Philadelphia Stock Exchange - PHLX

DEFINITION of 'Philadelphia Stock Exchange - PHLX'

The first securities exchange to be formed in the United States. The Philadelphia Stock Exchange (PHLX) was created in 1790, and it trades equity, currency and index options. Their currency options can be either standard or customized.




BREAKING DOWN 'Philadelphia Stock Exchange - PHLX'

In 2008 the Nasdaq bought the PHLX and changed the stock exchange's focus to options. it currently trades in more than 2600 U.S. dollar-settled options, sector index options and equity options. Also, it is currently the third-largest options market in the United States.

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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. What is a derivative?

    A derivative is a contract between two or more parties whose value is based on an agreed-upon underlying financial asset, ... Read Full Answer >>
  3. What is after-hours trading? Am I able to trade at this time?

    After-hours trading (AHT) refers to the buying and selling of securities on major exchanges outside of specified regular ... Read Full Answer >>
  4. How do hedge funds use equity options?

    With the growth in the size and number of hedge funds over the past decade, the interest in how these funds go about generating ... Read Full Answer >>
  5. Can mutual funds invest in options and futures? (RYMBX, GATEX)

    Mutual funds invest in not only stocks and fixed-income securities but also options and futures. There exists a separate ... Read Full Answer >>
  6. 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 >>
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