Stock Market Guide to the Arizona Stock Exchange
The whole idea behind the AZX was that of allowing buyers and sellers of equities to trade directly with each other. This would mean that there would be no need for intermediation by a broker or dealer. In facilitating such direct trade, the AZX reduced costs and made price more stable and more fair. Unfortunately the concepts behind the AZX were a bit ahead of their time and other, better established and more successful electronic communication networks achieved better success in this regard in later years. The AZX closed down in 2001 due to lack of volume. Fortunately the state of Arizona has not suffered much from this loss.
Many known Arizona as a place of sand and cacti. While the state definitely dies enjoy a dessert landscape, it is not parched financially. The gross state product for 2004 was $187 billion and the state is currently listed as having the 21st largest economy in the United States. At one point in the state’s history, Arizona was the largest producer of cotton in the country. It also relies on copper mining, cattle ranching, citrus farming and tourism for economic growth. Each of these industries are still very much in force and are contributing to the states economy on a fairly large scale. The majority of people are employed by the state government though Wal-Mart is the state’s largest private employer.