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11 Key US Equities Exchanges

The United States is home to some of the largest and most important equities exchanges in the world. These exchanges play a critical role in facilitating the buying and selling of securities for investors, companies, and other market participants.

In this article, we will take a look at 11 major equities exchanges in the US, exploring their histories, operations, and unique characteristics. Understanding the differences between these exchanges is essential for anyone looking to participate in the US equities markets, whether as an investor or a trader.

New York Stock Exchange (NYSE)

The NYSE is the largest equities exchange in the world by market capitalization. It is located in New York City and was founded in 1792. The NYSE is known for trading stocks of some of the largest companies in the world, including blue-chip stocks and established industry leaders. The exchange operates through a combination of electronic trading and floor trading conducted by human traders. The NYSE is regulated by the Securities and Exchange Commission (SEC) and is owned by Intercontinental Exchange (ICE).

National Association of Securities Dealers Automated Quotation System (Nasdaq)

Nasdaq is an electronic exchange located in New York City. It was founded in 1971 and has since grown to become the second-largest equities exchange in the world. Nasdaq is known for listing many technology and growth-oriented companies, including major players such as Apple, Amazon, and Google parent company Alphabet. The exchange is fully electronic and does not have a physical trading floor. Nasdaq is regulated by the SEC and is owned by Nasdaq, Inc.

Boston Stock Exchange (BSE)

The BSE is a regional exchange located in Boston, Massachusetts. It was founded in 1834 and is known for trading smaller companies in the Northeastern United States. The exchange is fully electronic and is regulated by the SEC. In 2007, the BSE was acquired by Nasdaq, Inc.

Cboe Options Exchange (Cboe)

The Cboe is the largest options exchange in the United States and is located in Chicago, Illinois. It was founded in 1973 and is known for trading options on various securities such as stocks, ETFs, and indexes. The Cboe offers a range of options products, including standardized equity and index options, as well as customized options contracts. The exchange is fully electronic and is regulated by the SEC. Cboe Global Markets, Inc. is the parent company of the Cboe.

Chicago Board of Trade (CBOT)

The CBOT is a futures exchange located in Chicago, Illinois. It was founded in 1848 and is known for trading futures contracts on commodities such as corn, wheat, and soybeans. The CBOT also trades financial products such as interest rate futures and Dow Jones futures. The exchange is regulated by the Commodity Futures Trading Commission (CFTC) and is owned by CME Group Inc.

Chicago Mercantile Exchange (CME)

The CME is a futures exchange located in Chicago, Illinois. It was founded in 1898 and is known for trading futures contracts on commodities such as cattle, hogs, and crude oil, as well as financial products such as interest rate and foreign exchange futures. The CME is regulated by the CFTC and is owned by CME Group Inc.

Chicago Stock Exchange (CHX)

The CHX is a regional exchange located in Chicago, Illinois. It was founded in 1882 and is known for trading small and mid-sized companies. The exchange is fully electronic and is regulated by the SEC. In 2017, the CHX was acquired by a consortium of Chinese investors.

International Securities Exchange (ISE)

The ISE is an electronic options exchange located in New York City. It was founded in 2000 and is known for trading options on various securities such as stocks, ETFs, and indexes. The ISE offers a range of options products, including standardized equity and index options, as well as customized options contracts. The exchange is fully electronic and is regulated by the SEC. In 2016, the ISE was acquired by Nasdaq, Inc.

Miami Stock Exchange (MS4X)

The MS4X is a regional exchange located in Miami, Florida. It was founded in 2021 and is focused on trading companies in the Caribbean and Latin America. The exchange is fully electronic and is regulated by the SEC.

National Stock Exchange (NSX)

The NSX is a regional exchange located in Jersey City, New Jersey. It was founded in 1885 and is known for trading small and mid-sized companies. The exchange is fully electronic and is regulated by the SEC.

Philadelphia Stock Exchange (PHLX)

The PHLX is an options exchange located in Philadelphia, Pennsylvania. It was founded in 1790 and is known for trading options on various securities such as stocks, ETFs, and indexes. The PHLX offers a range of options products, including standardized equity and index options, as well as customized options contracts. The exchange is fully electronic and is regulated by the SEC. The PHLX is owned by Nasdaq, Inc.

The Bottom Line

In conclusion, the US equities markets offer a wide range of opportunities for investors and traders alike, thanks to the presence of numerous major exchanges. Each of the 11 exchanges we have explored in this article has its own history, operations, and unique characteristics, making them well-suited for different types of securities and investment strategies. Whether you are looking to trade stocks, options, or futures, there is an exchange out there that can meet your needs. By understanding the differences between these exchanges and the securities they trade, you can make more informed decisions about where and how to invest your money.

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