NYSE Amex Equities

What Is NYSE Amex Equities?

NYSE Amex Equities is an American stock exchange renowned for its focus on small-cap and micro-cap stocks, corporate bonds, exchange-traded funds (ETFs), and a wide range of other investment products. Originally known as the American Stock Exchange (AMEX), it was acquired by NYSE Euronext and has undergone several rebrandings since its inception in 1849. Today, it operates as NYSE American, a fully electronic trading platform.

Key Highlights

• NYSE Amex Equities now operates under the name NYSE American.
• Investors have access to trading small-cap, micro-cap stocks, corporate bonds, ETFs, and more.
• The exchange is entirely electronic, representing over 8,000 listed companies.
• Leading sectors on the exchange include energy, mining, healthcare, and pharmaceuticals.

Exploring NYSE Amex Equities

The origins of NYSE Amex Equities date back to 1849, when trading was conducted outdoors and the exchange was called the New York Curb Agency, highlighting its unconventional trading style. Approximately twenty years later, it moved indoors and was renamed the New York Curb Exchange.

In 1953, it was rebranded as the American Stock Exchange, becoming the second-largest U.S. exchange after the New York Stock Exchange (NYSE).

After Euronext acquired the AMEX in 2008, it was renamed NYSE Amex Equities—the first name change in five decades. Historically, AMEX was the second-largest U.S. exchange, a position now held by Nasdaq.

In 2009, NYSE Euronext purchased the exchange and renamed it NYSE Amex Equities. This name was short-lived as it transitioned to NYSE MKT, and later, following SEC approval of IEX, it rebranded to NYSE American to incorporate a unique speed bump feature.

The fully electronic design of the exchange minimizes latency and enhances institutional trading through an electronic designated market maker (DMM) for each listed company and a delay mechanism encouraging midpoint trading. This combination offers investors efficient entry and exit points while reducing adverse selection risk.

Noteworthy

In 2016, NYSE American introduced a 350-microsecond speed bump for trading small and micro-cap stocks, inspired by the innovative approach of IEX’s founder.

Ranking among the largest U.S. stock exchanges by volume, NYSE American hosts over 8,000 companies, with the most active stocks concentrated in energy, mining, medical, and pharmaceutical industries.

Additional Insights

From 1998 to 2004, NYSE American was part of the National Association of Securities Dealers (NASD) before returning to private ownership. In early 2017, the exchange announced the cessation of floor trading as it transitioned to a new technology platform, ending the era of brokers physically trading on the exchange floor.

Trading sessions on NYSE American align with other U.S. exchanges and include:

• Pre-Opening: 6:30 a.m. ET
• Early Trading: 7:00 a.m. ET to 9:30 a.m. ET
• Core Trading: 9:30 a.m. ET to 4:00 p.m. ET
• Late Trading: 4:00 p.m. ET to 8:00 p.m. ET

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