What is the Boston Stock Exchange (BSE) .B
The Boston Stock Exchange (BSE) .B was one of the last and oldest regional stock exchanges in the United States. As the name implies, the exchange was located in the heart of the historic financial district in Boston, Massachusetts. The Boston Stock Exchange was the third-oldest stock exchange in the U.S., having been originally founded in 1834. Boston's gaslit lamps and red brick streets compliment the Boston Stock Exchange's rich heritage.
BREAKING DOWN Boston Stock Exchange (BSE) .B
Nasdaq purchased the Boston Stock Exchange (BSE) .B in 2007 for $61 million. Its normal hours of operation were 8 a.m. to 7 p.m. on weekdays except for holidays, similar to other exchanges. The exchange formerly owned two subsidiaries: the Boston Options Regulation and the BSE Clearing Corporation.
In 2002, the Boston Stock Exchange co-founded the Boston Options Exchange (BOX) with the derivatives exchange, the Montreal Exchange, and the discount brokerage, Interactive Brokers. The Montreal Exchange would go on to acquire all remaining controlling interest in 2007.
During it's prime, the Boston Stock Exchange's biggest claim to fame was its allowance for members by foreign brokers. In a sense, making it a pioneer in international finance that enabled capitalism to mature globally. The Exchange also broke ranks with its larger rival, the New York Stock Exchange, by allowing bonds to be exchanged for cash in 1914 - which marked the start of the Great War, World War I.
Most have merged or are otherwise defunct now, but a list of major companies on the Boston Stock Exchange included:
- AMERICAN MOLD GUARD
- TIMELINE, INC.
- LITTLEFIELD CORPORATION
- INTNL INTERNATIONAL, INC.
- CLEVELAND BIOLABS, INC.
- FIRST CAROLINA INVESTORS, INC.
- BLUEFLY, INCORPORATED
- BIODELIVERY SCIENCES INTNL INTERNATIONAL, INC.
- ASCENT SOLAR TECHNOLOGIES, INC.
- MAGELIAN PETROLEUM CORPORATION