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AMEX is short for American Stock Exchange and is the
second largest exchange in the United States after NYSE and is located in
New York. It handles about 10% of all securities traded within the states.
It has recently merged with NASDAQ and most of the trading done on the
AMEX is for small-cap stocks and derivatives. The AMEX began as an
alternative to NYSE and originated when brokers began meeting on the curb
outside the NYSE in order to trade stocks which failed to meet the Big
board's stringent listing requirements.
These days, AMEX has its own trading floor. In 1998, the parent company of
the NASDAQ purchased AMEX and combined both of their markets (although
operated seperately) to be called "The Curb". Types of financial products
listed: equities, options, exchange traded funds and HOLDRS.
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