Editing Pacific Exchange (section)

==History==
Two separate exchanges were founded; the [[San Francisco Stock and Bond Exchange]] in 1882 and the [[Los Angeles Oil Exchange]] in 1899. In 1956, they merged to create the Pacific Coast Stock Exchange, though separate [[trading floor]]s were maintained in both cities. In 1973, it was renamed the Pacific Stock Exchange and it began trading [[Option (finance)|option]]s three years later in 1976.

In 1999, the exchange became the first U.S. stock exchange to [[Demutualization|demutualize]]. 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 the [[New York Stock Exchange]] in 2006.<ref name=nyt-merger-arca>{{Cite news| issn = 0362-4331| last = Anderson| first = Jenny| title = Market Owner Agrees to Buy Pacific Exchange| work = The New York Times| access-date = 2015-11-17| date = 2005-01-04| url = https://www.nytimes.com/2005/01/04/business/market-owner-agrees-to-buy-pacific-exchange.html| archive-url = https://web.archive.org/web/20150529171343/http://www.nytimes.com/2005/01/04/business/market-owner-agrees-to-buy-pacific-exchange.html| archive-date = 2015-05-29| url-status = live}}</ref>  The New York Stock Exchange conducts no business operations under the name Pacific Exchange, essentially ending its separate identity.{{Citation needed|date=March 2009}} Pacific Exchange equities and options trading now takes place exclusively through the [[NYSE Arca]] (formerly known as ArcaEx) platform, an [[Electronic communication network|Electronic communication network (ECN)]], as NYSE Arca Equities and NYSE Arca Options, respectively.