Friday, May 11, 2012

NYSE Amex Rebranded NYSE MKT

Another Name Change for a Storied Stock Exchange 

NYSE Euronext today announced that NYSE Amex will be renamed NYSE MKT effective May 14, 2012, subject to SEC filing. NYSE MKT's associated options market will continue to do business under the name NYSE Amex Options.

NYSE MKT (pronounced N-Y-S-E M-K-T) is the premier U.S. equities market for listing and trading of small growth companies.

NYSE MKT is a fully integrated trading venue within the NYSE Euronext community and the new name reinforces that fact," said Scott Cutler, EVP and Co-Head of U.S. Listings and Cash Execution at NYSE Euronext. "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 American Stock Exchange (Amex) in 2008 and renamed it NYSE Amex (after initially rebranding it NYSE Alternext).

Amex traced its origins to the curbstone brokers of the early 19th century, a group of non-New York Stock Exchange-member brokers who conducted their auctions in the street. After several years of outdoor trading, the curbstone brokers moved indoors in 1921 to a building on Greenwich Street in Lower Manhattan. In 1929, the New York Curb Market changed its name to the New York Curb Exchange. It quickly became the leading international stock market, listing more foreign issues than all other U.S. securities markets combined. In 1953, the Curb Exchange was renamed the American Stock Exchange.

Right up until its sale to NYSE Euronext, however, many Wall Street veterans still referred to Amex as "the Curb."

Disclosure: This reporter was CEO of an Amex-listed media company and, after its sale, senior public relations adviser to Amex, supporting the listing of overseas equities on the exchange until its acquisition by NYSE Euronext.