| 1860's-1880's:
The Early Years |
| 1864-1882 |
Chicago brokers, traders
and businessmen form exchanges with varying success. |
| 1871 |
Great Fire
of Chicago |
| March 21, 1882 |
First formal meeting is
held to organize the Chicago Stock Exchange. Charles Henrotin
elected chairman and president. |
| April 1882 |
A lease is taken out at
115 Dearborn Street for the Chicago Stock Exchange; 749 memberships
have been sold. |
| 1885 |
First skyscraper
built |
| Late 1880s |
First case of dual listing
occurs when a newly issued stock is quoted on both Chicago and
New York Stock Exchanges. |
| 1891 |
"The El"
goes into operation |
1893:
|
World's
Columbian Exposition
|
| 1900's
- 1920's: ... |
| 1900 |
Flow of
Chicago River reversed |
| July 31, 1914 |
Exchanges close through
December 11th upon declaration of World War. |
| Oct. 13, 1915 |
Basis of quoting and trading
in stocks changed from percent of par value to dollars. |
| April 26, 1920 |
CHX Stock Clearing Corporation
established. |
| Oct. 29, 1929 |
Stock market "crash." |
1929
|
Shedd Aquarium
opens
|
| 1930's
- 1940's: A Century of Progress |
| May 27, 1933 |
Securities Act of 1933
enacted, providing full disclosure to investors to prohibit
fraud in connection with the sales of securities. |
| June 6, 1934 |
Securities Exchange Act
of 1934 enacted, regulating securities trading and establishing
the Securities & Exchange Commission (SEC). |
| 1947 |
Chicago Transit Authority
(CTA) formed. |
1949
|
CHX merges with the exchanges
of St. Louis, Cleveland and Minneapolis/St. Paul to form the
Midwest Stock Exchange. |
| 1950's
- 1960's: Consolidation |
| Sept. 29, 1952 |
Trading hours change to
10 a.m. - 3:30 p.m. ET; no Saturdays. |
| 1955 |
Mayor Richard
J. Daley elected |
| 1959 |
New Orleans Stock Exchange
becomes part of the Midwest Stock Exchange. |
Early 1960s
|
Midwest Stock Exchange
Service Corporation is established to provide centralized accounting
for member firms. |
| 1970's:
... |
| 1971 |
Sears Tower
opened |
| May 11, 1973 |
Midwest Securities Trust
Company (MSTC) is established to provide central depository
for securities certificates and to electronically record transfers
of stock ownership. |
| October 1, 1974 |
Trading hours are extended
to 4 p.m., ET. |
| April 30, 1975 |
Fixed commission system
is abolished |
| June 16, 1975 |
Full consolidated tape
is introduced, allowing the reporting of all trades from the
primary and regional exchanges to be combined onto one tape.
|
| April 17, 1978 |
Launch of Intermarket
Trading System (ITS), a system that allows orders to be sent
from one exchange to another to ensure that a customer receives
the best execution available.
|
| 1980's:
Technological Advancement |
| 1982 |
CHX launches the MAX system,
becoming one of the first stock exchanges to provide fully automated
order execution. |
| 1983 |
Mayor Harold
Washington elected. |
May 1987
|
CHX implements program
to trade Nasdaq NMS securities. |
| 1990's:
Rebirth of the CHX |
| 1991 |
Harold Washington
Library Center, largest public library in the world, opens. |
| July 8, 1993 |
The Midwest Stock Exchange
changes its name back to the Chicago Stock Exchange, reflecting
its roots and identity within the Chicago financial community.
|
| June 7, 1995 |
Securities settlement
shortened from five to three business days following trade date
(T+3). |
| June 29, 1996 |
The CHX extends its trading
hours and is now open thirty minutes after the primary market
closes. |
| June 24, 1997 |
Exchanges begin trading
stock in sixteenths. |
| October 2, 1997 |
Chicago Stock Exchange
begins trading Exchange-Traded Funds (ETFs) |
| Oct. 27, 1997 |
The largest drop in
the Dow Jones Industrial Average occurs - 554 points - sparking
first-time use of circuit breaker rule, halting trading at
3:30 p.m. ET.
|
| 2000's:
New Corporate Structure and Trading System |
| April 9, 2001 |
Decimal pricing of all
stocks fully implemented. |
| February 8, 2005 |
SEC approves ownership
structure change of the CHX from a not-for-profit, member owned
company to a for-profit stockholder owned corporation. |
| June 9, 2005 |
SEC adopts Regulation
NMS and amends the joint industry market data plans. |
| July 21, 2005 |
CHX implements the Electronic
Book trading platform; the predecessor technology of the New
Trading Model's Matching System. |
| February 2, 2006 |
CHX files proposed rules
with the SEC to implement a new trading model. |
| July 31, 2006 |
The Exchange announces
regulatory and shareholder approval of an investment in CHX
by Bank of America Corporation; Bear Stearns; E*TRADE FINANCIAL
Corporation; and Goldman, Sachs & Co. |
| February 1, 2007 |
CHX announces that it has completed the migration
to the New Trading Model platform. |
