What makes Philadelphia Stock Exchange so popular is that its one of the Major Stock Markets Of U.S.A. Facts indicate that Philadelphia Stock Exchange it?s the oldest stock exchange in the United States. Located in Pennsylvania, it was founded in 1790, later it merged with the Baltimore Stock Exchange in 1949, the Washington Stock Exchange in 1954 and the Pittsburgh Stock Exchange in 1969. A glimpse into the History of Philadelphia Stock Exchange gives us with interesting details regarding its popularity in the last few decades. It?s believed that in December 1968, in response to huge fiscal crisis, the City of Philadelphia imposed a $0.05-per-share stock transfer tax for all monetary transactions on the Philadelphia Stock Exchange. In staunch response, on January 2, 1969, the Philadelphia Stock Exchange (PHLX) moved its trading floor to an office building known as the Decker Building near City Avenue in Bala Cynwyd to avoid the tax. On October 22, 1981, trading was halted on both the Chicago Board of Trade and the Philadelphia Stock Exchange due to threats imposed on them.
The Stock Exchange in Philadelphia is regarded as the first securities exchange in the United States, as it introduced the tradition of innovation that widely characterized Philadelphia Stock Exchange since its inception in 1790 has carried on throughout the years as the Exchange continues to respond to the ever-changing needs of the investment community. Furthermore, being the first organized exchange in the U.S., the Philadelphia Stock Exchange proudly boasts of a long list of equally significant measures which had a great impact on the securities industry of US. One of such effort was being the first U.S. securities exchange to enter cyberspace with its own site on the internet. The Stock market revenue here has seen rise in the last few years as many companies of international repute have been listed here.
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