of Detroit had a population of 639,111 at th ...

, which closed in 1976 ( Detroit Stock Exchange) * Hartford, which closed in 1934 (

Hartford Stock Exchange Hartford is the capital city of the U.S. state of Connecticut. It was the seat of Hartford County until Connecticut disbanded county government in 1960. It is the core city in the Greater Hartford metropolitan area. Census estimates since the ...

) *

Honolulu Honolulu (; ) is the capital and largest city of the U.S. state of Hawaii, which is in the Pacific Ocean. It is an unincorporated county seat of the consolidated City and County of Honolulu, situated along the southeast coast of the island ...

, which closed in 1977 ( Honolulu Stock Exchange) *

Los Angeles Los Angeles ( ; es, Los Ángeles, link=no , ), often referred to by its initials L.A., is the largest city in the state of California and the second most populous city in the United States after New York City, as well as one of the world' ...

and

San Francisco San Francisco (; Spanish language, Spanish for "Francis of Assisi, Saint Francis"), officially the City and County of San Francisco, is the commercial, financial, and cultural center of Northern California. The city proper is the List of Ca ...

, which merged to form the Pacific Exchange in 1957 *

Louisville, Kentucky Louisville ( , , ) is the largest city in the Commonwealth of Kentucky and the 28th most-populous city in the United States. Louisville is the historical seat and, since 2003, the nominal seat of Jefferson County, on the Indiana border ...

, which closed in 1935 (

Louisville Stock Exchange Louisville ( , , ) is the List of cities in Kentucky, largest city in the Kentucky, Commonwealth of Kentucky and the list of United States cities by population, 28th most-populous city in the United States. Louisville is the historical coun ...

) *

Milwaukee Milwaukee ( ), officially the City of Milwaukee, is both the most populous and most densely populated city in the U.S. state of Wisconsin and the county seat of Milwaukee County. With a population of 577,222 at the 2020 census, Milwaukee is ...

, which closed in 1938 ( Milwaukee Stock Exchange) *

Minneapolis Minneapolis () is the largest city in Minnesota, United States, and the county seat of Hennepin County. The city is abundant in water, with thirteen lakes, wetlands, the Mississippi River, creeks and waterfalls. Minneapolis has its origins ...

- St. Paul, which merged with

Chicago (''City in a Garden''); I Will , image_map = , map_caption = Interactive Map of Chicago , coordinates = , coordinates_footnotes = , subdivision_type = Country , subdivision_name ...

in 1949 (

Minneapolis-St. Paul Stock Exchange The Minneapolis-St. Paul Stock Exchange was a regional stock exchange based in Minnesota, United States. It opened for business in 1929, and merged with the Chicago Stock Exchange in 1949. History The new Minneapolis-St. Paul Stock Exchange open ...

) *

New Orleans New Orleans ( , ,New Orleans
Merriam-Webster. ; french: La Nouvelle-Orléans , es, Nuev ...

, which merged with Chicago in 1959 (

) *

Pittsburgh Pittsburgh ( ) is a city in the Commonwealth (U.S. state), Commonwealth of Pennsylvania, United States, and the county seat of Allegheny County, Pennsylvania, Allegheny County. It is the most populous city in both Allegheny County and Wester ...

, which merged with Philadelphia in 1969 (

Pittsburgh Stock Exchange The Pittsburgh Stock Exchange was a large regional stock market located in Pittsburgh, Pennsylvania from November 11, 1864 (originally as Thurston's Oil Exchange) until closing on August 23, 1974. It was alternatively named the Pittsburgh Coal ...

) *

Richmond, Virginia (Thus do we reach the stars) , image_map = , mapsize = 250 px , map_caption = Location within Virginia , pushpin_map = Virginia#USA , pushpin_label = Richmond , pushpin_m ...

, which closed in 1972 ( Richmond Stock Exchange) * St. Louis, which merged with Chicago in 1949 (

) *

Salt Lake City Salt Lake City (often shortened to Salt Lake and abbreviated as SLC) is the Capital (political), capital and List of cities and towns in Utah, most populous city of Utah, United States. It is the county seat, seat of Salt Lake County, Utah, Sal ...

, which closed in 1986 ( Intermountain Stock Exchange) *

Seattle Seattle ( ) is a seaport city on the West Coast of the United States. It is the seat of King County, Washington. With a 2020 population of 737,015, it is the largest city in both the state of Washington and the Pacific Northwest regio ...

, which closed in 1942 (

) *

Spokane, Washington Spokane ( ) is the largest city and county seat of Spokane County, Washington, United States. It is in eastern Washington, along the Spokane River, adjacent to the Selkirk Mountains, and west of the Rocky Mountain foothills, south of the Canada ...

, which closed in 1991 (

Spokane Stock Exchange The Spokane Stock Exchange was a regional stock exchange in the northwest United States, located in Spokane, Washington. Founded mainly to trade stock of mining companies, it began operations in 1897 and closed 94 years later on May 24, 1991. ...

) *

Washington, D.C. ) , image_skyline = , image_caption = Clockwise from top left: the Washington Monument and Lincoln Memorial on the National Mall, United States Capitol, Logan Circle, Jefferson Memorial, White House, Adams Morgan, ...

, which merged with Philadelphia in 1953 ( Washington Stock Exchange) * Wheeling, West Virginia, which closed in 1965 (

)

References

{{reflist Economy of the United States

History of regional stock exchanges

List of regional stock exchanges

Current

See also

References