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Porciúncula Stock Exchange

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Porciúncula Stock Exchange
PSE Tower in 2012
Type Stock exchange
Location Porciúncula, Gold Coast, Sierra
Founded August 19, 1876
Owner Pacifex
Key people John Huang (chairman)
Currency Sierran dollar
No. of listings 1,983
Market cap KS$4.27 trillion (2017)
Volume KS$5.11 trillion (2017)
Indices STAR 60
Von Holt 500
LSE Composite
The Porciúncula Stock Exchange (abbreviated as PSE) is a Sierran stock exchange located at 462 Main Street, Bunker Hill, Porciúncula, Gold Coast, Sierra owned by multinational financial services corporation Pacifex (which is listed on PSE as PFX). It is the fifth largest stock exchange in the world by market capitalization, which was $4.27 trillion in Sierran dollars in the second quarter of 2017, and lists over 1,900 companies, with three-fourths of them being of Sierran origin. The exchange was founded in 1876 as the Pacific Coast Stock and Bonds Exchange, before being renamed to the Porciúncula Stock Exchange in 1959. In 2010, it was acquired by Pacifex, which owns stock exchanges throughout the Asia-Pacific and the Americas, including the Seattle Stock Exchange in Astoria and the Saint Anthony Stock Exchange in Superior, the LSE's primary counterparts in Anglo-America.

The PSE's flagship index, the STAR 60, is used by investors to assess the economic health and stability of Sierra's capital markets. The Porciúncula Clearing House provides security for financial participants, provides listing marketing data, offers market solutions and information services, settlement, and other services conductive to efficient and reliable trade and finance practices. Since 2013, PSE also handles derivatives and futures exchange. Options are traded separately with the Stock Exchange's subsidiary, Porciúncula Options Exchange (POE). It is an affiliated member of the World Federation of Exchanges.


The Porciúncula Stock Exchange was founded in 1876 as the Pacific Coast Stock and Bonds Exchange on the second floor of the Bunker Hill Boarding House by twenty brokers. The stock exchange received support from the King and Parliament, and the founders elected Morris James Fearne as the first board president. All of the men who convened on the first meeting signed the founding charter document and each deposited $50 to obtain membership with the board. All twenty became board members and in the first year of business, the stock exchange handled over 15 million dollars (based on 2017 dollars) in transactions. Some of the initial securities traded at the Exchange were war bonds to support the Sierran Civil War, which was nearing its final phase at the time of the Exchange's foundation.

The stock exchange became the premiere stock exchange in Southern Sierra, and was initially slated to compete with the San Francisco City Stock and Bond Exchange in the north, which was at the time, the only practical exchange in Sierra. By the end of the war, the Pacific Coast Stock and Bonds Exchange had effectively outcompeted with the San Francisco City Stock and Bond Exchange, which was struggling to maintain economic activity after the devastating aftermath of the civil war. The post-civil war era coincided with rapid economic development and infrastructural improvements to the Kingdom, which stimulated securities trading and speculation. Several business cycles of booms and busts forced the government to regulate trading securities and placed restrictions against manipulative or fraudulent trading practices. Blue sky laws were implemented in several provinces, including the Gold Coast where the exchange was based in and remained in place until the 1930s when they were superseded by the regulations of the Federal Securities and Markets Commission (FSMC) and the Financial Security Service (FSS).

The size and scope of the Exchange's operations and trading necessitated a larger floor size for traders and brokers to congregate. In 1889, the Exchange relocated to a larger facility at a newly constructed building on the 19th Street, which contained three floors. In addition to the relocation, the Exchange reformed its charter, and increased the number of members on its board from twenty to thirty. By then, the Exchange was able to index over 200 members and incorporated new technology to quicken the pace of transactions and maximize efficiency. In 1892, the Exchange turned down an offer by King Louis I to allow him a seat on the board, although they agreed to maintain the King as their official patron. In 1894, due to fears of theft and hooliganism, access to the trading floor was restricted to authorized brokers and associates, and a regiment of the Royal Scots Guardsmen were assigned to provide security during operating hours and after closing.

In 1918, the Pacific Coast Stock and Bonds Exchange merged with the exchanges of Grands Ballons and San Diego, forming the Porciúncula Stock Exchange. It later acquired the Rothenburg Stock Exchange in 1957.

On March 13, 1922, the Porciúncula Stock Exchange was targeted by armed members of the Continentalist Party of Sierra and union members. The trading floor was breached and several dozen traders were held as hostages before the Sierran Royal Army and Purpleshirts were deployed to end the hostage crisis. Several traders and attackers were killed amidst the crisis, and the event would come to be commemorated as Bloody Monday.


