NYSE Amex LLC to Receive Name Change
On Thursday, NYSE Euronext (NYX) announced plans to rename NYSE Amex LLC to NYSE MKT LLC. This will be effective May 14, 2012, subject to SEC filing, according the exchange's press release.
NYSE MKT's options market will continue conducting business under the name NYSE Amex Options.
Scott Cutler, EVP and Co-Head of U.S. Listings and Cash Execution at NYSE Euronext said of the change, "NYSE MKT is a fully integrated trading venue within the NYSE Euronext community and the new name reinforces that fact," said "The venue is dedicated to growth-oriented companies in the U.S., and we continue to enhance the platform to best meet the needs of these clients."
NYSE Euronext bought the Amex back in 2008.
The exchange has quite a storied history beginning as "curbstone brokers" in lower Manhattan during the 1800s. The market grew and in 1929, was renamed the New York Curb Exchange.
Fast forward to 1953 and the name, American Stock Exchange, was born.
Along came its options marketplace in 1975 and in 1993, the exchange listed the Standard & Poor's Depositary Receipt, which represented the first exchange-traded fund, according to The Wall Street Journal.
Today, it is the most widely-traded ETF; it has the name, SPDR S&P 500.
In recent years, the exchange struggled with declining marketshare. It became known for its options trading and according to marketshare data from OCC, stood at No. 4 in total options last month.
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