Pacific Exchange May Lease in San Francisco

The Pacific Exchange is considering whether to lease office space that might be vacated by BankAmerica Corp. in San Francisco rather than spend $150 million to build a new headquarters and trading floor. Renting space would appeal to many exchange members and traders who lease seats because it would mean an end to a $1,000 monthly assessment they began paying in February to raise money for the new building. For now, the exchange is moving ahead with plans to build in the south of Market district, said spokesman Dale Carlson. But the exchange is exploring the possibility of renting space that might become available after BankAmerica merges with NationsBank Corp. A BankAmerica spokeswoman said the bank has no plans to give up its 52-story building downtown.