STOCK EXCHANGES

Formal organizations, approved and regulated by the Securities and Exchange Commission (S.E.C.) , that are made up of members that use the facilities to exchange certain common stocks . The two major national stock exchanges are the New York Stock Exchange (N.Y.S.E.) and the American Stock Exchange (A.S.E. or A.M.E.X.) . Five regional stock exchanges include the Midwest, Pacific, Philadelphia, Boston, and Cincinnati. The Arizona Stock Exchange is an after hours electronic marketplace where anonymous participants trade stocks via personal computers.