The LSE is officially open for continuous trading Monday through Friday from 8:00 AM – 4:30 PM PT, except during bank holidays as determined by the Exchange or when a circuit-breaker is activated. It averages 251 trading days per year. There is a one-hour lunch break between 12:00 PM and 1:00 PM. Trade reporting, auction opening, and auction closing are allowed 45 minutes before and after a trading session. Opening prices of securities are generally reported by 7:55 AM and the closing prices are reported by 4:35 PM.

Extended-hours trading, done entirely electronically, is permitted four hours before the market opens and closes (4:00 AM – 8:00 AM and 4:30 PM – 8:30 PM respectively).

In order to prevent massive panic sellouts and extreme market volatility, the Stock Exchange enforces trading curbs, which are triggered automatically when the average closing price of the Von Holt 500 falls more than 7% from the previous trading day, or by order by the Federal Securities and Markets Commission. Between 7% and 12%, the market results in a 10-20 minute halt, unless the drop occurs after 3:45 PM. Between 12% and 19%, the market halts for 30 minutes, unless the drop occurs after 4:15 PM. Any drop at 20% or more results in trading being suspended for the remainder of the trading day. The largest one-day decline in the Von Holt 500 was in 1999, when the market closed at 321.48, dropping 18.7%, which had resulted in a government-order regulatory trading stop for the rest of the trading day. The largest daily point loss in the Von Holt 500 was on March 16, 2020, when the index price dropped a net change of 291.78 points.

Official holidays

The following holidays are observed by the Porciúncula Stock Exchange where trading is closed: New Year's Day (January 1), Good Friday (Friday before Easter), Labor Day (September 1), Her Royal Majesty's Birthday (August 12 or the Friday before if it falls on a weekend), Sierra Day (November 27), Thanksgiving Day (fourth Thursday of November), Christmas Day (December 25), and Goodwill Day (December 26). When a holiday falls on a weekend, the closest business day will be observed as the holiday. In addition, the exchange closes early on the day before Sierra Day, Christmas Eve, and New Year's Eve at 1 PM. In addition, the stock exchange may close if directed during designated days of mourning or remembrance (usually following the death of a royal or a high-ranking official), by the discretion of the executive government or monarchy.


The three primary indices which are used to measure the performance of the Porciúncula Stock Exchange's publicly traded companies are the STAR 60, Von Holt 500, and LSE Composite Index. These indices can be invested in through exchange-traded funds (ETFs) or mutual funds. The Harbinger Corporation (PSE: HOO) and eInvest (PSE: EII) are the main issuers of exchange-traded funds based on the performance of these indices.


The STAR 60 Index measures the stock performance of 60 large companies listed on the Porciúncula Stock Exchange and is cap-weighed. It is one of the oldest Sierran-based indices and is one of the most commonly followed stock indices. It is represented by the ticker symbols of STIX, ^PSTA, and $STX, depending on the market or website. The top ten components of the index based on dividend yields are known as the Star Platinum. Historically, the index has been used as a strong indicator on the economic performance and health of Sierra (and Anglo-America to a lesser extent). Since the early 2000s, it has lost its favorable position to broader, larger indices such as the Von Holt 500.

Von Holt 500

The Von Holt 500, commonly shortened to the VH 500, measures the stock performance of 500 large companies listed on the Porciúncula Stock Exchange and other Sierra-based stock exchanges. It is cap-weighed, similar to the STAR 60, and is the most popularly followed stock index. The index is a significant component of the Economic Performance and Forecast Indicator Index (EPFII), a macroeconomic forecasting index used to gauge and predict the future performance and health of the Sierran economy. It is maintained by Von Holt and its components are determined by a committee, utilizing numerous factors and considerations. It is represented by the ticker symbols of VHIX, ^VHI, and $VHX. The components that have increased their dividends for 25 consecutive years or more are known as the Von Holt 500 Dividend Casanovas, while the components from that list which have increased their dividends for 50 consecutive years or more are known as the Von Holt 500 Dividend Debonairs.

The Von Holt 100 is a subset of the Von Holt 500 and features 100 of the largest companies in the Von Holt 500.

PSE Composite Index

The PSE Composite Index is a stock market index which includes all stocks listed on the Porciúncula Stock Exchange, covering approximately 85% of the market capitalization of K.S. stocks, including all of the companies listed in the STAR 60 and Von Holt 500 indices. In addition to large-cap companies, it also includes small and medium-cap companies. It provides two versions of the index, one measuring price return, which accounts for daily market fluctuations and price changes, and the other measuring total return, which accounts for dividends and reinvestment. Its ticker symbols are PSIX, ^PSE, and $PSX.

Companies listed

Notable companies and subsidiaries

See also