AMEX Has Been Acquired

Discussion in 'Wall St. News' started by lukematt, Oct 19, 2008.

  1. lukematt


    On October 1, 2008, the American Stock Exchange was acquired by NYSE Euronext. The new name for the American Stock Exchange is “NYSE Alternext US LLC”.

    Do you think this news is good, bad, or unimportant?
  2. unimportant
  3. Man, there was a time when this was <i>the</i> "high flyer" market, akin to the Nasdaq in the 1990s-2000s. Just goes to show you, stay ahead of the competition or become virtually irrelevant! OK, that isn't entirely true, they do trade a great deal in ETFs. Outside of the Philly, weren't they also the next oldest stock market, as the Curb exchange?
  4. hughb


    The Amex doesn't even try to get stock listings anymore. I remember back when a Nasdaq stock would move "up" to the Amex, now stocks on the Amex move "up" by getting listed on the Naz. As a matter of fact, now that I think of it, all stocks on the Naz used to be reffered to as OTC instead of listed. Only stocks on the Amex and NYSE were considered listed.

    ETF's have seen their better days too. I've noticed some of them have folded. There used to be a shitload of Wisdom Tree funds, what ever happened to them? I also wonder what happened to a small shareholder who held an odd lot of an ETF that dissolved. If he held 20 shares of an ETF that was made up of more than 20 companies, what ended up in his account? I never really thought ETF's were a good thing. The more higher volume ones will last, but I think most of them will fold over the next few years.
  5. Surdo


    This is NOT news, it is more like history from 9 months ago my friend! A $260mm deal, not exactly earth shattering.

    New York, Jan. 17, 2008 - NYSE Euronext (NYSE Euronext: NYX), the world's largest and most liquid exchange group, has entered into a definitive agreement to acquire the American Stock Exchange® (Amex®).
  6. lukematt


    From an NYSE Euronext press release dated October 6, 2008:

    "NYSE Alternext US to Delist Securities of Debt Resolve, Inc.

    About NYSE Alternext US LLC

    Formerly known as the American Stock Exchange, it was acquired by NYSE Euronext on October 1, 2008, and its name was changed to NYSE Alternext US LLC. The market offers trading across a full range of equities, options, and exchange traded funds ("ETFs"), including structured products and HOLDRS."

    When deals are announced and when deals close are two different things, and a lot can happen in between, my friend!

    Is the amount of the deal the most important factor?

    Back to the original question: good, bad, or unimportant?
  7. cstfx


    In this case yes it is very important. The value of the Amex property far exceeds the purchase price, even in this market. This deal pays for itself and then some.
  8. cstfx


    Syms is a block and 1/2 south.
  9. c'est la vie amex. thieves slip quietly into the night under different names
  10. cstfx


    There was a time not too long ago (late 80s) where it was better to trade at the Amex than NYSE. They had a thriving options market, especially in the XMI's. Many (and I mean many) independents traded that floor and made their nut.

    I will miss it when it goes.
    #10     Oct 19, 2008