Pacific Exchange - PCX

AAA

DEFINITION of 'Pacific Exchange - PCX'

An exchange network that coordinates the trading of stock options between both institutional and individual investors. The PCX was one of four U.S. exchanges to trade equity options and the first to develop and implement an electronic trading system. At one time, the PCX had operations in both Los Angeles and San Francisco, but both closed in early 2000 when the PCX partnered with the Archipelago Exchange. ArcaEx later merged with the New York Stock Exchange and PCX transactions are now conducted on the NYSE Arca platform.

INVESTOPEDIA EXPLAINS 'Pacific Exchange - PCX'

PCX was originally formed in San Francisco in 1882 as the Stock and Bond Exchange. It officially got its name in 1957 when the San Francisco and Los Angeles stock exchanges merged. For years, the PCX was a mainstay in San Francisco's financial district, but its open outcry system of trading became archaic with the advent of computers and computer trading. It ceased operations in 2005.

RELATED TERMS
  1. Electronic Communication Network ...

    An electronic system that attempts to eliminate the role of a ...
  2. Clearing Member Trade Agreement ...

    An agreement by which an investor may enter derivative trades ...
  3. Institutional Investor

    A non-bank person or organization that trades securities in large ...
  4. Options Clearing Corporation - ...

    An organization that acts as both the issuer and guarantor for ...
  5. Option

    A financial derivative that represents a contract sold by one ...
  6. Regional Stock Exchange

    A place outside of a country's primary financial center where ...
Related Articles
  1. Getting To Know The Stock Exchanges
    Options & Futures

    Getting To Know The Stock Exchanges

  2. Options Basics Tutorial
    Options & Futures

    Options Basics Tutorial

  3. Why do option volume quotes differ on ...
    Options & Futures

    Why do option volume quotes differ on ...

  4. Electronic Trading Tutorial
    Retirement

    Electronic Trading Tutorial

Hot Definitions
  1. Hyperinflation

    Extremely rapid or out of control inflation. There is no precise numerical definition to hyperinflation. Hyperinflation is ...
  2. Gross Rate Of Return

    The total rate of return on an investment before the deduction of any fees or expenses. The gross rate of return is quoted ...
  3. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
  4. Leading Indicator

    A measurable economic factor that changes before the economy starts to follow a particular pattern or trend. Leading indicators ...
  5. Wage-Price Spiral

    A macroeconomic theory to explain the cause-and-effect relationship between rising wages and rising prices, or inflation. ...
  6. Accelerated Depreciation

    Any method of depreciation used for accounting or income tax purposes that allows greater deductions in the earlier years ...
Trading Center