Scottish Stock Exchange

{{Short description|Defunct organisations}}

File:Urban Outfitters, formerly Glasgow Stock Exchange - geograph.org.uk - 5483336.jpg

{{Use dmy dates|date=April 2022}}

The Scottish Stock Exchange was a stock exchange which started trading on 2 January 1964 following a merger of the four main stock exchanges in Scotland: the Edinburgh Stock Exchange, Glasgow Stock Exchange, Dundee Stock Exchange, and Aberdeen Stock Exchange.{{cite news|work=The Herald|date=5 December 1963|url=https://news.google.com/newspapers?id=c1xAAAAAIBAJ&sjid=pKMMAAAAIBAJ&dq=scottish%20stock%20exchange&pg=2954%2C512884|title=Statement Soon on Stock Exchange}} The main secretariat of the exchange was in Glasgow, while the Edinburgh, Dundee, and Aberdeen exchanges operated as local branches{{cite news|work=The Herald|date=30 April 1963|url=https://news.google.com/newspapers?id=uGxAAAAAIBAJ&sjid=kaMMAAAAIBAJ&dq=scottish-stock-exchange&pg=4493%2C4607990|title=All Deals Marked}} until 1971, when the local exchanges closed completely.{{cite web|url=http://www.dundee.ac.uk/archives/ms069.htm|title=Archives: MS 69 (University of Dundee)|access-date=9 August 2013|archive-url=https://web.archive.org/web/20051229014519/http://www.dundee.ac.uk/archives/ms069.htm|archive-date=29 December 2005|url-status=dead|df=dmy-all}}

During the construction of the new Scottish Stock Exchange building in St George's Place, Glasgow, the exchange was housed in a converted warehouse on Ingram Street. The new building was opened after two years' work on 13 April 1971.{{cite news|work=Evening Times|date=12 April 1971|url=https://news.google.com/newspapers?id=-exAAAAAIBAJ&sjid=UKcMAAAAIBAJ&dq=scottish-stock-exchange&pg=4084%2C5890718|title=Stock exchange latest-it's luxury!}}

In 1973, the Scottish Stock Exchange merged into the London Stock Exchange.{{cite web|url=http://www.heraldscotland.com/news/home-news/calls-for-scotland-to-have-its-own-stock-exchange-1.1045699|title=Calls for Scotland to have its own stock exchange|date=4 August 2010|access-date=9 August 2013}}

Since then, there have been calls to re-establish an independent stock exchange in Scotland.{{cite web|url=http://uk.reuters.com/article/uk-markets-europe-scotland-analysis-idUKTRE5BL32K20091222|archive-url=https://web.archive.org/web/20160307033617/http://uk.reuters.com/article/uk-markets-europe-scotland-analysis-idUKTRE5BL32K20091222|url-status=dead|archive-date=7 March 2016|title=Limited buy-in for Scottish stock exchange|date=22 December 2009|access-date=9 August 2013}}

In 2016, plans were announced for the establishment of a Scottish Stock Exchange by a group of ex-NASDAQ traders and Scottish investors to be based in Edinburgh. The announcement was made after the referendum on the UK's membership of the EU.{{cite web|url=http://www.heraldscotland.com/news/homenews/14591154.Ex_Nasdaq_traders_bid_to_launch_new_stock_exchange_in_Scotland_by_2017/?ref=rss|title=Ex-Nasdaq traders bid to launch new stock exchange in Scotland by 2017|date=30 June 2016|access-date=1 July 2016}}

In 2018, fresh plans for a Scottish Stock Exchange were unveiled when businessman Tomás Carruthers announced a deal with Euronext to provide its Optiq software platform for a virtual exchange based in Scotland, tentatively known as Bourse Scot.{{cite news|url=https://www.bbc.co.uk/news/uk-scotland-scotland-business-46515923|title=Businessman plans Scottish stock exchange|work=BBC News |date=11 December 2018|access-date=8 May 2019}} Background research {{cite web|url=http://www.momentouschangeltd.co.uk/images/news/2018/Final-Report---Stock-Exchange.pdf|title=Early Background Research|date=November 2018 |access-date=10 May 2019}} published in November 2018 was positively reviewed in Forbes magazine.{{cite web|url=https://www.forbes.com/sites/rogeraitken/2018/12/14/plans-to-launch-scottish-stock-exchange-can-project-heather-succeed/#4175d9e773f4|title=Can Project Heather Succeed?|website=Forbes |date=14 December 2018|access-date=10 May 2019}} Further details were disclosed at an event in March 2019 {{cite web|url=https://dailybusinessgroup.co.uk/2019/03/scottish-stock-exchange-close-to-accepting-first-firms|title=Scottish Stock Exchange close to accepting first firms|date=7 March 2019|access-date=8 May 2019}} with news of funding arranged with the accountancy and business advisory firm, AAB {{cite web|url=https://www.fnlondon.com/articles/scotland-moves-closer-to-first-stock-exchange-in-50-years-20190423|title=Scotland moves closer to first stock exchange in 50 years|date=23 April 2019|access-date=8 May 2019}} once FCA approval is gained.{{cite web|url=https://ukinvestormagazine.co.uk/project-heather-plans-scottish-stock-exchange|title=Project Heather plans Scottish Stock Exchange|date=10 April 2019|access-date=8 May 2019}} On 9 May 2019 it was announced that Scottish Enterprise had awarded a £750,000 Regional Selective Assistance grant to Project Heather in support of 45 highly skilled jobs {{cite web|url=https://www.insider.co.uk/news/scottish-stock-market-gets-750000-15019900|title=Scottish stock market gets £750,000 government grant|date=9 May 2019 |access-date=10 May 2019}} However, the scheme collapsed later in the year leaving employees unpaid.{{cite news |last1=Murden |first1=Terry |title=Stock Exchange plan scuppered by funding failure – Daily Business |url=https://dailybusinessgroup.co.uk/2019/12/stock-exchange-plan-scuppered-by-funding-failure/amp/ |work=Daily Business |date=22 December 2019}}