11 December 2017
visit www.solutions.lexisnexis.com

Pacific Exchange moves to Archipelago electronic trading

25 March 2002  |  2897 views  |  0 Pacific Exchange moves to Archipelago electronic trading

The Pacific Exchange (PCX) has officially closed its San Francisco equities floor and moved its trading operations to the fully electronic Archipelago Exchange (ArcaEx).

Initially, ArcaEx will trade 27 issues that are exclusively listed on the Pacific Exchange. Investors can continue to access and trade all other listed stocks and Nasdaq securities on the Archipelago ECN, as they do today.

The ArcaEx roster will be expanded to include listed stocks from the American and New York stock exchanges over the next few weeks. Nasdaq issues are scheduled to be added to ArcaEx by the end of the year.

Calling time on floor-based trading, Philip DeFeo, PCX Chairman and CEO, says: "Given technology's advances, we decided that the Exchange and its members would be better served in a fully electronic environment, one that provides traders the ability to access the market from any location in the world, one that eliminates the cost and inefficiency of unneeded real estate."
KeywordsBUY SIDE

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.atos.netvisit www.solutions.lexisnexis.comvisit www.aciworldwide.com

Who is commenting?

Top topics

Most viewed Most shared
Revolut lets customers buy Bitcoin, Litecoin and EthereumRevolut lets customers buy Bitcoin, Liteco...
18513 views comments | 26 tweets | 22 linkedin
Saxo Bank's 'Outrageous Prediction': Bitcoin to peak at $60k next year before spectacular crashSaxo Bank's 'Outrageous Prediction': Bitco...
11413 views comments | 7 tweets | 7 linkedin
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
7852 views comments | 15 tweets | 21 linkedin
Santander UK poaches Barclays innovation chief Michael HarteSantander UK poaches Barclays innovation c...
6652 views comments | 8 tweets | 17 linkedin
Alior Bank to use Open API platform and accelerator to create fintech marketplaceAlior Bank to use Open API platform and ac...
6080 views comments | 19 tweets | 10 linkedin

Featured job

to £70K base, £105K ote, benefits
London, UK

Find your next job