Subject: Exchanges - The American Stock Exchange

Last-Revised: 19 Jan 2000
Contributed-By: Chris Lott (contact me)

The American Stock Exchange (AMEX) lists over 700 companies and is the world's second largest auction-marketplace. Like the NYSE (the largest auction marketplace), the AMEX uses an agency auction market system which is designed to allow the public to meet the public as much as possible. In other words, a specialist helps maintain liquidity.

Regular listing requirements for the AMEX include pre-tax income of $750,000 in the latest fiscal year or 2 of most recent 3 years, a market value of public float of at least $3,000,000, a minimum price of $3, and a minimum stockholder's equity of $4,000,000.

In 1998, a merger between the NASD and the AMEX resulted in the Nasdaq-Amex Market Group.

For more information, visit their home page: http://www.amex.com

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