February 25, 2007 |
The future of the American Stock Exchange looked bright when Ira Koondel arrived in 1969. A bull market was in full swing and the Amex was packed with traders. So many people worked on the main floor that the exchange had to open an upper level with bleacher seats a few years later. Another bull market is roaring today, but life at the Amex is quite different. Traders have slowly left or been fired. The bleachers are all but abandoned.
January 26, 2007 |
The American Stock Exchange, the third-largest U.S. equity market, has hired Morgan Stanley to help it become a for-profit shareholder-owned company, the first step toward a possible public stock offering. Morgan Stanley will also study "potential strategic future initiatives" for the market, the exchange said in a statement Thursday. Members of the 164-year-old marketplace would still have to approve any plan to convert their memberships or seats into shares.
December 30, 2006 |
The major U.S. stock exchanges will be closed Tuesday to mark the death of former President Ford, leaving stock trading suspended for an unusually long four consecutive days. The New York Stock Exchange on Friday joined the Nasdaq Stock Market in saying it would not open Tuesday. The closing is unusual because trading was already slated to be shut Monday for New Year's Day and U.S.
April 14, 2006 |
The American Stock Exchange on Thursday launched the first exchange-traded fund that tracks U.S. initial public stock offerings. The First Trust IPOX-100 index fund consists of the 100 largest companies in the U.S. IPOX composite index, which includes 447 companies whose shares were recently offered to the public for the first time. Stocks are eligible to be included from their seventh to 1,000th day of trading.
March 24, 2006 |
The member-owned American Stock Exchange said Thursday that it intended to become a for-profit corporation and probably would move toward an initial public offering, joining a series of stock exchanges that recently have changed their ownership structures.
July 21, 2005 |
Barclays, the biggest manager of exchange-traded funds, said Wednesday that it would move the listing of all but one of its funds to the New York Stock Exchange and the electronic Archipelago Exchange from the American Stock Exchange. The change bolsters the NYSE's expansion beyond common stock trading and marks a setback for Amex, which listed the first ETF in 1993.