Chicago Stock Exchange - CHX

The Chicago Stock Exchange or CHX is located in Chicago Illinois at One Financial Place. It is a type of private stock exchange that was founded in 1882, and is currently owned by CHX Holdings, Inc., which is a Delaware corporation. An executive board is in existence. The executive board is in charge of all the procedures of the exchange. In addition, a board of directors comprised of twelve members ensures that the operations are overseen. This board is divided into 6 public directors, 5 participant directors in addition to a CEO. These directors are elected by CHX Holdings, Inc. - which is the exchange's sole shareholder. This private entity operates under the vigilance of the SEC or the United States Securities and Exchange Commission. The Chicago Stock Exchange regulates itself and it is a national securities exchange system. In the USA, it is the third most active stock exchange, considering volume. The Chicago Stock Exchange website is CHX.com.

In the early eighties, this entity became technologically advanced and introduced the MAX system, for fully execution automated, bringing the company to the new way of exchanging. In the mid eighties, the company made implementations to be able to trade securities from NASDAQ. In the mid nineties, the CHX started trading ETF's or exchange-traded funds. The name Chicago Stock Exchanged did not appear until 1993, previously it was known as the Midwest Stock Exchange. Up to the 2001, the company had been operating as a non-profit company; it changed its structure to a stockholder owned for profit corporation. This change was verified by the Securities and Exchange Commission. The Chicago Stock Exchange has migrated to the New Trading Platform Model. Now it operates and full electronic matching system.

Some of the investors in this company include Bank of America, Goldman Sachs and Bear Stearns. Companies that are publicly traded are not required to list with the CHX, since this exchange is allowed by the Securities and Exchange Commission so they can trade stocks of companies listed in other exchanges. This will include the NASDAQ listed securities, the AMEX, and the NYSE. This is all done under the CHX Matching System and assisted with the CHX Connect system. The CHX Matching System allows cost efficient electronic executions and the CHX Connect System allows routing the orders to any destination that is connected, as it is an efficient communications service that is neutral. Most trades are automated and the spectrum of customers is wide, including online, professional, and institutional customers as well as full service. The CHX has 2 trading sessions during the day, which are from 8:30 until 3, and the 2nd session starts right away after the first one and up until 4 pm. The last session includes cross orders only.

Today, this entity offers trading in more than three thousand stocks. It also trades large stock blocks for financial institutions. The Chicago Stock Exchange trading systems are marketed throughout the world to other exchanges. This automation has made this exchange a strong one and has made the trading much more efficient and safe, as well as fast, especially with the trading platform.