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The evolution of the Philadelphia Stock Exchange: 1964-2002

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  • John P. Caskey

Abstract

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.

Suggested Citation

  • John P. Caskey, 2003. "The evolution of the Philadelphia Stock Exchange: 1964-2002," Working Papers 03-21, Federal Reserve Bank of Philadelphia.
  • Handle: RePEc:fip:fedpwp:03-21
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    File URL: http://www.philadelphiafed.org/research-and-data/publications/working-papers/2003/wp03-21.pdf
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    References listed on IDEAS

    as
    1. Benn Steil, "undated". "Changes in the Ownership and Governance of Securities Exchanges: Causes and Consequences," Center for Financial Institutions Working Papers 02-15, Wharton School Center for Financial Institutions, University of Pennsylvania.
    2. Burkhard Drees & Garry J. Schinasi & Charles Frederick Kramer & R. S Craig, 2001. "Modern Banking and OTC Derivatives Markets; The Transformation of Global Finance and its Implications for Systemic Risk," IMF Occasional Papers 203, International Monetary Fund.
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    Cited by:

    1. Robert M. Hunt, 2010. "Business Method Patents And U.S. Financial Services," Contemporary Economic Policy, Western Economic Association International, vol. 28(3), pages 322-352, July.

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    Keywords

    Stock exchanges;

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