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. Options Clearing Corporation - ...

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

    A financial derivative that represents a contract sold by one ...
  4. Clearing Member Trade Agreement ...

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

    A non-bank person or organization that trades securities in large ...
  6. Regional Stock Exchange

    A place outside of a country's primary financial center where ...
RELATED FAQS
  1. Why do option volume quotes differ on different websites?

    Option quotes are different in price and in volume because identical options can trade on more than one market or exchange. ... Read Full Answer >>
  2. Why would a corporation issue convertible bonds?

    A convertible bond represents a hybrid security that has bond and equity features; this type of bond allows the conversion ... Read Full Answer >>
  3. How does a forward contract differ from a call option?

    Forward contracts and call options are different financial instruments that allow two parties to purchase or sell assets ... Read Full Answer >>
  4. What is the difference between a greenfield investment and a regular investment?

    A greenfield investment is a particular type of investment where an international company begins a new operation in a foreign ... Read Full Answer >>
  5. What are the benefits for a company investing in a greenfield investment?

    Advantages of greenfield investments include increased control, the ability to form marketing partnerships and the avoidance ... Read Full Answer >>
  6. Why did China designated certain territories as special administrative regions?

    The primary reason for the People's Republic of China designating two territories as special administrative regions, or SARs, ... Read Full Answer >>
Related Articles
  1. Options & Futures

    Getting To Know The Stock Exchanges

    Here are the answers to all the questions you have about stock exchanges but are too afraid to ask!
  2. Options & Futures

    Options Basics Tutorial

    Discover the world of options, from primary concepts to how options work and why you might use them.
  3. Retirement

    Electronic Trading Tutorial

    Learn about the systems that run the market. Topics include market makers, specialists, SuperDOT, ECNs, SOES, Level I, II, and III Access, and more.
  4. Mutual Funds & ETFs

    The Top 3 ETFs For Investing in Mexico

    Discover some of the most popular exchange-traded funds available that offer investors exposure to the economy and stocks of Mexico.
  5. Mutual Funds & ETFs

    ETF Analysis: iShares MSCI EAFE Index

    Discover how the iShares MSCI EAFE Index ETF is managed, and learn which investors may benefit from adding the fund to a portfolio.
  6. Mutual Funds & ETFs

    The Top 3 ETFs For Investing in Hong Kong

    Discover information and analysis of three exchange traded funds that investors can use to access potential profits from investing in Hong Kong.
  7. Mutual Funds & ETFs

    The Top 3 ETFs For Investing in Canada

    Learn specific information about three of the most popular and best performing ETFs that offer exposure to Canadian equity markets for U.S. investors.
  8. Mutual Funds & ETFs

    ETF Analysis: Vanguard International Stock

    Discover how the Vanguard Total International Stock ETF is managed, and learn which investors may find it suitable as part of a diversified portfolio.
  9. Mutual Funds & ETFs

    The Top 3 ETFs For Investing in England

    Discover how beneficial ETFs are for investors looking for exposure to the English economy, and find information on three popular U.K. ETFs.
  10. Mutual Funds & ETFs

    The Top 3 ETFs For Investing in France

    Discover how investors can use exchange traded funds (ETFs) to easily obtain exposure to equities of major companies domiciled in France.

You May Also Like

Hot Definitions
  1. Dog And Pony Show

    A colloquial term that generally refers to a presentation or seminar to market new products or services to potential buyers.
  2. Topless Meeting

    A meeting in which participants are not allowed to use laptops. A topless meeting organizer can also ban the use of smartphones, ...
  3. Hedging Transaction

    A type of transaction that limits investment risk with the use of derivatives, such as options and futures contracts. Hedging ...
  4. Bogey

    A buzzword that refers to a benchmark used to evaluate a fund's performance. The benchmark is an index that reflects the ...
  5. Xetra

    An all-electronic trading system based in Frankfurt, Germany. Launched in 1997 and operated by the Deutsche Börse, the Xetra ...
  6. Nuncupative Will

    A verbal will that must have two witnesses and can only deal with the distribution of personal property. A nuncupative will ...
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!