American Stock Exchange

The American Stock Exchange is one of the largest organized security exchanges in the United States. Originally known as the "curb exchange", the American Stock Exchange originated when stock brokers created outdoor markets near the New York Stock Exchange (NYSE) to trade new securities that did not meet the NYSE's strict listing requirements. In 1921, the curb exchange moved indoors and became known as the American Stock Exchange. The generally accepted abbreviation for the American Stock Exchange is AMEX. Listing rules associated with the American Stock Exchange are lenient compared to those associated with the NYSE. As a result, the American Stock Exchange represents a large number of small to mid-sized companies. The core business of the American Stock Exchange is small-cap stocks, exchange-traded funds and derivatives. In 1998, the American Stock Exchange merged with the NASDAQ, although the American Stock Exchange operates independently. The American Stock Exchange has its own trading floor and is located in Manhattan (New York City).