AMEX

AMEX - American Stock Exchange

About the American Stock Exchange :

The American Stock Exchange is the third largest stock exchange in the U.S. after the NYSE and the NASDAQ, handling approximately 10% of American trades. The American Stock Exchange lists companies from all different industries and of all different sizes. However, the exchange is known as having the least strict listing requirements among the three top American exchanges, which results in many small companies joining the exchange. Once a major competitor of the NYSE, the American Stock Exchange is now mostly known for trading in small cap stocks, options, and exchange traded funds. The exchange is owned by NASD (National Association of Securities Dealers), but operated as a separate exchange from the NASDAQ.
As an auction market, the AMEX conducts its business on a trading floor through brokers and specialists. Each security traded on the exchange is handled by a specialist, whose job it is to bring buyers and sellers together, and ensure that a fair market price is obtained for both parties. It is also a specialist's job to ensure that a market remains liquid, by buying or selling from their own account if no one else will. Brokers move around the floor, bringing buy and sell orders to the different specialists on behalf of their clients.

The AMEX options exchange is one of the largest in the world, with over 1,700 options traded on stocks, American Depository Receipts, indexes, exchange traded funds, and HOLDRS. In addition, the AMEX has an extensive market for exchange traded funds as they were the first to trade in this market. The AMEX has a listing of over 140 ETFs on general stock markets, industries,
corporate bond indexes and more.

AMEX - History of the American Stock Exchange :

The American Stock Exchange began in the 1800s as an outdoor market, trading government securities on the curb of Broad Street in New York. The brokers at this time had to create hand signals as the noise from so many trades increased. In 1921, the exchange moved indoors to its current location on Trinity Place, and in 1953 was given the name of the American Stock Exchange.
The American Stock Exchange merged with NASDAQ in 1998, creating the NASDAQ-AMEX Market Group. Although each exchange continues to operate separately, the merge helped both exchanges to better compete with the top exchange in the country, the NYSE.