Chicago Stock Exchange

What Chicago Stock Exchange does

Chicago Stock Exchange, Inc. (CHX) is a U.S. national securities exchange and self-regulatory organization (SRO) operating a marketplace for securities transactions. Founded in 1882 and headquartered in Chicago, Illinois, CHX functions as a regulated trading venue under SEC oversight, serving broker-dealer members and other market participants. The firm is privately held and currently operates with a workforce of 251–500 employees under the leadership of John Kerin (Chief Executive Officer, President & Chief Operating Officer). Its public-facing presence is anchored at chx.com.

From a business-model standpoint, CHX generates revenue through standard exchange economic streams — transaction fees on trades executed on its platform, listing fees (where applicable), and market-data subscriptions — though the provided source data does not disclose CHX-specific revenue, customer counts, or trading-volume share. The data indicates CHX operates in a structurally challenging competitive tier: small- and mid-cap U.S. equities exchanges face persistent pressure from dominant venues (NYSE, Nasdaq, Cboe) and newer electronic exchanges (IEX, MEMX) for trading volume, listings, and market-data revenue. No CHX-specific product launches, partnerships, funding rounds, M&A activity, or leadership transitions are documented in the provided source material; the source content is dominated by material on NYSE Texas, a separate 2025 launch by Intercontinental Exchange's NYSE Group based in Dallas. Consequently, an investor relying solely on this input has very limited visibility into CHX's current strategic posture, financial trajectory, or product roadmap.

Name

Chicago Stock Exchange

Legal name

Intercontinental Exchange, Inc.

Website

https://chx.com

Company type

Public

Founded year

2025

Operating status

Operating

Headcount range

251–500 employees

Short description

Chicago Stock Exchange, Inc. is a privately held, SEC-regulated national securities exchange and self-regulatory organization, founded in 1882 and headquartered in Chicago, operating a marketplace for securities trading for broker-dealer members and other market participants.

Ownership category

akta.pro rank

Product category

Securities Exchange

NAICS

Securities and Commodity Exchanges (523210), Securities and Commodity Exchanges (5232)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Primary Listing Stock Exchanges (FSAFAAAA)

Keywords

• Securities exchange
• Equities trading
• Stock listing
• Market data
• Self-regulatory organization

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Operations, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Exchange Listing Fees: Revenue generated from listing public companies on the exchange. Companies pay fees for listing and maintaining their securities on NYSE Texas.
2. Trading Transaction Fees: Revenue from transaction fees charged on trades executed through the exchange.
3. Market Data Services: Revenue from providing market data products and trading information to market participants.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Chicago Stock Exchange, Inc. operates as a national securities exchange and self-regulatory organization (SRO), providing a regulated marketplace for the purchase and sale of securities. It offers listing services for public companies, transaction execution services for broker-dealers, and market data products for institutional and retail market participants, governed by its own SRO regulatory framework.

Product overview

NYSE Texas operates as a fully electronic equities exchange built on NYSE Pillar trading technology. The platform offers core exchange services including equities trading, dual listing capabilities, and Qualified Contingent Cross (QCC) trading for derivatives. The main product is the exchange itself, supplemented by its proprietary NYSE Pillar technology platform which provides efficient processing, enhanced determinism, lower latency, and harmonized order types across markets.

Differentiator

Problem solved

Functional benefit

Brands

• NYSE Pillar: Proprietary integrated trading technology platform used by NYSE Texas, designed to improve efficiency, reduce complexity, enhance consistency, performance and resiliency.

Products and services

• Securities Trading Platform
• Securities Listing Services
• Self-Regulatory Organization (SRO) Oversight
• Market Data Products

Segments2 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• Intercontinental Exchange (ICE)coreStrategic or Co-development PartnerNYSE Texas is a subsidiary of Intercontinental Exchange (ICE), operating as part of the ICE family of exchanges and clearing houses. ICE provides the corporate infrastructure, technology, and regulatory framework for NYSE Texas operations.

Scale indicators2 records

Recent moves1 record

Expansion highlights1 record

Others

• Intercontinental Exchange (ICE): Parent company of CHX and a global operator of exchanges and clearing houses. Relevant not as a competitor but as the controlling shareholder — its strategic priorities (e.g., NYSE Texas) materially shape CHX's growth trajectory.

Direct peers

• BOX Options Exchange: U.S. equity options and securities exchange operator. Comparable as a smaller regulated U.S. exchange competing for member and order flow in the same U.S. market structure.
• MIAX: Exchange operator running equities and options venues in the U.S. Comparable as a multi-asset exchange competitor in the U.S. equities market structure with overlapping regulatory and technology profiles.
• MEMX (Members Exchange): Member-owned U.S. equities exchange launched to provide low-cost trading. Comparable as a newer-generation national securities exchange targeting the same trading and listing customers as CHX.
• IEX: Relatively newer U.S. equities exchange focused on speed-bump execution and fairness. Directly comparable as a national securities exchange with an SRO license competing for U.S. equities trading share.
• NYSE Texas: ICE's newly launched (2025) fully electronic equities exchange based in Dallas. Direct sister exchange under the same parent with overlapping equities listing and trading functions — competes for the same issuer and member relationships as CHX within ICE's portfolio.

Broad incumbents

• Cboe Global Markets: Operator of multiple U.S. equity exchanges (BZX, BYX, EDGX, EDGA) plus derivatives. Comparable as a multi-venue exchange operator competing for the same equities trading and listings business as CHX.
• Nasdaq: Major U.S. national securities exchange operating a competing cash equities venue and listings franchise. Comparable as a primary listing and trading venue for public companies with similar SRO responsibilities.
• NYSE: The flagship U.S. national securities exchange, also owned by Intercontinental Exchange. Directly comparable as a regulated equities exchange with listing, trading, and SRO functions; CHX is a smaller sibling within the same corporate family.

Emerging players

• Long-Term Stock Exchange (LTSE): Newer U.S. equities exchange focused on long-term-oriented issuers and governance. Comparable as a competing national securities exchange seeking listings from public companies — overlapping with CHX's listing franchise.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks4 records

Key highlights5 records

Customer concentration

• Xx.com/tradeonchx

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Chicago Stock Exchange