The following diagram displays how the market cap has grown in each of three major exchanges. You can see clearly that the stock market’s growth, from 1,990 until 2,007, lead to a major increase in the market cap.

Regional ExchangesIn addition to the three major exchanges – NYSE, NASDAQ, and AMEX – there are a number of active regional exchanges. Each of these exchanges focuses on companies that are based locally, but they often include a few firms that are also listed in the major exchanges as well.

The important regional exchanges are:

• The Boston Stock Exchange.

• The Chicago Stock Exchange.

• The Cincinnati Stock Exchange.

• The Pacific Stock Exchange.

• The Philadelphia Stock Exchange.