In 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.


Over The Counter (OTC) Trading

There are a number of stocks that are not listed in any exchange. Despite that, they are traded directly between brokers. This type of trading between brokers is called “over the counter.”


Generally, small companies that can not get listed on the exchanges are traded over the counter.  Often, these companies issue a very limited number of shares.


Due to their low trading volume, over the counter stocks are known for having very volatile prices.  Over the counter trading is conducted without any regulations, and is not assisted by specialists or market makers.


The OTC Bulleting Board (OTCBB) is a special computer program that assists brokers that trade over the counter. On this system, brokers post what shares they own and at what price they are looking to sell. There are thousands of stocks that are displayed on the OTCBB. Today, OTCBB trading is done online.


Click here for the OTCBB website.