PHLX
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Philadelphia Stock Exchange
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One of the Former Locations of The Philadelphia Stock Exchange
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| Location | 1409–11 Walnut St, Philadelphia, Pennsylvania |
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| Coordinates | Coordinates: |
| Built | 1911 |
| Architect | Horace Trumbauer |
| Architectural style | Other |
| NRHP Reference # | 82003812 |
| Added to NRHP | August 31, 1982 |
Philadelphia Stock Exchange (PHLX), now known as NASDAQ OMX PHLX, is the oldest in the United States. It is now owned by The NASDAQ OMX Group. Founded in 1790, the exchange was originally named the Board of Brokers of Philadelphia, also referred to as the Philadelphia Board of Brokers. In 1875, the Board of Brokers changed its name to the Philadelphia Stock Exchange. The exchange merged with the in 1949 and was named the Philadelphia-Baltimore Stock Exchange. It merged with the in 1954, becoming known as the Philadelphia-Baltimore-Washington Stock Exchange (often abbreviated as PBW). In 1969, the exchange acquired the . In 2007, PHLX was purchased by NASDAQ for $652 million.
Over its 200 years the exchange has had various titles and has been located in various buildings around Philadelphia. Founded in 1790 as the "Board of Brokers," it was located at the Merchants Coffee House, now known as the City Tavern, at the corner of Second and Walnut Streets.
In 1831, Stephen Girard’s Bank had formed the "Philadelphia Merchant’s Exchange Company" to erect a new building to house the Board of Brokers and other groups. The Board of Brokers moved into the Merchants Exchange Building at 3rd and Dock Streets in 1834 following a fire at the coffee house.
On June 20, 1857, the Board of Brokers of Philadelphia transacted no business in the stock board, as their annual dinner was held that day.
As of January 1, 1874, the par price for membership in the Philadelphia Board of Brokers was $1,000, with 198 seats, and "not others are attainable under $2,000 each." The board represented a market catial of around $350,000.
In 1875, the Board of Brokers changed its name to the Philadelphia Stock Exchange.
In 1876, the exchange moved to the rear of the Girard Bank Building, formerly the First Bank of the United States. It stayed there until 1888. From 1888 to 1902, the exchange moved to the Drexel Building which was located near Fifth Street and Chestnut. Between 1902 and 1912, the exchange returned to the Merchants Exchange Building. In 1913, it moved to a building at 1411 Walnut Street, now a national landmark.
In 1951, the exchange moved to the Central Penn Bank Building at 1401 Walnut Street. It stayed there until 1966 when it moved to a newly constructed building (currently the Sofitel Hotel) at 17th and Sansom. The 1700 block of Ionic Street, a narrow thoroughfare just north of this building, was renamed Stock Exchange Place and was still signed as such as of 2017.
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