The Boston Stock Exchange, founded in 1834, is the only stock exchange in Massachusetts. The BSE has approximately 200 members, handles over 2,000 stocks, and is the fastest-growing stock exchange in the US (increasing trade volume tenfold during the 1990s). There are 1,623 securities brokers and dealers organizations in Massachusetts, with 54,795 employees; 593 investment advisory organizations operate in the state. Massachusetts is the headquarters for 274 NASDAQ-listed companies, 11 NASDAQ market makers, 25 AMEX companies; and the state incorporated 101 companies on the NYSE. The top five companies on the NYSE are: Fleet Boston Financial Group, Raytheon, Gillette Co., TJX Companies, EMC Corp., and State St. Corp. Mutual funds originated in Boston during the 1920s.
The Securities Division of the Office of the Secretary of the Commonwealth is responsible for licensing and monitoring all brokerage firms in the state.