Frequently Asked Questions.

Who owns the Dream Exchange?

Dream Exchange is owned by DX Capital Partners, LLC and Dream Exchange, LLC. DX Capital Partners, LLC is the majority owner of the Dream Exchange. The Managing Member of DX Capital Partners is Dwain J. Kyles.

When will the Dream Exchange open? 

We are in the process of resubmitting our Form 1 application to the Securities and Exchange Commission. After approval and once operational, Dream Exchange will launch its fully licensed SEC-registered securities exchange, transacting in NMS Securities.

Can the Dream Exchange open without the Main Street Growth Act?

Yes, upon approval of the Securities and Exchange Commission, the Dream Exchange will open its fully registered stock exchange, which will transact in NMS Securities similar to the NASDAQ and NYSE.

In the meantime, Dream Exchange will continue to champion legislation similar to the Main Street Growth Act which will allow for the creation of venture exchanges that will list and trade early-stage, small-to-mid sized businesses.

How did Dream Exchange start?

Founder and CEO Joe Cecala was a securities lawyer for over 30 years and learned in-depth how stock exchanges work while he was part of the founding of a company that was a predecessor to one of the first electronic communications network (ECN) in the US. This ECN  ultimately purchased the Pacific Stock Exchange (which became known as the Archipelago Exchange) and was ultimately merged with the New York Stock Exchange to become what is now known as NYSE-Arca, one of the leading stock exchanges in the world.

Mr. Cecala worked on capital transactions where he was attempting to assist small, minority-led businesses get access to capital. At that time, he and a colleague, who ultimately became a professor at a major university and the director of research for the exchange, found that small capital transactions were particularly difficult because there was no clear exit in sight for the investor. After years of research, they discovered that the structure of US capital markets and current stock exchanges favored only the largest capitalized companies. Mr. Cecala’s research showed that prior to Archipelago, the overwhelming majority of IPOs have companies that were capitalized at $50 million and under, as opposed to today where the majority of IPOs are easily in the hundreds of millions (and even billions) of dollars. By 2004, small capital IPOs had all but disappeared.

As a result, Mr. Cecala founded Dream Exchange, LLC to solve these long-standing market problems by creating an entity to house a stock exchange to expand access to capital markets for small companies with great imaginations and ideas, while allowing members of the investing public to purchase securities in the entity.

Shortly after Dream Exchange’s founding, the Company wanted to emphasize its mission and formed an alliance with Dwain Kyles, the son of Rev Billy Kyles, a civil rights champion who was with Dr. Martin Luther King, Jr. when he was assassinated in Memphis.  Thereafter, Mr. Cecala’s Dream Exchange LLC became the minority owner of the entity that will house the stock exchange, while Mr. Kyle’s DX Capital Partners, LLC became the majority shareholder of that entity – emphasizing the access to the public markets by a  a minority-controlled capital provider, with plans to expand access to the underrepresented community with the creation of a venture exchange for small businesses once appropriate legislation is enacted into law.  With DX Capital Partners, LLC as the majority shareholder with its predominantly minority shareholders, the plans also included the creation of an exchange that transact in NMS Securities, thereby creating a registered stock exchange that would be under minority control for the first time in our nation’s history.

When will the Dream Exchange open?

Dream Exchange is currently preparing its application to become a registered stock exchange, transacting in NMS Securities. Further updates on our progress will be sent to our email list if you sign up using the form below.

Who can be a “member” of the Dream Exchange?

U.S. registered broker-dealers are eligible to become Members of Dream Exchange (Exchange), subject to the requirements of the Exchange Rule Book. Broker-dealers must be a member of another Self-Regulatory Organization (SRO) and maintain an active clearing relationship with an NSCC member clearing firm who is also a Member of the Exchange.

Does it cost anything to apply for membership?

No, the Dream Exchange does not presently intend to charge a fee for application.

How can my firm apply for membership?

Visit our Trading and Investing page and fill out the contact form at the bottom of the page and someone from our Membership team will reach out to you.

When will I be able to list my company on the Dream Exchange (DreamEx’s) initial exchange, transacting in NMS Securities?

We are beginning the process of surveying the market to form listing standards and rules for our initial securities exchange, which will be transacting in NMS Securities. Once our initial exchange is operational, we will use feedback from the marketplace to incorporate new listing rules and standards to further our mission.

Please fill out the form below to be kept abreast of all news related to this milestone. 

What types of companies will DreamEx list?

After our survey is completed and analyzed, Dream Exchange will focus on expanding its listings in NMS securities to include smaller companies with a concentration on underserved markets, especially those with innovative products and services, consistent with its mission.

The listing rules, which will be consistent with the survey results, will create a platform that will align with our Company’s goals: to help capital formation for companies with products that increase our ability to survive and flourish on our planet. 

Please fill out the form below to be kept abreast of all news related to this milestone. 

How do I list my company on the Dream Exchange?

Dream Exchange is not currently operational as a stock exchange. We will be issuing more information about the listing process after it formulates the appropriate rules. 

Please fill out the form below to be kept abreast of all news related to this milestone. 

What is the difference between a stock exchange transacting in NMS Securities and a venture exchange?

DreamEx’s initial exchange will be transacting in NMS Securities and will operate very similar to the current stock exchanges, like the Nasdaq Exchange and the NYSE.

In contrast, when legislation similar to the Main Street Growth Act is enacted into law creating venture exchanges, these brand-new type of stock exchanges will expand the stock exchange environment to include small-to-mid sized companies, providing access to investment, liquidity, transparency, and improved regulation in this new marketplace. 

When will the Venture Exchange be open?

In order to create the first venture exchange, legislation similar to the Main Street Growth Act must be passed by Congress and enacted into law. Once enacted, legislation like the Main Street Growth Act will allow for venture exchanges to exist. 

How do I invest in companies on the DreamEx Venture Exchange?

There are no current entities that are authorized to operate a venture exchange, including the Dream Exchange, because the necessary law has not yet been passed. More information about the process to begin investing in listed companies on our venture exchange will be published after legislation similar to the Main Street Growth Act has been enacted into law and the Dream Exchange’s venture exchange rules are approved by the regulators. 

Please fill out the form below to be notified about milestones in our progress toward opening. 

What is the difference between a stock exchange transacting in NMS Securities and a venture exchange?

DreamEx’s initial exchange will be transacting in NMS Securities and will operate very similar to the current stock exchanges, like the Nasdaq Exchange and the NYSE.

In contrast, when legislation similar to the Main Street Growth Act is enacted into law creating venture exchanges, these brand-new type of stock exchanges will expand the stock exchange environment to include small-to-mid sized companies, providing access to investment, liquidity, transparency, and improved regulation in this new marketplace. 

When will the Venture Exchange be open?

In order to create the first venture exchange, legislation similar to the Main Street Growth Act must be passed by Congress and enacted into law. Once enacted, legislation like the Main Street Growth Act will allow for venture exchanges to exist. 

How do I list my company on the venture exchange

There are no current entities that are authorized to operate a venture exchange, including the Dream Exchange, because the requisite law has not yet been passed. More information about the process to begin listing companies on our venture exchange will be published after legislation similar to the Main Street Growth Act has been enacted into law and the Dream Exchange’s venture exchange rules are approved by the regulators. 

Please fill out the form below to be kept abreast of all news related to this milestone.