May 10, 2019 / 5:26 PM / 15 days ago

U.S. regulators approve new Silicon Valley stock exchange

SAN FRANCISCO, May 10 (Reuters) - U.S. regulators have approved a new stock exchange that is the brainchild of a Silicon Valley entrepreneur, an action that will give high-growth technology companies more options to list their shares outside of the traditional New York exchanges.

The U.S. Securities and Exchange Commission on Friday approved the creation of the Long-Term Stock Exchange, or LTSE, a California-based national securities exchange promoting what it says is a unique approach to governance and voting rights, while reducing short-term pressures on public companies. (Reporting by Heather Somerville; Editing by Steve Orlofsky)

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