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Frequently Asked Questions

What is the Chicago Stock Exchange?

The Chicago Stock Exchange (“CHX” or “Exchange”) is a market place for the purchase and sale of equity securities. The Exchange is a national securities exchange and self-regulatory organization, which operates with the oversight of the U.S. Securities and Exchange Commission (“SEC”).

How is the CHX structured?

CHX operates as a direct and wholly-owned subsidiary of CHX Holdings, Inc. ("CHX Holdings"), a Delaware corporation. Previously, the Exchange had been constituted as a membership organization in which a "seat" on the Exchange conferred both a fractional ownership interest as well as the privilege to trade on the floor. On February 8, 2005, the demutualization plan of the Chicago Stock Exchange, which had already been approved by its members, received approval from the Securities and Exchange Commission. All CHX memberships were extinguished as part of the demutualization transaction, which was effective on February 9, 2005. A CHX Trading Permit now provides access to the Exchange and its trading systems. A Trading Permit does not confer any ownership rights on the holder.

How does the CHX operate?

CHX operates a fully electronic Matching System (“CHX Matching System”) and provides routing to off-Exchange Institutional Brokers and market makers. The CHX Matching System has been designed to provide broker-dealers with cost efficient executions.

Which companies trade at the CHX?

Publicly traded companies do not need to be listed on the CHX to be traded here. SEC rules allow the CHX to trade stocks listed on other exchanges. Stocks eligible for trading in the CHX Matching System will include, but are not limited to, issues traded on NYSE, AMEX, NASDAQ and BATS.