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 The former San Francisco Stock Exchange building | |
| Type | Stock exchange |
|---|---|
| Location | San Francisco andLos Angeles,United States |
| Coordinates | 37°47′31″N122°24′05″W / 37.7919°N 122.4013°W /37.7919; -122.4013 |
| Founded | 1956 |
| Closed | 2006 |
| Owner | Archipelago Holdings(2005) New York Stock Exchange(2006) |
| Currency | United States dollar |
| Website | pacificex.com |
ThePacific Exchange was an Americanregional stock exchange inCalifornia, from 1956 to 2006. Its main exchange floor and building were inSan Francisco, California, with a branch building inLos Angeles, California.
In 1882, theSan Francisco Stock and Bond Exchange was founded; and in 1899 the Los Angeles Oil Exchange was founded. In 1956, these two exchanges merged to create thePacific Coast Stock Exchange, withtrading floors maintained in both cities.
In 1973, it was renamed thePacific Stock Exchange. The Pacific Exchange was bought byArchipelago Holdings in 2005, which merged with theNew York Stock Exchange in 2006.[1] Pacific Exchange equities and options trading now take place exclusively through theNYSE Arca platform.
Two separate exchanges were founded; theSan Francisco Stock and Bond Exchange in 1882 and theLos Angeles Oil Exchange in 1899. In 1956, they merged to create the Pacific Coast Stock Exchange, though separatetrading floors were maintained in both cities. In 1973, it was renamed the Pacific Stock Exchange and it began tradingoptions three years later in 1976.
In 1999, the exchange became the first U.S. stock exchange todemutualize. The trading floor in Los Angeles was closed in 2001, followed by the floor in San Francisco a year later. 2003 saw the exchange launch PCX Plus, an electronic options trading platform.
By 2005, the Pacific Exchange was bought by the owner of the ArcaEx platform,Archipelago Holdings, which then merged with theNew York Stock Exchange in 2006.[1] The New York Stock Exchange conducts no business operations under the name Pacific Exchange, essentially ending its separate identity.[citation needed] Pacific Exchange equities and options trading now takes place exclusively through theNYSE Arca (formerly known as ArcaEx) platform, anElectronic communication network (ECN), as NYSE Arca Equities and NYSE Arca Options, respectively.
The San Francisco Pacific Exchange building, which once housed the equities trading floor, is located on Pine Street at the corner of Sansome Street in theFinancial District in San Francisco. The building was initially designed in aneoclassical style by architectMilton Dyer in 1915.[2]
It was remodeled in 1930 by the firms Miller and Pflueger, architectsJames Rupert Miller andTimothy Pflueger; and the interior design was done by architect Michael Goodman.[3][2] The exterior building sculptures were created in Yosemitegranite by artistRalph Stackpole.[3][2] Sketches made by Pflueger for the remodel of this building can be found in the permanent collection atSan Francisco Museum of Modern Art.[4] After the 1930 remodeling, the building was in an Art DecoModerne style, with its street facade was clad inYule marble.
The building was sold to private developers and converted byEquinox Fitness into a fitness center.[5][when?]
An options trading floor in the city of San Francisco still operates in the adjacentMills Building on the second floor.[5] It was originally connected to the main building and underwent an expansion in September 1984 and expanded again in the mid-1990s with major changes to the layout.
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