Pacific Exchange (PCX)
What is the Pacific Exchange (PCX)?
How Does the Pacific Exchange (PCX) Work?
Founded in 1882, the PCX used to be a trading floor in San Francisco. In 1957, it merged with the Los Angeles Oil Exchange. It used the open-outcry method of trading, which quickly became outdated when computerized trading rippled through the industry in the 1990s. It was acquired in 2000 by the Archipelago Exchange, which later merged with the New York Exchange. Though the NYSE operates the PCX Plus options-trading platform, the Pacific Exchange has essentially ceased to exist.
Why Does the Pacific Exchange (PCX) Matter?
The New York equity exchanges in the United States -- they're just a survivors. Stock exchanges are merely marketplaces, much like grocery stores or shopping malls, where investors can go to buy and sell goods. The prices that the exchanges charged for trading and the speed and accuracy at which one could trade on these regional exchanges were the of competitive advantage that wooed many companies to list their regionally.
Personalized Financial Plans for an Uncertain Market
In today’s uncertain market, investors are looking for answers to help them grow and protect their savings. So we partnered with Vanguard Advisers -- one of the most trusted names in finance -- to offer you a financial plan built to withstand a variety of market and economic conditions. A Vanguard advisor will craft your customized plan and then manage your savings, giving you more confidence to help you meet your goals. Click here to get started.