The Pacific Exchange (PCX) has closed its San Francisco equities trading floor and has moved its equities trading operations to the fully-electronic Archipelago Exchange (ArcaEx).

Archipelago currently operates as an electronic communications network (ECN) that trades listed and Nasdaq stocks. In October, the Securities and Exchange Commission approved a proposal to make the Archipelago Exchange a regulated facility of the PCX, which gave Archipelago Recognised Investment Exchange status - a regulatory upgrade from its status as an ECN.