NYSE Amex
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NYSE Euronext acquired the American Stock Exchange (Amex) on Oct. 1, 2008. The exchange is a market for the listing and trading of small and micro cap companies.[1] NYSE Euronext initially rebranded the exchange post-merger, calling it "NYSE Alternext U.S. LLC" but received approval from the U.S. Securities and Exchange Commission (SEC) in March of 2009 to change it back to NYSE Amex.[2]
NYSE Amex is a U.S. equities market for listing and trading small-cap and mid-cap growth companies.
NYSE Amex-listed companies benefit from issuer-selected designated market makers who utilize NYSE trading and surveillance systems.
Amex-listed volume represented just a few percentage points of overall U.S. equities volume. But the equities market gave NYSE Group a chance to reshape its listing footprint at a time when secondary market trading had forced NYSE to compete against strong rivals for its own listed volume. The acquisition gave NYSE Euronext a way to compete against smaller companies it had automatically ceded to Nasdaq.
The current market's minimum listing standards are similar to those for companies shooting for Nasdaq's lowest listing tier, called the Nasdaq Capital Market. The smallest public float acceptable is $3 million (compared to $5 million on Nasdaq). Shareholders' equity can be as low as $4 million on both exchanges. Operating profits in the latest fiscal year can be as low as $750,000 on both exchanges. Both venues take into account a variety of statistics when deciding whether or not to list a company.[3]
As of March of 2009, NYSE Amex listed 745 issues. Recent listings included Herald National Bank N.A. (NYSE Amex: HNB - 12/9/08), Silvercorp Metals Inc., (NYSE Amex: SVM - 2/17/09), China Green Agriculture Inc. (NYSE Amex: CGA - 3/9/09) and NIVS IntelliMedia Technology Group, Inc. (NYSE Amex: NIV - 3/13/09).
References
- ↑ NYSE Alternext U.S. Equities. NYSE.
- ↑ Press Release. NYSE Euronext.
- ↑ New Lease on Life. Traders Magazine.
