Scottish Stock Exchange
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The Scottish Stock Exchange was a
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 ...
which started trading on 2 January 1964 following a merger of the four main stock exchanges in Scotland: the
Edinburgh Stock Exchange The Edinburgh Stock Exchange was established in 1844. Not to be confused with the Edinburgh Royal Exchange. Formation Shares were first dealt in the city around 1825. The Edinburgh Stock Exchange was established in 1844, when seven brokers met o ...
,
Glasgow Stock Exchange The Glasgow Stock Exchange is a prominent building and former financial institution in the centre of the city of Glasgow, Scotland. The exchange was founded in 1844. In 1973, it merged with the London Stock Exchange. the building is occupied b ...
,
Dundee Stock Exchange The Dundee Stock Exchange was established in 1879. In 1964, it merged into the Scottish Stock Exchange along with the Glasgow Stock Exchange, Edinburgh Stock Exchange, and Aberdeen Stock Exchange. It continued to operate as a local branch until ...
, and
Aberdeen Stock Exchange Aberdeen (; sco, Aiberdeen ; gd, Obar Dheathain ; la, Aberdonia) is a city in North East Scotland, and is the third most populous city in the country. Aberdeen is one of Scotland's 32 local government council areas (as Aberdeen City), and ...
. The main secretariat of the exchange was in Glasgow, while the Edinburgh, Dundee, and Aberdeen exchanges operated as local branches until 1971, when the local exchanges closed completely. During the construction of the new Scottish Stock Exchange building in St George's Place, Glasgow, the exchange was housed in a converted warehouse on
Ingram Street Ingram Street is a major thoroughfare in the city of Glasgow, the largest city in Scotland. The street runs east from Queen Street through the Merchant City until it meets High Street. History The street was formerly known as Back Cow Lone. L ...
. The new building was opened after two years' work on 13 April 1971. In 1973, the Scottish Stock Exchange merged into the
London Stock Exchange London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...
. Since then, there have been calls to re-establish an independent stock exchange in Scotland. In 2016, plans were announced for the establishment of a Scottish Stock Exchange by a group of ex-NASDAQ traders and Scottish investors to be based in Edinburgh. The announcement was made after the referendum on the UK's membership of the EU. In 2018, fresh plans for a Scottish Stock Exchange were unveiled when businessman Tomás Carruthers announced a deal with Euronext to provide its Optiq software platform for a virtual exchange based in Scotland, tentatively known as Bourse Scot. Background research published in November 2018 was positively reviewed in Forbes magazine. Further details were disclosed at an event in March 2019 with news of funding arranged with the accountancy and business advisory firm, AAB once FCA approval is gained. On 9 May 2019 it was announced that Scottish Enterprise had awarded a £750,000 Regional Selective Assistance grant to Project Heather in support of 45 highly skilled jobs


References

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See also

* List of stock exchanges in the United Kingdom, the British Crown Dependencies and United Kingdom Overseas Territories 1964 establishments in Scotland 1973 disestablishments in Scotland Economy of Scotland Economic history of Scotland Former stock exchanges in the United Kingdom Organisations based in Glasgow