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.

BREAKING DOWN '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. Options Price Reporting Authority ...

    A committee of representatives from participating exchanges responsible ...
  2. Archipelago

    An electronic communications network (ECN) that merged with the ...
  3. NYSE Arca

    A securities exchange in the U.S. on which stocks and options ...
  4. New York Stock Exchange - NYSE

    A stock exchange based in New York City, which is considered ...
  5. Equity Market

    The market in which shares are issued and traded, either through ...
  6. Exchange

    A marketplace in which securities, commodities, derivatives and ...
Related Articles
  1. Personal Finance

    How Much Money Do You Need to Live in San Francisco?

    Learn how much it costs to live in San Francisco and how the amount varies based on whether you are a student, a professional or an unemployed job-seeker.
  2. Personal Finance

    Where To Change Money in San Francisco

    The San Francisco airport and your hotel are convenient, but to save money use an ATM or your credit card.
  3. Personal Finance

    How Much Money Do You Need to Live in Los Angeles?

    Learn how much money it takes to live in Los Angeles and how that amount varies based on whether you are a student, professional or unemployed job-seeker.
  4. Personal Finance

    Traveling to San Francisco on a Budget

    Discover how to vacation in San Francisco on a budget, and learn about the abundance of entertainment the city offers at little to no cost.
  5. Managing Wealth

    The 10 Most Expensive ZIP Codes in San Francisco

    In addition to its expensive home market, San Francisco has an increasingly competitive rental market, with quick turnaround in both.
  6. Insights

    What's an Exchange?

    An exchange is an organized marketplace where securities and other financial instruments are traded.
  7. Managing Wealth

    The Most Expensive Neighborhoods in San Francisco

    Learn about the city of San Francisco and why rent has increased so much in the past eight years. Discover more about the top five most expensive neighborhoods.
  8. Insights

    Top 5 Cities with the Highest Inflation in the US

    Find out which American cities are hit hardest by inflation, and why California residents find themselves in a bigger pinch than anyone else.
  9. Investing

    San Francisco Home Prices Fall for First Time in Four Years

    San Francisco home prices fall 1.8% in Q1. The first drop in four years.
  10. Investing

    Stock Exchanges: A Global Tour

    Check out the history and inner workings of the world's six most well-known stock exchanges.
RELATED FAQS
  1. Why are traders on the floor of the exchange?

    Before the advent of electronic trading platforms, the floor of the stock exchange was the location for market transactions ... Read Answer >>
  2. What are all of the securities markets in the U.S.A?

    There are three major U.S. financial securities markets which are: New York Stock Exchange (NYSE): NYSE is a stock exchange ... Read Answer >>
  3. How can I find out which stocks also trade as options?

    The trading of options has become increasingly popular among retail investors as they become aware of the many different ... Read Answer >>
  4. What does it mean when my broker says that shares are for auction?

    An auction market is one in which stock buyers enter competitive bids and stock sellers enter competitive offers at the same ... Read Answer >>
  5. 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 Answer >>
  6. How does a company switch from one stock exchange to another?

    A publicly traded company can, in fact, switch to a stock exchange that it believes will be favorable to its financing efforts. ... Read Answer >>
Hot Definitions
  1. Cash Flow

    The net amount of cash and cash-equivalents moving into and out of a business. Positive cash flow indicates that a company's ...
  2. PLUS Loan

    A low-cost student loan offered to parents of students currently enrolled in post-secondary education. With a PLUS Loan, ...
  3. Graduate Record Examination - GRE

    A standardized exam used to measure one's aptitude for abstract thinking in the areas of analytical writing, mathematics ...
  4. Graduate Management Admission Test - GMAT

    A standardized test intended to measure a test taker's aptitude in mathematics and the English language. The GMAT is most ...
  5. Magna Cum Laude

    An academic level of distinction used by educational institutions to signify an academic degree which was received "with ...
  6. Cover Letter

    A written document submitted with a job application explaining the applicant's credentials and interest in the open position. ...
Trading Center