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.

  1. Nasdaq

    A global electronic marketplace for buying and selling securities, ...
  2. PHLX Housing Sector Index - HGX

    An index that tracks approximately 20 companies that work directly ...
  3. Day Trader

    A investor who attempts to profit by making rapid trades intraday. ...
  4. Options Clearing Corporation - ...

    An organization that acts as both the issuer and guarantor for ...
  5. Floor Trader - FT

    An exchange member who executes transactions from the floor of ...
  6. Clearing Member Trade Agreement ...

    An agreement by which an investor may enter derivative trades ...
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  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. 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 >>
  3. Can mutual funds invest in options and futures?

    Mutual funds invest in not only stocks and fixed-income securities but also options and futures. There exists a separate ... Read Full Answer >>
  4. 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 >>
  5. 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 >>
  6. How can an investor profit from a fall in the utilities sector?

    The utilities sector exhibits a high degree of stability compared to the broader market. This makes it best-suited for buy-and-hold ... Read Full Answer >>

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