American Stock Exchange
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| American Stock Exchange | |
| |
| Founded | 1842 |
|---|---|
| Headquarters | New York, NY |
| Key People | Neal Wolkoff, Michael Bickford, Mark Seetin |
| Products | Stocks, Options, ETFs |
| Web site | www.amex.com |
The American Stock Exchange, established in 1842, is a U.S.-based securities exchange. Neal Wolkoff, former long-time executive with the New York Mercantile Exchange, is AMEX's CEO. Michael T. Bickford is the senior vice president in charge of options.
On January 17, 2008, NYSE Euronext announced a proposed deal to acquire the American Stock Exchange (Amex). If approved by shareholders, it would give NYSE Euronext a bigger stake in the options business (as well as exchange traded funds ETFs, closed-end funds, structured products and cash equities). Total cost of the deal is $260 million in NYSE Euronext common stock, plus additional shares for Amex members of NYSE Euronext common stock based on the net proceeds from the expected sale of Amex’s lower Manhattan headquarters. The deal is also subject to approval by regulators, including from the SEC and Department of Justice. The transaction is expected to close in the third quarter of 2008 and to be accretive to NYSE Euronext’s 2009 earnings.[1]
History
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References
- ↑ "NYSE Euronext to Acquire the American Stock Exchange,” 1/17/08. NYSE Euronext. Retrieved on Jan. 20, 2008.
