The New Castle County Council yesterday okayed $15 million in bonds to help establish a stock exchange in Wilmington.
Nick Niehoff, president and chief executive of Delaware Board of Trade Holdings Incorporated, said that there is no competitor to what the company was offering to establish.
The exchange would provide place for small and medium sized companies that do not qualify for Nasdaq.
In addition, there would be another trading system for U.S. and foreign securities to be done electronically.
The exchange would create 25 to 50 jobs with an average salary of around $136-thousand and the expectation that the number of positions could go as high as 125.
The county will receive a half a percent on the principle amount of the bonds as a fee.
