The Chicago Stock Exchange CHX is a stock exchange in Chicago , Illinois. The exchange is a national securities exchange and Self-Regulatory Organization, which operates under the oversight of the U. Securities and Exchange Commission SEC. The Chicago Stock Exchange is currently located at South LaSalle Street FOUR Founded on March 21, , in , the Chicago Stock Exchange merged with the regional stock exchanges St.

Louis Stock Exchange , Cleveland Stock Exchange and Minneapolis-St. Paul Stock Exchange to form the Midwest Stock Exchange. In , the New Orleans Stock Exchange became part of the Midwest Stock Exchange, and in the early s the Midwest Stock Exchange Service Corporation was established to provide centralized accounting for member firms.

Chicago Stock Exchange - Wikipedia

The Chicago Stock Exchange was founded in a formal meeting on March 21, At this time, Charles Henrotin was elected the chairman and president. In April that year, a lease was taken out at Dearborn Street for the location of the exchange and during that year memberships were sold. On May 15, , the Chicago Stock Exchange officially became public and opened its offices, with Henrotin being the first to promote it along with some business associates.

The exchange began to flourish significantly in the late s, with the rate of transactions of stocks and bonds increasing and earning them big profits. The old Chicago Stock Exchange building was demolished in , but the original trading floor and main entrance can now be found at the Art Institute of Chicago.

In July , the Exchange closed as a result of World War I , and remained closed until December In October , the basis of quoting and trading in stocks changed from percent to par value to dollars. On April 26, , the Chicago Stock Exchange Stock Clearing Corporation was established.

On October 29, , the stock market crashed, resulting in a very difficult time period for the Chicago Stock Exchange, and the stock market in general. In , the CHX merged with the exchanges of St.

Paul to form the Midwest Stock Exchange. In April , the Chicago Stock Exchange launched an Intermarket Trading System ITS , a system that allowed orders to be sent from one exchange to another to ensure that customers received the best execution available.

In the s, the Chicago Stock Exchange made several technological advancements to improve trading. In , the CHX launched the MAX system, which allowed CHX to be one of the first stock exchanges to provide fully automated order execution. In , the CHX implemented programs to trade Nasdaq securities. In the s, the Exchange had a rebirth, and in changed its name back to the Chicago Stock Exchange, [1] reflecting its roots and identity within the Chicago financial community.

In the Chicago Stock Exchange began trading exchange-traded funds ETFs.

At the beginning of the new millennium, several major changes occurred. In , the SEC approved a change of the ownership structure of the CHX from a not-for-profit, member-owned company to a for-profit, stockholder-owned corporation.

What does membership in the New York Stock Exchange entail, and why is it known as "owning a seat"?

The CHX now operates as a direct and wholly owned subsidiary of CHX Holdings, Inc. In the same year, the CHX announced that it had completed the migration to the New Trading Model platform the CHX Matching System.

The National Stock Exchange ceased trading operations on May 30, , bringing the number of active stock exchanges in the United States to Wrote Bloomberg , that left "just one public exchange, Chicago Stock Exchange Inc. On 5 February , Chongqing Casin Enterprise Group, a Chinese led investment group, entered into a definitive agreement to acquire CHX Holdings, Inc.

The privately held Casin Group was founded in A minority ownership position is held by Bank of America , E-Trade , Goldman Sachs and JPMorgan Chase. The CHX Matching System was designed for full electronic trade matching. In the winter of , CHX anticipates rolling out its revolutionary on-demand auction product, CHX SNAP Sub-second Non-displayed Auction Process , which received regulatory approval from the Securities and Exchange Commission in October and a thorough review from the Federal Reserve Bank of Chicago.

CHX SNAP is designed to facilitate bulk trading of securities on a lit market and to minimize speed and information advantages enjoyed by only a few market participants.

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