Editing Pacific Exchange

{{Short description|Defunct American regional stock exchange in California (1956–2006)}}
{{More citations needed|date=December 2015}}
{{Infobox exchange
|name       = Pacific Exchange
|logo       = Pacific Exchange logo.png
|logo_size  = 200
|image      = Image:Pacific Exchange 301 Pine.jpg
|image_caption = The former San Francisco Stock Exchange building
|type       = [[Stock exchange]]
|city       = [[San Francisco]] and [[Los Angeles]]
|country    = [[United States]]
|coor       = {{coord|37.7919|-122.4013|type:landmark_region:US-CA|display=inline}}
|foundation = 1956
|closed     = 2006
|owner      = [[Archipelago Holdings]] <small>(2005)</small><br>[[New York Stock Exchange]] <small>(2006)</small>
|currency   = [[United States dollar]]
|homepage   = {{URL|https://web.archive.org/web/20050831205419/http://www.pacificex.com/|pacificex.com}}
}}

The '''Pacific Exchange''' was an American [[regional stock exchange]] in [[California]], from 1956 to 2006. Its main exchange floor and building were in [[San Francisco, California]], with a branch building in [[Los Angeles, California]].

In 1882, the [[San 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 the '''Pacific Coast Stock Exchange''', with [[trading floor]]s maintained in both cities.

In 1973, it was renamed the '''Pacific Stock Exchange'''. The Pacific Exchange was bought by [[Archipelago Holdings]] in 2005, which merged with the [[New York Stock Exchange]] in 2006.<ref name="nyt-merger-arca" /> Pacific Exchange equities and options trading now take place exclusively through the [[NYSE Arca]] platform.

==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.

==San Francisco Pacific Exchange building history==
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 the [[Financial District, San Francisco|Financial District]] in San Francisco. The building was initially designed in a [[Neoclassical architecture|neoclassical style]] by architect [[Milton Dyer]] in 1915.<ref name=":0">{{Cite web|title=Pacific Coast Stock Exchange|url=https://noehill.com/sf/landmarks/poi_pacific_coast_stock_exchange.asp|url-status=live|access-date=2021-09-13|website=NoeHill.com|archive-date=2021-09-13|archive-url=https://web.archive.org/web/20210913231842/https://noehill.com/sf/landmarks/poi_pacific_coast_stock_exchange.asp}}</ref> 

It was remodeled in 1930 by the firms Miller and Pflueger, architects [[James Rupert Miller]] and [[Timothy L. Pflueger|Timothy Pflueger]]; and the interior design was done by architect Michael Goodman.<ref name=":1">{{Cite web|last=Michelson|first=Alan|title=Pacific Coast Stock Exchange, Club, San Francisco, CA|url=http://pcad.lib.washington.edu/building/1023/|url-status=live|website=Pacific Coast Architecture Database (PCAD)|access-date=2021-09-13|archive-date=2021-09-13|archive-url=https://web.archive.org/web/20210913231841/http://pcad.lib.washington.edu/building/1023/}}</ref><ref name=":0" /> The exterior building sculptures were created in Yosemite [[granite]] by artist [[Ralph Stackpole]].<ref name=":1" /><ref name=":0" /> Sketches made by Pflueger for the remodel of this building can be found in the permanent collection at [[San Francisco Museum of Modern Art]].<ref>{{Cite web|title=Trading Floor sketch from the Pacific Stock Exchange project, J. R. Miller & T. L. Pflueger, Architects|url=https://www.sfmoma.org/artwork/2000-424/|access-date=2021-09-13|website=SFMOMA|language=en-US}}</ref> After the 1930 remodeling, the building was in an Art Deco [[PWA Moderne|Moderne style]], with its street facade was clad in [[Yule marble]].

The building was sold to private developers and converted by [[Equinox Fitness]] into a fitness center.<ref name=":2" />{{When|date=September 2021}}

==Mills Building==
{{See also|Mills Building and Tower}}
An options trading floor in the city of San Francisco still operates in the adjacent [[Mills Building (San Francisco)|Mills Building]] on the second floor.<ref name=":2">{{Cite web|date=2011-06-07|title=SFist Remembers: Pacific Stock Exchange|url=https://sfist.com/2011/06/07/sfist_remembers_pacific_stock_excha/|url-status=dead|access-date=2021-09-13|website=SFist|language=en|archive-date=2021-09-13|archive-url=https://web.archive.org/web/20210913231842/https://sfist.com/2011/06/07/sfist_remembers_pacific_stock_excha/}}</ref> 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.

==See also==
{{portal|Business and economics}} 
*[[Los Angeles Stock Exchange Building]]
*[[List of former stock exchanges in the Americas]] 
* [[List of stock exchange mergers in the Americas]]  
* {{C|Moderne architecture in California}}
* {{C|Stock exchanges in the United States}}

==References==
{{Reflist}}

==External links==
* [http://www.sfgate.com/default/article/Exchange-Ending-an-Era-Pacific-is-phasing-out-2942842.php San Francisco Chronicle: "Exchange Ending an Era. Pacific is phasing out its historic stock trading floor."] (March 9, 1999)
* [https://www.youtube.com/watch?v=ciaSQgWDDD0 Youtube.com: SF options floor live trading in 1997] — ''filmed by a floor broker''.
* [https://www.youtube.com/watch?v=tVfVNS_aa8o First Cut episode: "What options trading really is"]

{{Authority control}}

[[Category:Former stock exchanges in the United States]]
[[Category:Buildings and structures in San Francisco]]
[[Category:Buildings and structures in Downtown Los Angeles]]
[[Category:Economy of Los Angeles]]
[[Category:Economy of San Francisco]]
[[Category:Self-regulatory organizations in the United States]]
[[Category:Buildings and structures completed in 1930]]
[[Category:Buildings and structures completed in 1931]]
[[Category:1930s architecture in the United States]]
[[Category:Moderne architecture in California]]
[[Category:2006 disestablishments]]