Pacific Exchange - PCX
Categories: Trading
You've probably heard of the NYSE and the NASDAQ. Those are the big-name stock exchanges. However, there are a series of regional exchanges that used to provide important equity trading functions.
The Pacific Exchange was one of these. It started out as the San Francisco Stock and Bond Exchange in the 1880s. It combined with an exchange in L.A. during the 1950s and, after a name change in the 1970s, became known as the Pacific Stock Exchange.
The PCX lost juice as U.S. equity trading consolidated in New York during the later part of the 20th Century. Its trading floors closed in the early 2000s, and it switched to a strategy focused on electronic options trading. In 2005, it was purchased by electronic exchange Archipelago and, after a subsequent merger, became part of the NYSE in 2006.
