History of the American Stock Exchange
- The American Stock Exchange was founded on June 27, 1921.
- In 2008, it was acquired by NYSE Euronext for $260 million in stock.
- The AMEX was integrated with the Alternext European small-cap exchange and renamed NYSE Alternext U.S.
- In 2009, it was rebranded as NYSE Amex Equities, and later changed its name to NYSE MKT LLC in 2012.
- On July 24, 2017, it was renamed NYSE American.
Differences between NYSE and Nasdaq
- NYSE has both an electronic trading system and a trading floor system, while Nasdaq is an all-electronic exchange.
- NYSE uses an auction market to set prices, while Nasdaq uses a dealer market.
- Listing fees on Nasdaq range from $55,000 to $80,000, while the NYSE has a minimum listing fee of $150,000.
- NYSE is viewed as an exchange for established companies, while Nasdaq is home to newer companies focused on technology and innovation.
- NYSE has a larger market capitalization than Nasdaq.
Key Figures in the American Stock Exchange
- Paul Kolton served as Chairman and CEO in the 1970s.
- Nathan Most was an investment fund innovator.
- Thomas Peterffy is a prominent figure in the exchange-traded funds (ETFs) industry.
- Larry Harris is an author known for his book "Trading and Exchanges."
- Stuart Bruchey wrote about the modernization of the American Stock Exchange.
Exchange-Traded Funds (ETFs)
- ETFs are investment funds traded on stock exchanges.
- They offer diversification and flexibility to investors.
- ETFs have gained popularity since their introduction in the 1990s.
- They track various indices, sectors, or asset classes.
- ETFs provide exposure to a wide range of investment options.
NYSE American vs. NASDAQ
- NYSE American is known for trading small and mid-cap stocks.
- NASDAQ is known for its technology-focused companies.
- NYSE American operates as an auction market, while NASDAQ operates as a dealer market.
- Both exchanges have stringent listing requirements.
- NYSE American is part of NYSE Group, while NASDAQ operates as a separate entity.
NYSE American, formerly known as the American Stock Exchange (AMEX), and more recently as NYSE MKT, is an American stock exchange situated in New York City. AMEX was previously a mutual organization, owned by its members. Until 1953, it was known as the New York Curb Exchange.
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| Type | Stock exchange |
|---|---|
| Location | New York City, New York, United States |
| Founded | 1908 (as New York Curb Market Agency) |
| Owner | Intercontinental Exchange |
| Currency | United States dollar |
| Website | NYSE American |
NYSE Euronext acquired AMEX on October 1, 2008, with AMEX integrated with the Alternext European small-cap exchange and renamed the NYSE Alternext U.S. In March 2009, NYSE Alternext U.S. was changed to NYSE Amex Equities. On May 10, 2012, NYSE Amex Equities changed its name to NYSE MKT LLC.
Following the SEC approval of competing stock exchange IEX in 2016, NYSE MKT rebranded as NYSE American and introduced a 350-microsecond delay in trading, referred to as a "speed bump", which is also present on the IEX.
