American Stock Exchange: Historical Timeline

Sunday, 01 March 2009

American Stock Exchange: Historical Timeline The American Stock Exchange has a long and colorful history. Originally known as “curbstone brokers,” the ancestors of today’s Amex market professionals traded out in the street in all kinds of weather – in the rain and snow, and in the dog days of summer.

The curbstone brokers were open and inclusive, independent and tough. They took a chance on emerging industries, invested in smaller companies, and seized new investment opportunities. Providing a robust market for entrepreneurial growth companies, the Amex helped a large segment of corporations to grow and prosper. Over the course of two centuries, the Amex has been at the forefront of the U.S. financial markets serving its listed corporations and investors alike.

Now NYSE Euronext welcomes the historic American Stock Exchange into the world’s largest and most liquid exchange group. This union will significantly enhance NYSE Euronext’s scale in U.S. options, exchange traded funds (ETFs), closed-end funds, structured products and cash equities.

In addition, the combined company will:
• Enable NYSE Euronext to operate a compelling dual market structure making available to all customers the choice of price-time priority on NYSE Arca and the Amex’s traditional market-maker model;
• Provide additional volume to NYSE Euronext’s robust U.S. options business, making it the third largest U.S. options marketplace;
• Operate a third, complementary U.S. cash equities exchange, in addition to the NYSE and NYSE Arca;
• Strengthen NYSE Arca’s leadership position in ETF listing and trading; and • Offer a leading venue for listing and trading closed-end funds and structured products.

NYSE Euronext operates the world’s leading financial markets, providing the platforms on which world-class companies can raise the capital that drives the world’s economy. Investors can participate in that growth through our liquid, fair and accessible markets. NYSE Euronext provides the most compelling venues for investment products and services to the financial-services industry.

The addition of the American Stock Exchange to this alliance means that we will continue to offer the most attractive and diverse array of products of any global exchange.

Download American Stock Exchange: Historical Timeline

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NYSE Euronext
www.nyse.com

1790
The federal government issues $80 million in bonds to repay Revolutionary War debt, marking the birth of the U.S. investment markets. Two years later, 24 stockbrokers sign the “Buttonwood Agreement” and eventually move to the Tontine Coffee House to trade. Other brokers continue trading in the street.

2008
The Amex joins the NYSE Euronext group of exchanges, enhancing the company’s position in U.S. options, exchange traded funds (ETFs) and cash equities, and offering a leading venue for listing and trading closed-end funds and structured products.

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August 18, 2009

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