What Is a Regional Stock Exchange?

A regional stock exchange is a stock exchange that is located in a region outside that country's primary financial center. Often, companies that cannot meet the strict listing requirements of a national exchange may qualify for a listing on a regional exchange, though a company that qualifies to be on a national exchange may also register for a listing on one or more regional exchanges.

Understanding Regional Stock Exchanges

In the United States, a regional stock exchange is one that exists outside of New York City, which is seen as the nation’s financial center and home to the 澳洲幸运5官方开奖结果体彩网:New York Stock Exchange (NYSE), NASDAQ, and the 澳洲幸运5官方开奖结果体彩网:American Stock Exchange (AMEX). 

Regional stock exchanges trade in 澳洲幸运5官方开奖结果体彩网:over-the-counter (OTC) and localized companies, which are too small to register on a national exchange. By increasing participation in markets, regional stock exchanges add to overall market liquidity and increase the efficiency of financial markets. There are seven regional exchanges in the U.S. that are registered with the SEC.

The 澳洲幸运5官🌠方开奖结果体彩网:Securities and Exchange Commission (SEC) was formed as part of the Securities Exchange Act of 1934. In 1934, major regional stock exchanges existed across the United States, including the Boston Exchange, Philadelphia Stock Exchange, Chicago Exchange, and Pacific Stock Exchange (originally the San Francisco Stock Exchange and Los Angeles Oil Exchange before the 1957 merger). Each of these clearinghouses had a distinct focus. By January 1935, there were a total of 34 stock exchanges.

These four major reg𝔍ional exchanges each had a specific market that they focused on. They were:

• Boston: Primary focus is on mutual funds.
• Chicago: Trades regionally listed stocks, and stocks from other exchanges, including the NYSE, AMEX, and NASDAQ, to service the needs of its regional financial institutions.
• 澳洲幸运5官方开奖结果体彩网:Pacific: Known for servicing the options market.
• Philadelphia: Primary focus on providing a market for derivatives and options from various sectors (metals, oil, semiconductors, banks, utilities, and currency).

The NASDAQ acquired the Philadelphia and Boston exchanges, while the NYSE procured the Pacific Exchange, ending their time as independent entities. In 2018, the NYSE's parent company reached an agreement to purchase the Chicago Exchange.

These 💜are the exchanges currently registered with the SEC:

• BOX Exchange LLC
• Cboe BYX Exchange, Inc.
• Cboe BZX Exchange, Inc.
• Cboe C2 Exchange, Inc.
• Cboe EDGA Exchange, Inc.
• Cboe EDGX Exchange, Inc.
• Cboe Exchange, Inc.
• Investors Exchange LLC
• Long-Term Stock Exchange, Inc.
• MEMX, LLC
• Miami International Securities Exchange
• MIAX Emerald, LLC
• MIAX PEARL, LLC
• Nasdaq BX, Inc.
• Nasdaq GEMX, LLC
• Nasdaq ISE, LLC
• Nasdaq MRX, LLC
• Nasdaq PHLX LLC
• The Nasdaq Stock Market
• New York Stock Exchange LLC
• NYSE Arca, Inc.
• NYSE Chicago, Inc.
• NYSE American LLC
• NYSE National, Inc.

Regional Stock Exchanges Overseas

Similar to the United States, other nations also have national exchanges. The 澳洲幸运5官方开奖结果体彩网:London Stock Exchange (LSE) and the 澳洲幸运5官方开奖结果体彩网:Tokyo Stock Exchange (TSE) are examples of foreign national exchanges. These countries may also have regional stock exchanges. For example, the U.K. has The International Stock Exchange on the Channel Islands and the Eastern Caribbean Securities Exchange, which 澳洲幸运5官方开奖结果体彩网:co⛄vers British😼 territories in the Caribbean.

Regional stock exchanges abroad may also function as the primary exchange for a group of closely situated countries. For example, the Bourse Régionale des Valeurs Mobilières SA (BRVM) is a regional stock exchange that serves Côte D'Ivoire, Senegal, Niger, and five other West African countries.