Philadelphia Stock Exchange - PHLX

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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.




INVESTOPEDIA EXPLAINS '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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  6. What is the relationship between implied volatility and the volatility skew?

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