On March 6, a new daily record for trade volume was set at 355,763. On March 7, the CHX broke daily share records when volume soared to 129,704,196. Seat prices also rose dramatically throughout the quarter, establishing a new record of $275,000 on March 24. The last consummated sale of the quarter was $250,000, compared to $157,000 the same time last year.
"The CHX's combination of low trading costs, efficient point-to-point connectivity, high quality execution and an unmatched variety of stocks available for trading continues to produce record-breaking growth," said CHX President and CEO Bob Forney. "Our strong performance and the rise in our seat prices demonstrate that the Exchange, along with its members, remain a highly competitive force in the U.S. equities market."
Activity in Nasdaq issues traded under the CHX's over-the-counter (OTC) program remained strong in the first quarter of 2000. Total OTC trade volume reached 7,917,566, up more than 827 percent from the first quarter of 1999, when trade volume totaled 854,041. Total share volume surged to 2,181,626,975, compared to 319,930,185 from the same period last year, a 582 percent increase. OTC volume in March reflected this trend, as trade volume ended up 944 percent at 3,593,440, and share volume finished at 933,941,482, an increase of 682 percent over last March. Share volume for extended hours trading from 3:00 p.m. to 5:30 p.m. Central Time totaled 101,341,116 for the quarter and 38,203,980 for March.
The Chicago Stock Exchange was founded May 15, 1882 and is the second most active stock exchange in terms of share and trade volume. The CHX is also the fastest growing exchange providing the strongest force for competition to all U.S. markets. The CHX trades more than 4,500 NYSE, Amex, Nasdaq and CHX-exclusive issues, more than any other stock exchange in the world.
