11 Key US Equities Exchanges

New York Stock Exchange (NYSE)

The NYSE, officially known as the New York Stock Exchange, is the world's largest equities exchange in terms of market capitalization. Established in 1792, it is based in New York City. Renowned for its trading of stocks from major corporations, including blue-chip stocks and industry leaders, the NYSE utilizes a blend of electronic trading and floor trading facilitated by human traders. The exchange falls under the regulatory oversight of the Securities and Exchange Commission (SEC) and is owned by Intercontinental Exchange (ICE).

National Association of Securities Dealers Automated Quotation System (Nasdaq)

The Nasdaq, officially known as the National Association of Securities Dealers Automated Quotation System, is an electronic exchange situated in New York City. Established in 1971, it has emerged as the second-largest equities exchange globally. Nasdaq specializes in listing technology and growth-oriented companies, housing prominent entities like Apple, Amazon, and Alphabet (parent company of Google). Unlike traditional exchanges, Nasdaq operates exclusively electronically and does not have a physical trading floor. Regulated by the SEC, Nasdaq is owned by Nasdaq, Inc.

Boston Stock Exchange (BSE)

The BSE, officially known as the Boston Stock Exchange, is a regional exchange based in Boston, Massachusetts. Established in 1834, it focuses on trading securities of smaller companies located in the Northeastern United States. The exchange operates solely through electronic means and is subject to regulation by the SEC. In 2007, the BSE was acquired by Nasdaq, Inc., integrating it into the Nasdaq network.

Cboe Options Exchange (Cboe)

The Cboe, officially known as the Cboe Options Exchange, is the largest options exchange in the United States, situated in Chicago, Illinois. Established in 1973, it specializes in trading options on a variety of securities, including stocks, ETFs, and indexes. The Cboe offers a comprehensive selection of options products, encompassing standardized equity and index options, as well as tailored options contracts. Operating exclusively electronically, the exchange is subject to regulation by the SEC. The Cboe is a subsidiary of Cboe Global Markets, Inc.

Chicago Board of Trade (CBOT)

The CBOT, officially known as the Chicago Board of Trade, is a renowned futures exchange located in Chicago, Illinois. Established in 1848, it specializes in trading futures contracts linked to various commodities, including corn, wheat, and soybeans. In addition to these agricultural products, the CBOT also facilitates trading of financial products such as interest rate futures and Dow Jones futures. The exchange operates under the regulatory oversight of the Commodity Futures Trading Commission (CFTC) and is owned by CME Group Inc.

Chicago Mercantile Exchange (CME)

The CME, formally known as the Chicago Mercantile Exchange, is a futures exchange situated in Chicago, Illinois. Founded in 1898, it specializes in trading futures contracts related to various commodities, including cattle, hogs, and crude oil. Additionally, the CME facilitates trading of financial products such as interest rate and foreign exchange futures. The exchange operates under the regulatory oversight of the Commodity Futures Trading Commission (CFTC) and is owned by CME Group Inc.

Chicago Stock Exchange (CHX)

The CHX, officially known as the Chicago Stock Exchange, is a regional exchange situated in Chicago, Illinois. Established in 1882, it specializes in trading securities of small and mid-sized companies. The exchange operates exclusively through electronic means and is subject to regulation by the Securities and Exchange Commission (SEC). In 2017, the CHX was acquired by a consortium of Chinese investors.

International Securities Exchange (ISE)

The ISE, officially known as the International Securities Exchange, is an electronic options exchange situated in New York City. Established in 2000, it specializes in trading options on a diverse range of securities, including stocks, ETFs, and indexes. The ISE provides an array of options products, encompassing standardized equity and index options, as well as tailor-made options contracts. Operating entirely through electronic means, the exchange is subject to regulation by the Securities and Exchange Commission (SEC). In 2016, the ISE was acquired by Nasdaq, Inc.

Miami Stock Exchange (MS4X)

The MS4X, officially known as the Miami Stock Exchange, is a regional exchange based in Miami, Florida. Established in 2021, it primarily concentrates on trading securities of companies from the Caribbean and Latin America. The exchange operates exclusively through electronic means and is subject to regulation by the Securities and Exchange Commission (SEC).

National Stock Exchange (NSX)

The NSX, officially known as the National Stock Exchange, is a regional exchange based in Jersey City, New Jersey. Established in 1885, it specializes in trading securities of small and mid-sized companies. The NSX operates exclusively through electronic means and is subject to regulation by the Securities and Exchange Commission (SEC).

Philadelphia Stock Exchange (PHLX)

The PHLX, or Philadelphia Stock Exchange, is an options exchange based in Philadelphia, Pennsylvania. Founded in 1790, it specializes in trading options linked to various securities, including stocks, ETFs, and indexes. The PHLX provides a diverse selection of options products, which include standardized equity and index options, as well as customized options contracts. Operating solely through electronic means, the exchange is regulated by the Securities and Exchange Commission (SEC). The PHLX is owned by Nasdaq, Inc.

The Bottom Line

In conclusion, the US equities markets provide a diverse array of opportunities for investors and traders, thanks to the presence of multiple prominent exchanges. The 11 exchanges discussed in this article each possess their own distinct histories, operations, and attributes, catering to various types of securities and investment strategies. Whether one seeks to engage in stock, options, or futures trading, there is an exchange that suits their requirements. By comprehending the disparities between these exchanges and the securities they facilitate, individuals can make better-informed decisions regarding their investment endeavors.