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About the NASDAQ OMX PHLX
NASDAQ OMX PHLX (formerly the Philadelphia Stock Exchange) is the oldest stock exchange in the United States. Headquartered in Philadelphia, Pennsylvania, the exchange specialises in trading stocks, forex, and indices. Read on to learn about the history of NASDAQ OMX PHLX, the top stocks on the exchange, notable recent risers and fallers, and more.
The Philadelphia Stock Exchange has a long history dating back to the founding of the Republic. The ‘Board of Brokers of Philadelphia’ was formed in 1790 and became known as the Philadelphia Stock Exchange in 1875.
The 20th century would bring a number of mergers and reorganisations as the exchange continued to grow. More recently, some of the largest brokerage firms in the United States bought an 89% stake in the exchange in 2005 to try to ward off excessive consolidation by NASDAQ and NYSE.
That did not dissuade NASDAQ however. In 2007, NASDAQ bought the exchange for $652 million, in the process shifting its focus away from equities and more towards options, creating the third-largest options market in the US. The exchange has since been known as the NASDAQ OMX PHLX, or more commonly as simply PHLX.
NASDAQ OMX PHLX includes a number of different sector indices, tracking performance in the oil service sector, precious metals, banking, and other industries.
The best known of PHLX’s indices is the PHLX Semiconductor Index, also known as the SOX. The SOX is a modified market cap-weighted index made up of companies that make, distribute, and sell semiconductors and various semiconductor-related equipment. The SOX is home to many of the largest chip-making companies in the world, including Intel, Texas Instruments, Taiwan Semiconductor, and many others.
NASDAQ OMX PHLX focuses on options trading, rather than stock trading. The PHLX’s most prominent offerings are its sector indices. Investors cannot directly buy and sell these indices, but they can trade them as options.
The following is a list of the sector indices that can be traded on the NASDAQ OMX PHLX:
- PHLX KBW Bank Index (BKX)
- PHLX Chemical Sector Index (XCM)
- PHLX Defense Sector Index (DFX)
- PHLX Drug Sector Index (RXS)
- PHLX Europe Sector Index (XEX)
- PHLX Gold/Silver Sector Index (XAU)
- PHLX Housing Sector Index (HGX)
- PHLX KBW Insurance Index (KIX)
- PHLX Marine Shipping Sector Index (SHX)
- PHLX Medical Device Sector Index (MXZ)
- PHLX KBW Mortgage Finance Index (MFX)
- PHLX Oil Service Sector Index (OSX)
- PHLX KBW Regional Banking Index (KRX)
- PHLX Retail Sector Index (XRE)
- PHLX Semiconductor Sector Index (SOX)
- PHLX Sports Sector Index (SXP)
- PHLX Utility Sector Index (UTY)
- SIG Gaming Index (SGV)
- SIG KCI Coal Index (SCP)
- SIG Oil Exploration & Production Index (EPX)
- SIG Railroad Index (SRW)
- SIG Steel Producers Index (STQ)