The Evolution of the Philadelphia Stock Exchange: 1964-2002
FRB of Philadelphia Working Paper No. 03-21
70 Pages Posted: 18 Aug 2004
Date Written: August 2003
This paper analyzes the evolution of the Philadelphia Stock Exchange (PHLX), America's oldest stock exchange, from 1964 through 2002. The paper seeks to explain how the PHLX managed to attract a sufficient volume of trading orders to support its members and cover its operating costs during this period, and how it adapted to survive in an era with profound changes in the structure of securities markets.
Keywords: Philadelphia Stock Exchange
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