History and Merges of the US Exchanges —
Summary
The ragtag assortment of brokers, who reputedly signed the agreement under a buttonwood tree, would go on to form the New York Stock and Exchange Board, and eventually move from the Tontine Coffee House they were renting, to 11 Wall Street. Other notable acquisitions include Standard & Poor’s Securities Evaluations (SPSE) in 2016, the Chicago Stock Exchange (CHX) in 2018, and Ellie Mae Inc., a technology company that processes 35% of all US mortgage applications, in 2020. In that same 1998 address, Berkeley also outlined Nasdaq’s aspirations as a data vendor, explaining the different levels of aggregation required by different potential customers, from academia, to the corporate world, and on to individual investors. In 1919 it was renamed the Chicago Mercantile Exchange and the following decades would see it expanding its operations to include other kinds of futures contracts such as frozen pork bellies, live cattle, currencies and stock indices. Just the other week, the IMF’s Managing Director, Kristalina Georgieva, gave a speech calling for “a new Bretton Woods moment,” before hosting a virtual panel on Central Bank Digital Currencies (CBDCs) and Global Stable Coins (GSCs).
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