Silicon Valley will soon get its own stock exchange

The US will soon have a new stock exchange: government watchdogs have approved (pdf) the application for Long-Term Stock Exchange (LTSE), a trading platform backed by prominent Silicon Valley names. LTSE was given the go-ahead by the Securities and Exchange Commission today to become a national stock exchange, which will allow it to conduct listings and operate as a venue for buying and selling shares. US stock trading is dominated by markets run by the New York Stock Exchange, Nasdaq, and Cboe, which account for a combined share of more than 60% of volume.

Source: qz.com