All the Major Stock Markets Of U.S.A comes under the high income OECD countries depending upon the classification of Economies by Income and region made by the World Bank for the year 2005. The Arizona Stock Exchange (AZX), established as the Wunsch Auction Systems in 1990 is one of the principle Stock Market of the world. Founded by Steve Wunsch, a former Kidder-Peabody Vice President, the headquarters of The Arizona Stock Exchange was moved to Phoenix, Arizona in early 1992 when it was reforged as the AZX.
Structured as a proprietary electronic call market that was restricted to use by institutional users only, the participants of The Arizona Stock Exchange could perform screen based trades of equity and other products through either the direct dial-up or the internet connection that is available. Unlike other stock markets, The Arizona Stock Exchange in U.S.A was not required to be registered or regulated as a stock exchange with the U.S. Securities and Exchange Commission (SEC) as it was operating under a de minims exemption.
One of the Major Stock Markets of the World, the common philosophy behind The Arizona Stock Exchange is to let all its natural buyers and sellers of equities, trade directly with one another the absence of a broker or a dealer.
It attempted to reduce all its transaction costs for their participants, remove the volatility from the market and determine more robust and fair pricing for the equities traded. Though The Arizona Stock Exchange had far sightedness and anticipated the use of more successful electronic communication networks, it had to close down due to lack of volume, in October 2001.
For further information About stock market, browse through the site Stock Market.
|