The Chicago Stock Exchange ( CHX ) is the stock exchange in Chicago, Illinois. Exchange is a national securities exchange and Self-Regulatory Organization, operating under the supervision of the US Securities and Exchange Commission (SEC). The Chicago Stock Exchange is currently located at 440 South LaSalle Street (FOUR40).
Founded on March 21, 1882, in 1949, the Chicago Stock Exchange merged with regional stock markets St. Louis Stock Exchange, Cleveland Stock Exchange and Minneapolis-St. Paul Stock Exchange to form the Midwest Stock Exchange . In 1959, the New Orleans Stock Exchange became part of the Midwest Stock Exchange, and in the early 1960s Midwest Stock Exchange Company was established to provide centralized accounting for member companies. In 1993 changed its name back to the Chicago Stock Exchange.
Video Chicago Stock Exchange
Histori
1882-1900
The Chicago Stock Exchange was established in an official meeting on March 21, 1882. At this time, Charles Henrotin was elected chairman and president. In April of that year, a rental was taken at 115 Dearborn Street for the location of the exchange and during that year 750 members were sold. On May 15, 1882, the Chicago Stock Exchange officially became public and opened its offices, with Henrotin being the first to promote it along with several business associates.
In 1894, the Chicago Stock Exchange moved its trading floor to the old Chicago Stock Exchange building, designed by Adler & amp; Sullivan, located on a street corner of Washington and LaSalle. The old Chicago Stock Exchange building was demolished in 1972, but the original trading floor and main entrance can now be found at the Art Institute of Chicago. The exchange began to grow significantly in the late 1880s, with stock and bond transaction rates rising and generating substantial profits. 1903-2000 In July 1914, the Exchange closed as a result of World War I, and remained closed until 11 December. In October 1915, the base of the stock offering and trading changed from a cent to a nominal value to a dollar. On April 26, 1920, the Chicago Stock Exchange Classification Society was established. On October 29, 1929, the stock market fell, resulting in a very difficult period of time for the Chicago Stock Exchange, and the stock market in general. In 1949, CHX joined the stock exchange. Louis, Cleveland and Minneapolis/St. Paul to form the Midwest Stock Exchange. In 1959, the New Orleans Stock Exchange became part of the Midwest Stock Exchange, and in the early 1960s Midwest Stock Exchange Company was established to provide centralized accounting for member companies. In April 1978, the Chicago Stock Exchange launched the Intermarket Trading System (ITS), a system that allows orders to be sent from one exchange to another to ensure that customers receive the best available execution. In the 1980s, the Chicago Stock Exchange made some technological advances to boost trade. In 1982, CHX launched its MAX system, allowing CHX to be one of the first stock exchanges to provide fully automatic order execution. In 1987, CHX implemented a program to trade Nasdaq securities. In the 1990s, the Exchange experienced a rebirth, and in 1993 changed its name back to the Chicago Stock Exchange, reflecting its roots and identity within the Chicago financial community. In 1997, the Chicago Stock Exchange started trading on exchange-traded funds (ETFs). 2001-present
At the beginning of the new millennium, several major changes took place. In 2005, the SEC approved CHX's ownership structure change from a non-profit, member-owned company to a non-profit, company-owned shareholder. CHX now operates as a direct subsidiary and is wholly owned by CHX Holdings, Inc., a Delaware company. Then in 2005, CHX implemented the Electronic Book trading platform; its predecessor technology from the New Trade Model Matching System. In 2006, the Exchange announced regulatory and shareholder approvals from CHX investments by Bank of America Corporation, Bear Stearns (acquired by JP Morgan Chase in 2008), E * TRADE FINANCIAL Corporation, and Goldman, Sachs & Co. In the same year, CHX announced that it has completed its migration to the New Trade Model (CHX Matching System) platform.
The National Stock Exchange suspended trading operations on May 30, 2014, bringing the number of active stock exchanges in the United States to 11. Write Bloomberg , leaving "only one public exchange, Chicago Stock Exchange Inc., which is not owned by Bats , Nasdaq OMX Group or IntercontinentalExchange Group Inc. "
On February 5, 2016, Chongqing Casin Enterprise Group, China's leading investment group, signed a definitive agreement to acquire CHX Holdings, Inc., parent company of the Chicago Stock Exchange, for an undisclosed amount, subject to regulatory approval. Private-owned Casin Group was established in 1997. The minority ownership position is held by Bank of America, E-Trade, Goldman Sachs and JPMorgan Chase. This acquisition is worth less than $ 100 million. However, the deal was questioned by Donald Trump's candidate during his 2016 presidential campaign. In addition, Congressman Robert Pittenger urged the US Treasury Department to look at the background of the Casin Group. In August 2017, the transaction was still pending, with the US Securities and Exchange Commission declaring the reservation. The sale was blocked by the government in February 2018.
Maps Chicago Stock Exchange
Trading on CHX
The CHX Matching System is designed for complete electronic commerce matching. Publicly traded companies do not need to be registered with CHX for sale on CHX; SEC rules allow CHX to trade shares listed on other exchanges.
In 2016, CHX launched its on-demand auction product, CHX SNAP (Second Non-Displayed Auction Process), which received regulatory approval from the Securities and Exchange Commission in October 2015 and a comprehensive review of the Federal Reserve Bank of Chicago. CHX SNAP is designed to facilitate the trading of large-scale securities in a lit market and to minimize the speed and benefits of information enjoyed by only a few market participants.
See also
- Chicago Stock Exchange Arch
- Chicago Curb Exchange
- List of stock exchanges in America
- List of stock mergers in America
Note
References
- Chicago Stock Exchange . 2008. Accessed on February 18, 2008.
External links
- Official website
- Emporis in old building
- Splendor Assets From Stock Exchange Eve M. Kahn, New York Times May 28, 2009
- Chongqing Casin Enterprise Group website
- Historic American Buildings (HABS) No. IL-1034, "Chicago Stock Exchange Building", 13 photos, 9 scalable images, 12 pages of data, 2 photo pages
Source of the article : Wikipedia
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