The Chicago-Stock-Exchange (CHX) is located in Chicago, United States. This body is a self-regulated corporation and national assets exchange which is regulated by the U.S.-Securities and Exchange-Commission. The CHX is presently the third largest stock exchange in North America in terms of volume and the biggest outside of New York City.
The CHX services a complete electronic Matching platform that connects independent market makers as well as major institutional brokers. The CHX trading platform has been specifically developed to supply dealer/brokers with the most up to date and optimum pricing quotes possible. Public corporations are not even required to be listed with the CHX to trade there since the SEC enables the CHX to trade shares visible on other exchanges, such as AMEX, NYSE and NASDAQ.
The original Chicago Stock Exchange (CHX) was created at an official meeting held on 21st March 1882. The CHX amalgamated in 1949 with those of Cleveland, St. Louis and Minneapolis to produce the Midwest-Stock-Exchange. The New-Orleans-Stock-Exchange augmented this new exchange in 1959. The Midwest-Stock Exchange-Service-Corporation emerged from this process during the early 1960s to service member accounts at a centralized location.
The CHX introduced its Inter-market Trading System (ITS) in April 1978 enabling client orders to be transferred between exchanges allowing investors to attain the optimum quotes available. The CHX launched further technological advances during the 1980s. For instance, it presented its MAX system in 1982 providing automatic order processing for the first time ever. In 1987, novel techniques permitted the trading of NASDAQ assets.
In 1993, the CHX finally regained its original name of Chicago-Stock-Exchange and commenced processing exchange-traded funds in 1997. The US Securities and Exchange Commission (SEC) endorsed a major ownership structural change in 2005 enabling the CHX to trade as a profitable corporation supporting its own stockholders. The CHX subsequently launched its new electronic book trading system later the same year which was the predecessor of its present Trading Model Matching System. The next year, the exchange secured significant venture capital investment from bodies such as Goldman, Bear Stearns and the Bank of America.