Philadelphia Stock Exchange - Investment & Finance Definition
The first organized stock exchange in the United States, founded in 1790. The exchange trades more than 2,200 stocks, over 1,180 equity options, 13 index options, and multiple currency pairs. The PHLX’s Philadelphia Automated Communi- cation and Execution system (PACE) was one of the first automated equity trading systems on any exchange.
The PHLX offers popular index options such as the Oil Service Sector (OSX) Index Option, which is a widely quoted benchmark of the oil industry. Other popular industry benchmark indices include the PHLX’s Gold/Silver Sector (XAU); the Semiconductor Sector (SOX); the KBW Bank Sector (BKX); and the Utility Sector (UTY).
The PHLX also trades both standardized and customized currency options. Custom-ized currency options offer choice of expiration date, strike (exercise) price, and premium payment.